AUDUSD: Reserve Bank of Australia Governor Glenn Stevens in Hong Kong Monday titled “Economic Conditions and Prospects” will be the focus next week. This will be followed by the release of minutes from the central bank’s March meeting Tuesday.
The Australian economy slowed in the December quarter and business expectations about economic conditions over the year ahead are more pessimistic than a year ago. Further the labour market continues to soften with employment falling and unemployment and underemployment rising
We expect a range for today in AUDUSD rate of 1.0530 to 1.0630 (Expect further uptrend but limited.
We set to SHORT AUDUSD at 106.60
Stop loss at 1.0720
Target at 1.0620 and 1.0570
EURUSD: International Monetary Fund Managing Director Christine Lagarde said Sunday in Beijing she sees hopeful signs that the world economy is stabilizing. But she also sees risks, including a slowdown in emerging-market economies.
Lagarde said that decisions by the European Central Bank and some European countries have been helpful. Measures to extend renewed support for Greece by the IMF and European countries
We expect a range for today in EURUSD rate of 1.3150 to 1.3250 (There might be a little resistance at the current market price 1.3170-1.3190. If it can break through, possible head toward 1.3250-80)
Set BUY STOP at 1.3205
Stop loss at 1.3170
Target at 1.3245 and 1.3285
Alternatively:
Set SELL STOP at 1.3150
Stop loss at 1.3185
Target at 1.3105 and 1.3085
USDJPY: U.S. Treasury yields held near five-month highs as investors continued to adjust their expectations for future U.S. interest rates after a run of solid U.S. economic data.
On the other hands, Traders speculating on the Chicago Mercantile Exchange piled on more than twice as many bets against the yen as of March 13, government data showed Friday. They held a net $6.4 billion in wagers that the yen will depreciate against the dollar, or 42,380 contracts, as the Bank of Japan’s insistence that it will fight a strong yen continues to reverberate.
We SHORT USDJPY at the current market price 83.50
Stop loss at 83.95
Target at 83.10 and 82.90
