AUDUSD: The Reserve Bank of Australia sold A$372 million in the spot foreign-exchange market in February, figures issued by the central bank Thursday show.
The central bank also bought A$350 million from the government during the same month.
Taking the Reserve Bank’s spot foreign-exchange market transactions and business it did with the government together, the central bank sold a net A$22 million in February.
We expect a range for today in AUDUSD rate of 1.0470 to 1.0550 (Yesterday, we bought the aussie at 1.0440 and the pair reach both target at 1.0490 and 1.0530. There is a minor resistance at 1.0550, break through this level will head toward 1.0630-50)
WE AVOID TRADING THE PAIR TODAY!
EURUSD: The popularity of Greece’s two main political parties, which have backed the country’s coalition government, continues to deteriorate
Based on poll numbers, it appears that the election to replace the current caretaker government could yield a fractured result that would require the creation of a multiparty government to follow through on promised changes to continue to qualify for a new EUR130 billion ($170.12 billion) bailout package from international lenders.
We expect a range for today in EURUSD rate of 1.2960 to 1.3120 (Yesterday, we set limit and bought the pair at 1.3010, the pair reached both target at 1.03060 and 1.3110)
WE AVOID TRADING THE PAIR TODAY!
USDJPY: The balance sheet of the U.S. Federal Reserve grew over the last week as the central bank continued with a plan to adjust its portfolio and stimulate an economy it expects to grow only modestly this year. The Fed’s asset holdings in the week ended March 7 were $2.896 trillion, up from $2.887 trillion a week earlier.
The Fed’s holdings of U.S. Treasury securities grew to $1.660 trillion, up slightly from $1.659 trillion a week earlier. The central bank’s holdings of mortgage-backed securities increased to $853.89 billion, up from $840.80 billion in the previous week.
The Fed’s portfolio has more than doubled since the financial crisis of 2008 and 2009, as the central bank bought mortgage-backed securities and government bonds to keep interest rates low and stimulate the economy.
We expect a range for today in USDJPY rate of 83.00 and 84.00
WE AVOID TRADING THE PAIR TODAY!
