EUR/USD продолжает укреплять свои позиции после поглощения стопов в зоне $1.4220/30. Курс показал максимумы на $1.4241. В области $1.4250 расположены ордера на продажу, далее - на $1.4275. Важный уровень сопротивления представлен на $1.4282 (максимумы начала ноября).
Although the S&P 500 recently backed off of the 1300 line, it hasn't exactly been knocked down. Instead, the benchmark index continues to sport a 1.5% gain. The Dow has displayed similar strength, which has blue chips on pace for their best collective three-day gain since September.
General Electric (GE 19.71, +0.46) has been one of today's best performing blue chips.
In contrast, Bank of America (BAC 13.95, -0.09) has been one of the worst performing Dow components of this session.
Kraft (KFT 30.84, -0.15) is also mired in the red, although it has worked its way up from its morning low, which was set in response to news of a downgrade by analysts at JPMorgan.
GBP/USD holds $1.6300 area after seeing highs earlier around $1.6310. Focus now on $1.6344 area of recent highs and the decent supply clustered from there to $1.6350.
NYMEX April light sweet crude oil futures (WTI) holds up $0.96 at $103.03 per barrel. Friday, WTI topped out at $103.66 and Brent at $117.29. WTI posted a new nearly 30-month high of $106.95 March 7.
The yen weakened for a second day as Japan made progress in cooling nuclear reactors at a crippled plant, increasing appetite for higher-yielding assets.
The yen extended losses after sliding the most against the dollar in six months on March 18, when the Group of Seven nations intervened to bring the currency down from a postwar high.
The yen surged to a post-World War II high of 76.25 versus the dollar on March 17 after a 9.0-magnitude earthquake and tsunami struck Japan on March 11, damaging cooling systems at a nuclear-power plant north of Tokyo. The currency’s gain came amid speculation investors were repatriating assets to fund an estimated 10 trillion yen ($123.6 billion) for reconstruction.
Japan’s Prime Minister Naoto Kan said today he sees “light at the end of the tunnel” for Japan’s crisis and that progress is being made in restoring power to reactors at the Fukushima Dai-Ichi nuclear plant.
The G-7, which comprises the U.S., Japan, Germany, the U.K., France, Canada and Italy, sold yen on March 18 after finance ministers spoke on a conference call, according to Japan’s Vice Finance Minister Fumihiko Igarashi. The G-7 statement promised to “provide any cooperation” with Japan.
“Today there is a bit of relief that the situation in Japan is not deteriorating,” which is damping demand for the Swiss franc, said Arne Lohmann Rasmussen at Danske Bank A/S in Copenhagen.
Euro-area finance ministers plan to meet in Brussels to further develop a package of measures on the region’s debt crisis and economic governance. European Union leaders will hold a summit March 24-25 to discuss the measures.
The Australian and New Zealand dollars climbed for a second day as higher oil prices increased demand for currencies linked to commodities. Crude oil futures rose as much as 2.3% in New York.
EUR/USD rises back to the $1.4200 level just ahead of the London close, on approach to the $1.4204 high from earlier. Some traders warning of stop risk atop $1.4205 now, consistent with earlier talk of stops to $1.4220.
EUR/USD continues to chop around in the zone below $1.4200 after sales capper further rise. rate currently holds around $1.4185. Earlier chatter of semi-official sales into the high also acting as a deterrent.
GBP/USD triggered stops on the break above $1.6260 and printed highs on $1.6295. Rate currently holds around $1.6276. Next resistance/offers seen into $1.6300. A break of $1.6300 to open a move back toward recent highs at $1.6344, with strong offers seen in place between $1.6340/50.
The US Dollar has jumped higher across the board, coming off lows against Euro and Pound after the Treasury Department announced its plan to sell its portfolio of Mortgage backed securities purchased during the crisis.
The Treasury Department announced on Monday its plan to sell its portfolio of $142 billion Mortgage Backed Securities, selling up to $ 10 million MBS per month, according to sources by the commerce Department.
