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We present here a summary of the situation of different currencies in the foreign exchange market for the day 31/03/2011.
USD-CHF in the U.S. public sector, for that month, the number of job losses expected to fall 18% 50 702 (February), 41 528. For the first quarter of 2011, this figure is the lowest for a first quarter since the beginning of this statistic in 1995 to 130 749! For jobs in the private sector (index ADP National Employment), the increase appears to 201,000, against 208,000 the previous month. These figures are neutral and they can not get excited about a strong recovery in the labor market in the United States. However, the dollar has remained strong, rising to USD / CHF 0.9172 to 0.9274! For this last session in March, we play the following channel: 0.9175-0.9300.
EUR-USD The most major economic indicators das Euro zone yielded the following results:
business climate index to 1.41 (1.46 the previous month), the Economic Sentiment 107.3 (107.9), the industrial feeling to 6.6 (6.6), sentiment in the services to 10 , 8 (11.2) and consumer sentiment to -10.6 (-10). It is clear that the arrows are directed downward and that only inflation seems to justify the next rate hike by the ECB in April. In these circumstances, the EUR / USD was 1.4147 to 1.4049 folded and a test of the 1.4000 mark is possible soon. Channel fluctuation for this Thursday from 1.3975-1.4170.
USD-JPY index of manufacturing purchasing managers of March was released that night in Japan fell to 46.4, 52.9 cons. Construction orders for the month of February year on year fall up to 19.5%, housing starts also show a positive result in 10.1%, against 2.7% previously. Foreign investment in stock exchanges in Japan have increased from 891 to -13300000000 yen and Japanese bonds, they rose from 388.1 to 973,300,000,000 yen. The repatriation of yen as markets feared did not happen and the USD / JPY and the EUR / JPY cross, are at levels above those recorded before the earthquake, which seems completely normal compared to the economic future of Japan. USD / JPY is rising 82.35 to 83.19 and EUR / JPY cross from 116.20 to 117.27! We sell over the 83 and 117.00 for a return to 80 and 110.
EUR-CHF While the economic indicators of our business partners are declining, the Swiss KOF economic barometer shows a gain of 2.15 to 2.24 for the month of March. The Swiss franc could strengthen against the euro, but he has surprisingly kept pace with the yen! The cross EUR / CHF 1.2959 and rose to 1.3038 and we should finish the week on channel 1.2925-1.3075.
GBP-USD The CBI distributive trades survey in the United Kingdom is up to +15 for the month of March, against 6 in February. The Cable has again evolved around the 1.6000 mark, with a low of 1.5980 and a high of 1.6082. The session will be charged in the United States, with new unemployment claims, the index of purchasing managers in Chicago, orders for durable goods and factory orders. We maintain our central points located at 1.6000 and 88.00.
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