AUDUSD: The Australian dollar was trading slightly lower Wednesday as the market absorbed good news from the U.S. overnight, but took in another round of weak domestic data in the Asian session.
In annual terms, the consumer sentiment index fell 7.7% in March on a seasonally-adjusted basis. In trend terms, the index fell 0.5% in March compared with February, contributing to a 6.4% annual decline.
We expect a range for today in AUDUSD rate of 1.0380 to 1.0510
We BUYING AUDUSD at the current market price 1.0440
Stop loss at 1.0380
Target at 1.0490 and 1.0530
EURUSD: Wage cuts demanded by international creditors should begin to make Greece competitive again, and a lowering of the corporate tax rate from 25% could lure companies to set up operations.
Ireland’s 12.5% corporate tax rate has been viewed as having helped the country attract companies. Tax evasion and corruption have also be seen as major problems for the Greek government to overcome in order to stabilize its finances.
Economic policies agreed as part of the second EUR130 billion bailout from the euro zone that was finalized this week.
We expect a range for today in EURUSD rate of 1.2990 TO 1.3120
We set limit BUY order for EURUSD at 1.3010
Stop loss at 1.2950
Target at 1.3060 and 1.3110
USDJPY: The ears of investors the world over pricked up overnight as the U.S. Federal Open Market Committee, which sets interest rates for the world’s biggest economy, upgraded its assessment of its outlook on several counts.
After a day-long meeting, the FOMC emerged with more positive views on U.S. employment trends and business investment, and a more stable global outlook. The concern in the U.S. remains its housing sector
We expect a range for today in USDJPY rate of 81.90 and 82.60 (Further Bullish expected)
WE AVOID TRADING THE PAIR TODAY!
