ZuluTrade Blog

EURUSD recovered from yesterday's lows

Market View | Friday, March 30, 2012 3:53 AM GMT

Good Morning,

- EURUSD recovered from yesterday's lows around 1.3250 on prospects European finance ministers will agree to increase rescue funds at a two-day meeting starting today. The high for EURUSD in Asia was 1.3367. Key for the growth currencies will be the release of China's PMI on Sunday.

Stocks: Nikkei -0.42 %, Hang Seng -0.60 %, Shanghai Composite +0.23 %, Dow Jones +0.15 %, S+P500 -0.16 %

- German Finance Minister Wolfgang Schaeuble said the euro-area's firewall will amount to about 800 billion euros and assistance from the International Monetary Fund will be similar to assistance over the last two years. "We can be optimistic it will work," Schaeuble said in a speech today in Copenhagen before meeting with his euro-area finance counterparts.

- Fed Bernanke said on Thursday that there were signs of improvement in labor markets and said policymakers need to feel comfortable that inflation will be contained before they consider ending super-loose interest policies.

- Fed Lacker says "unconvincing" that more easing would help labor market. - Fed Lockhart said today that he is "pretty comfortable" with the risks posed by the European financial crisis.

- Japan's industrial production unexpectedly dropped in February, undercutting signs of an economic rebound in the first quarter as policy makers assess whether to apply further stimulus.



Japan Data recap Period Survey Actual Prior
Manufacturing PMI Mar - 51.1 50.5
Jobless Rate Feb 4.6 4.5 4.6
Tokyo CPI yoy Mar -0.1 -0.1 -0.2
National CPI yoy Feb 0.0 0.3 0.1
Industrial Production mom Feb 1.3 -1.2 1.9
Industrial Production yoy Feb 3.7 1.5 -1.3
Construction Orders yoy Feb - -1.8 24.6
Housing Starts yoy Feb -1.1 7.5 -1.1


- Japan's Prime Minister Yoshihiko Noda faced deepening challenges to his leadership as a member of the ruling group rejected his plan for a sales-tax boost and opposition widened to his nominee for the central bank board. People's New Party leader Shizuka Kamei told reporters today he would leave the coalition over legislation to double the consumption levy by 2015. At the same time, Japan's opposition New Komeito party will probably reject the nomination of Ryutaro Kono, upper house lawmaker Yuichiro Uozumi said.


Australia Data Recap Period Survey Actual Prior
HIA New Home Sales Feb - 3.0 -7.3
Private Sector Credit Feb 3.3 3.5 3.5


UK Data Recap Period Survey Actual Prior
Consumer Confidence Mar -29.0 -31.0 -29.0


- 14.30 US Personal Income/Spending Fed
- 14.30 US PCE Deflator Feb
- 15.45 US Chicago PMI Mar
- 15.55 US Univ. of Michigan Confidence Mar
- 08.00 Germany Retail Sales Feb
- 08.45 France PPI Feb
- 08.45 France Consumer Spending Feb
- 10.00 Italy PPI Feb
- 11.00 Eurozone CPI Mar
- 12.30 EU27 Fin. Ministers & Central Bankers Meeting
- 09.00 Norway PMI Mar
- 10.00 Norway Retail Sales Feb
- 09.00 Switzerland KOF Mar
- Sun. China PMI Manufacturing Mar
- Sun. China HSBC Manufacturing PMI Mar


Have a nice weekend !

Comments are closed

Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the foreign exchange market trading, only genuine "risk" funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. Forex Brokers and ZuluTrade are compensated for their services through the spread between the bid/ask prices or there may be a cost to initiate a trade through the bid/ask spread. Signing up is totally free, and there is NO contract and NO monthly fees, ever.

This blog is for informational purposes only. This blog is not intended for distribution channels and may not be reproduced or distributed without the permission of Zulu Trade ltd or any of its affiliated entities (“ZuluTrade”). All opinions, news, prices or other information contained in this blog are provided as general market commentary and this report does not contain and it is in not to be considered in any circumstance as market analysis, offer or solicitation to buy or sell any financial instruments, personalized or general recommendation for any investment decision or investment strategy by ZuluTrade, in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The information contained in this blog should not be construed as financial or investment advice on any subject matter. The financial instruments referred to herein may not be suitable for all investors and any investments on such financial instruments requires the assessment by each investor and its counsels of the investor’s investment characteristics, including the investment risks which the latter is willing to assume. This blog has been based on information which has been made public, obtained from sources believed to be reliable, but it has not been verified by ZuluTrade. No representation or warranty (expressed or implied) is made as to the accuracy, completeness, correctness, timeliness or fairness of the information or opinions herein, all of which are subject to change without notice. No responsibility of liability whatsoever of howsoever arising is accepted in relation to the contents hereof by ZuluTrade or any of its directors, officers, employees. Further, no representation is being made that any results will be achieved, and past performance is not indicative of future performance.