Meeting support again on approach to $1.6255/45, as rate pulls back from extended highs of $1.6295. Euro-sterling holding heavy, able to make a brief show under stg0.8700, touched stg0.8698 currently around stg0.8702 seen providing some buoyancy. Below $1.6245 to allow for a retest on support at $1.6230. Resistance remains at $1.6295/00.
U.S. stocks were poised to open higher Monday, as investors felt encouraged by progress in Japan's nuclear crisis and AT&T's $39 billion deal to acquire T-Mobile USA.
Over the weekend, Japanese engineers made progress in cooling nuclear reactors that had overheated following the devastating earthquake and tsunami that struck the country on March 11.
Meanwhile, turmoil in North Africa heated up over the weekend. The United States and its allies launched an airstrike on Libyan military targets, in an effort to subdue forces of Libyan leader Moammar Gadhafi.
Investors also welcomed an announcement from AT&T (T) on Sunday, that it will acquire T-Mobile USA from telecommunications company Deutsche Telekom for an estimated $39 billion in cash and stock.
The new entity -- if approved by regulators -- would be the biggest in the United States, combining AT&T's 95 million customers with T-Mobile's 34 million users for a total of 130 million subscribers.
AT&T shares were up 3% in pre-market trading. Meanwhile, shares of rival Sprint Nextel (S) fell 12% in premarket. And Verizon's (VZ) stock edged up about 2%.
Economy: The housing sector will be in focus Monday when the National Association of Homebuilders reports on February existing home sales.
Economists expect sales to come in at an annual rate of 5.05 million in the month, down from 5.36 million the month before, according to consensus estimates.
Companies: Tiffany and Co. (TIF) shares rose 5.6% in pre-market trading, after the luxury retailer beat analysts' forecasts with earnings of $1.41 per share in its latest quarter.
Citigroup (C) shares rose 3.3% after the bank announced a 1-for-10 reverse stock split and said it plans to reinstate its quarterly dividend.
Gold futures for April delivery rose $17, or 1.2%, to $1,433.10 an ounce.
The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 3.33% from 3.26% late Friday.
Offers: $1.4175/85, $1.4200, $1.4230/35, $1.4250, $1.4280/85, $1.4300, $1.4330/35
Bids: $1.4150/45, $1.4130, $1.4100, $1.4085/80, $1.4055/50
Offers: Y81.75/80, Y82.00, Y83.00
Bids: Y80.60, Y80.50, Y80.25, Y80.15/10
The yen weakened for a second day against all of its major counterparts on speculation Group of Seven nations will keep selling the currency to curb its appreciation and help support Japan’s economy.
The euro depreciated against the dollar as the region’s finance ministers meet to hammer out details of a debt-crisis solution.
The yen extended losses after sliding the most against the dollar in six months on March 18, when the G-7 intervened to bring the currency down from a postwar high and assist Japan’s recovery from its biggest-ever earthquake. “People are not really willing to take on the G-7 for now,” said Geoffrey Yu, a foreign exchange strategist at UBS AG. “They know the G-7 will intervene again.”
An exchange rate of “80 per dollar is probably the line in the sand that the Bank of Japan would want to defend,” Yu said.
Wells Fargo & Co. and Bank of Tokyo-Mitsubishi UFJ Ltd. say the yen’s gains will reverse as Bank of Japan Governor Masaaki Shirakawa injects cash into the financial system just as his peers prepare to tighten monetary policy.
Switzerland’s franc weakened as Japan made progress controlling a damaged nuclear reactor, sapping demand for the currency as a haven.
EUR/USD: traded within $1.4145-$1.4185 range.
US data starts at 1400GMT. The pace of existing home sales is expected to slow to a 5.15 million annual rate in January after rising 2.7% in the previous month.
EUR/USD $1.4070, $1.4100, $1.4200
USD/JPY Y80.50, Y81.25, Y81.50, Y83.00
AUD/USD $1.0000, $0.9900
European markets keep positive mood
European shares gained on Monday after investor confidence rose on signs the situation at Japan's nuclear plant was improving, with telecoms lifted by Deutsche Telekom's (DTEGn.DE) sale of T-Mobile USA to AT&T.
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