Forex: EUR/USD retreats from highs

FXstreet.com (Barcelona) - After hitting the area of 1.2880 overnight – home of the 200-day moving average – the singe currency initiated a correction lower, returning to the current levels of 1.2855/60 ahead of the Spanish Unemployment Change due later. Prior surveys expect the jobless to rise by 30.2K during the month of March.

Ahead in the day, the final figures of the manufacturing PMI prints will also be released in the euro zone members.

At the moment, the cross is up 0.05% at 1.2857 facing the next resistance at 1.2888 (MA200d) followed by 1.2890 (highMar.26) and finally 1.2901 (MA10d).
On the flip side, a breakdown of 1.2751 (low Mar.27) would open the door to 1.2730 (low Nov.19) and finally 1.2680 (61.8% of 1.2042-1.3711).

Apr 2, 2013

Australia: RBA Commodity Index SDR falls further in March

On an annual basis the Australian SDR Commodity Index dropped 7.5% in March, following a 7.2% decrease in February, the Reserve Bank of Australia reported on Tuesday.

Japan’s Nikkei eases some more ahead of BoJ

Still ahead of the BoJ, Japan’s Nikkei Stock Average fell again today, by -0.72% this time, as the USD/JPY dropped below 93 for the first time in a month. South Korea’s Kospi dropped by -0.84%, and both Hong Kong’s Hang Seng (+0.04%) and Mainland China’s Shanghai Composite (-0.05%) closed around flat. Investors also followed the weaker-than-expected manufacturing ISM overnight (51.3 against consensus 54.0).