Japan is on Monday scheduled to release final numbers for February's leading and coincident indexes, highlighting a light day for Asia-Pacific economic activity.
Little change is expected from the preliminary readings that showed the leading index with a score of 96.6 and the coincident with a reading of 93.7. Japan also will see March figures for supermarket sales; they were up 0.3 percent on year in February.
Australia will provide producer price data for the first quarter of 2012. Forecasts suggest an increase of 0.5 percent on quarter and 2.2 percent on year after collecting 0.3 percent on quarter and 2.9 percent on year in the previous three months.
The material has been provided by Instaforex Company - instaforex.com
USD/JPY's recovery attempt last week was limited at 81.77 after facing resistance from near term falling channel. Initial bias is neutral this week first. On the downside, below 81.16 minor support will indicate that choppy fall from 84.17 is likely resuming for 61.8% retracement of 76.02 to 84.17 at 79.13. Though, break of 81.77 temporary top will now affirm the case that pull back from 84.
GBP/USD rose to as high as 1.6149 last week and Initial bias remains on the upside this week for 1.6165 cluster resistance. Note that GBP/USD is building upside momentum again with the current rally and 1.6165 would likely be taken out. In such case, completion of decline from 1.6764 should be confirmed. And, stronger rally should be seen to 100% projection of 1.5234 to 1.5991 from 1.5602 at 1.
USD/CHF's fall and break of 0.901 support last week suggests that rebound from 0.9001 has completed at 0.9251 already. More importantly, the development now suggests that recent price actions from 0.8930 are merely a consolidation pattern and could have finished at 0.9251 already. In other words, fall from 0.9594 is no over and is possibly resuming.
Simultaneous Release at TheGeekKnows.com Learn Forex Trading and read exclusive EUR/USD Reviews. Good day forex traders. In the previous forex forecast review of the EUR/USD, we noted that both SMAs were flat and that indicated possible uncertainty. Fundamentally we noted that China’s growth had slowed and a number of US Federal Reserve heads were inclined towards a low interest [.
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