| EUR/USD | USD/JPY | GBP/USD | USD/CHF | |
| 1.5085(M) | 91.80(M) | 1.6845(M) | 1.0285(S) | |
| Resistance | 1.5065(M) | 91.34(M) | 1.6799(M) | 1.0275(M) |
| 1.4953(M) | 90.86(S) | 1.6700(W) | 1.0200(M) | |
| 1.4810(M) | 89.95(M) | 1.6574(W) | 1.0110(M) | |
| Support | 1.4785(M) | 89.64(M) | 1.6515(M) | 1.0030(S) |
| 1.4718(M) | 89.29(S) | 1.6505(M) | 1.0015(M) |
The greenback surged against most major currencies as a retreat in U.S. stocks discouraged demand for higher yielding assets. The dollar advanced versus the euro after its decline yesterday halted at $1.50 strategic level which was a barrier for further weakness. The world faces a gradual and uneven recovery from the worst financial crisis since the Great Depression, China’s Premier Wen Jiabao said in a televised speech in Beijing. The Dollar Index which tracks the greenback against other major trading currencies rose for the second straight day, increasing 0.5 percent to 75.568. It touched 74.773 yesterday, the lowest level since August 2008. Japan supports a strong dollar and doesn’t intend to reduce its holding of U.S. Treasuries or buy more gold, said Shinichiro Furumoto, the parliamentary secretary of finance, in a joint interview today in Singapore after a meeting of finance ministers from the Asia-Pacific Economic Cooperation group. The EUR/USD is currently trading at $1.4860 as of 8:37pm, GMT with bearish Trend.
The British Pound hit a one week low against the greenback on Thursday, after comments from the Bank of England governor Mervin King stating that he has not ruled out an extension to the Quantitative Easing program, while disappointing U.S. data propped up the safe haven U.S. currency. "The market's still reading Mervin King's comments to be on the dovish side," said Paul Mackel, director of currency strategy at HSBC. The Bank of England opted last week to expand asset purchases under its quantitative easing program by a further 25 billion pounds, bringing its target to 200 billion pounds. The dollar was broadly supported after a report showing initial U.S. weekly jobless claims came in lower than expected thus encouraging buying of the greenback as investors chose to stay away from currencies perceived to be riskier. The GBP/USD is currently trading at $1.6580 as of 21:26pm, GMT with a bearish trend.
The euro, which lost 3.5% against the Sterling in the past month, may recover and rise to 94.11 as Technical charts suggest its decline is about to reverse, according to UBS AG, which cited trading patterns. The euro will have to advance above 90.60 U.K. pence to confirm the momentum after it broke a so-called trend line resistance of 90.12 pence yesterday, said Taso Anastasiou, a technical strategist in Zurich at UBS. The euro is supported in the short term at 90.10 and 89.45 pence. Support is a level where buy orders may be clustered, while resistance is where there may be sell orders. The EUR/GBP is currently trading at 0.8952 as of 21:46pm, GMT with a bullish trend.
Today's Economic Events
| Time | Event | Currency/Country | Period | Previous | Forecast | Significance | Actual |
| 13:55 | Univ. of Mich. Consumer Confidence Index | United States | 70.6 | 2 | |||
| 12:30 | Import Price Index (M-o-M) | United States | Monthly | 0.1 | 2 | ||
| 12:30 | Exports (M-o-M) | United States | Monthly | -0.3 | 2 | ||
| 12:30 | Trade Balance | USD/United States | -30.7 | 2 | |||
| 12:30 | Imports | USD/United States | 158.93 | 3 | |||
| 12:30 | Exports | USD/United States | 127.22 | 3 | |||
| 12:30 | Merchandise Trade Balance | CAD/Canada | -2 | 4 | |||
| 12:30 | New Motor Vehicle Sales (M-o-M) | Canada | Monthly | -0.3 | 0 | 3 | |
| 12:30 | Exports | CAD/Canada | 29.22 | 2 | |||
| 12:30 | Imports | CAD/Canada | 31.2 | 2 | |||
| 12:30 | Trade Balance | CAD/Canada | -1.98 | 2 | |||
| 9:00 | GDP (Q-o-Q) | Eurozone | Quarterly | -0.2 | 0.5 | 2 | |
| 9:00 | GDP (Y-o-Y) | Eurozone | Yearly | -4.8 | -3.9 | 3 | |
| 7:15 | Producer & Import Prices (M-o-M) | Switzerland | Monthly | 0.2 | 0.1 | 2 | |
| 7:15 | Producer & Import Prices (Y-o-Y) | Switzerland | Yearly | -4.9 | -4.3 | 2 | |
| 6:00 | GDP (Q-o-Q) | Germany | Quarterly | 0.3 | 0.8 | 2 | |
| 6:00 | GDP (Y-o-Y) | Germany | Yearly | -5.9 | -4.8 | 3 | |
| 5:00 | Consumer Confidence Index | Japan | 40.7 | 40.5 | 2 | 40.8 | |
| 5:00 | Consumer Confidence Households | Japan | 40.5 | 40.9 | 3 | 40.5 | |
| 4:30 | Industrial Production (M-o-M) | Japan | Monthly | 1.6 | 2 | ||
| 4:30 | Industrial Production (Y-o-Y) | Japan | Yearly | -19 | 3 | ||
| 4:30 | Capacity Utilization (M-o-M) | Japan | Monthly | 2.3 | 2 | ||
| 1:00 | Non Resident Bond Holdings | New Zealand | 72.1 | 2 |
