202093 Resource 128466 128654 128654 1208848453743 1208848453743 Controlled European Mid Morning Update 22nd April 2008 Dollar making gains in early Europe <p><font size="1"><strong>Releases from Europe:</strong><br />&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forecast&nbsp;&nbsp;&nbsp; Actual&nbsp;<br />March Swiss Trade Balance&nbsp; CHF&nbsp;&nbsp; 0.70bn&nbsp;&nbsp;&nbsp; 1.25bn</font></p><p><font size="1">The Swiss trade balance is holding up reasonably well but overall declining &ndash; exports taking an 8% fall. Given the current global circumstances this trend is likely to continue for the time being. </font></p><p><br /><font size="1"><strong>The following economic releases are due today:</strong></font></p><p><font size="1"><strong>March</strong><br />March Italian Trade Bal Non-EU&nbsp; EUR&nbsp;<br />U.S. Existing Home Sales&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; (MoM)&nbsp;&nbsp; - 1.6%<br />U.S. Existing Home Sales&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.92mn</font></p><p><font size="1"><strong>April</strong><br />U.S. Richmond Fed Mfg Index&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00</font></p><p><br /><font size="1">Economic releases are limited once again today but both U.S. existing home sales and the Richmond Fed manufacturing Index both have potential to impact on the Dollar. The latter is expected to reverse most of the rise seen in March while existing home sales really don&rsquo;t stand much chance of providing any relief. </font></p><p><font size="1">If these are both negative then the Dollar could come under pressure again. However, while new Dollar lows are still conceivable against the Euro, both the Swissie and Yen should remain comfortably above their lows. </font></p><p><br /><font size="1"><strong>Note important support and resistance areas:</strong></font></p><p><font size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USDJPY&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EURUSD&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USDCHF&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GBPUSD<br />Res:&nbsp; 104.42-63&nbsp;&nbsp;&nbsp; 1.5982-25&nbsp;&nbsp;&nbsp; 1.0230-82&nbsp;&nbsp;&nbsp; 1.9925-66<br />Res:&nbsp; 103.50-70&nbsp;&nbsp;&nbsp; 1.5900-44&nbsp;&nbsp;&nbsp; 1.0131-52&nbsp;&nbsp;&nbsp; 1.9829-62</font></p><p><font size="1">Spt:&nbsp;&nbsp; 102.39-72&nbsp;&nbsp;&nbsp; 1.5802-29&nbsp;&nbsp;&nbsp; 1.0020-63&nbsp;&nbsp;&nbsp; 1.9736-45<br />Spt:&nbsp;&nbsp; 101.54-85&nbsp;&nbsp;&nbsp; 1.5710-65&nbsp;&nbsp;&nbsp; 0.9907-39&nbsp;&nbsp;&nbsp; 1.9640-80</font></p> 9 application/xml false currencies existing home sales Forex FX Richmond Fed Swiss trade balance Want to know more about currency trading? Read about the Forex market http://www.gftforex.com/land/index.asp?aid=446 Mozilla/4.0 (compatible; MSIE 7.0; Windows NT 5.1; hc; .NET CLR 1.1.4322; .NET CLR 2.0.50727; MS-RTC LM 8) 127.0.0.1 127.0.0.1 ICopsey 202.216.243.97 false true false false true 128466 blog blogsite/GFTForex/web