| EUR/USD | USD/JPY | GBP/USD | USD/CHF | |
| 1.4720(M) | 96.15(M) | 1.7200(M) | 1.0890(M) | |
| Resistance | 1.4500(W) | 95.90(M) | 1.7105(M) | 1.0735(M) |
| 1.4445(M) | 95.60(M) | 1.7044(W) | 1.0700(M) | |
| 1.4335(M) | 94.35(M) | 1.6930(M) | 1.0565(M) | |
| Support | 1.4306(W) | 94.05(S) | 1.6885(W) | 1.0545(M) |
| 1.4265(M) | 93.50(M) | 1.6696(M) | 1.0485(M) |
The British Pound jumped to its highest level since mid October against the greenback on Wednesday, buoyed by a raft of stronger than expected UK data which strengthened the view that the UK economy is recovering from a deep slowdown. Figures showing a jump in UK services sector activity, an unexpected rise in industrial production and a survey revealing another rise in UK house prices raised hopes that the UK economy will return to growth later this year. They also strengthened view that the Bank of England is unlikely to opt to increase asset purchases under its quantitative easing programme when it announces its monthly policy decision on Thursday. The GBP/USD is currently trading at $1.6990 as of 8:52am, London Time.
The dollar was steady near this year's lows against the euro on Thursday with investors bracing for policy decisions by the Bank of England and the European Central Bank later in the day. The dollar fell versus the euro on Wednesday to its lowest point since December after data showing U.S. private employers cut more jobs last month but at the slowest pace since October, offering a glimmer of hope the labor market is stabilizing. The ECB appears certain to keep its interest rate at a record low of 1 percent as it waits to see the impact of efforts so far to revive the economy and credit flows. The ECB policy decision is expected at 1145 GMT followed by a news conference by ECB President Jean-Claude Trichet. The EUR/USD is currently trading at $1.4405 as of 9:11am, London Time.
The yen weakened for the first time in three days against the euro and the dollar as stocks advanced after Japanese companies reported improved earnings, reviving demand for higher-yielding assets. “Investors are very cautious of the U.S. recovery and whether it will be sustained,” said Susumu Kato, chief economist in Tokyo at Calyon Securities, the investment banking unit of Credit Agricole SA. “From this level we need more evidence of recovery in the U.S. economy. If the U.S. employment numbers are bad, the yen will strengthen to 93 per dollar.” The USD/JPY is currently trading at 95.36 as of 9:16am, London Time.
Today's Economic Events
| Time | Event | Currency/Country | Period | Previous | Forecast | Significance | Actual |
| 23:30 | AiG Performance of Construction Index | Australia | 42.6 | 3 | |||
| 15:00 | ICSC Chain Store Sales (Y-o-Y) | United States | Yearly | -5.1 | 3 | ||
| 14:30 | EIA Natural Gas Inventory (Cubic Feet) | United States | 3023 | 2 | |||
| 14:00 | Leading Index | Japan | 76.9 | 79.7 | 2 | 79.8 | |
| 12:30 | Building Permits (M-o-M) | Canada | Monthly | 14.8 | 3 | ||
| 12:30 | Initial Jobless Claims | United States | 584 | 2 | |||
| 12:30 | Continuing Claims | United States | 6197 | 3 | |||
| 11:00 | Interest Rate Decision | UK | 0.5 | 2 | |||
| 10:00 | Factory Goods Orders (M-o-M) | Germany | Monthly | 4.4 | 2 | ||
| 5:00 | Coincidence Index | Japan | 87.1 | 88.1 | 4 | 87.8 | |
| 5:00 | Lagging Index | Japan | 84.1 | 3 | |||
| 4:00 | Official Foreign Reserves | USD/Canada | 44.66 | 3 | |||
| 4:00 | Official Foreign Reserves | USD/Japan | 1.02 | 3 | |||
| 1:30 | Unemployment Rate | Australia | 5.8 | 2 | |||
| 1:30 | Unemployment Change | Australia | -21.4 | 3 | |||
| 1:30 | Participation Rate | Australia | 65.3 | 4 | |||
| 1:30 | Employment Change | Australia | -21.4 | 2 |
