AUDUSD: The Reserve Bank of Australia sold A$944 million in the spot foreign-exchange market in March, figures issued by the central bank Thursday show.
The data, included in the RBA monthly bulletin, reflect foreign-exchange transactions against the Australian dollar undertaken by the Reserve Bank with authorized foreign-exchange dealers in Australia or banks overseas.
The central bank also bought A$967 million from the government during March.
We expect a range for today in AUDUSD rate of 1.0300 to 1.0400 (We Bought at 1.0320 and close out at 1.0400 ranges)
WE STAND ASIDE TODAY
EURUSD: If the euro-zone crisis worsens, causing deficits to balloon and making it more challenging for governments such as Italy and Spain to meet their debt obligations
IMF resources and the pace of austerity policy in the euro zone will be the central focus of discussions among finance ministers and central bankers gathering in the District of Columbia for meetings of the IMF and the Group of 20 largest industrialized and developing economies this week.
New commitments from Japan and Scandinavian countries this week added roughly $77 billion to the previous pledge from Europe to boost IMF resources by $200 billion. The IMF is seeking around $400 billion in new cash.
We expect a range for today in EURUSD rate of 1.3060 to 1.3160
We set to SHORT EURUSD at 1.3160
Stop loss at 1.3220 from
Target at 1.3080 to 1.3030
USDJPY: For years, U.S.-based manufacturers have complained that China’s cheaper currency gives the emerging global economic powerhouse an unfair competitive advantage. While U.S. congressional lawmakers have pushed legislation that would penalize China for it currency policy, the U.S. Treasury has seen Beijing’s gradual efforts as a trend that would likely continue because it is in China’s interest. Also, other major trade irritations–such as protecting intellectual property and competition with government-funded corporations–have slowly taken a higher priority.
We expect a range for today in USDJPY rate of 80.50 to 81.80 (We bought USDJPY at 80.80, and closed out at 81.40 ranges)
We BUY USDJPY at 80.80 ranges ((closed out at 81.40 ranges)
Stop loss at to 81.10 (from 80.80 from 80.30) if you intend to hold
Target at 81.30 and 81.70 (reached target at 81.46)
