Today’s meeting began with a battery loaded macro data in Europe and Asia, highlighting the publication of the Consumer Price Index (CPI) in China which reported in February, its highest in 16 months, renewing the prospects for monetary tightening overheating and curb future economic bubble in China. However, possible actions to take are taken as positive by the operators, then increase the upward pressure to appreciate the yuan. According to the Bureau of Statistics, the CPI rose to 2.7% in February from 1.5% in January year measurement, easily beating forecasts for a rise of 2.3%.

Among other things, we have known that Japan also revised down the growth of its Gross Domestic Product (GDP) between October and December to 3.8% year-paced, eight tenths less than originally announced, which has not slowed their expectations for economic recovery. Significantly, in 2009, during the global crisis, the Japanese suffered a GDP drop of 5.2% over the previous year, according to the Ministry of Finance, which represents a drop two tenths higher than initially reported. For its part, the government stressed that Japan’s recovery pillars are stable, with exports rose 5% in the last quarter of 2009 and domestic demand rose 0.7% thanks to the incentive plans made.

Among other things, has announced that Australia’s unemployment rate remained in line with expectations, after increasing 0.1%, placing it at 5.3% in February, while in Europe, the European Central Bank ( ECB) has released its monthly report on the economy of the old continent. According to the Central Bank, the latest reports indicate that recovery is under way and maintains the stance of keeping interest rates unchanged for an indefinite period. For its part, the report highlights that the CPI will remain moderate and stresses that high government deficits threaten stability and economic growth, a key pillar of the European Union, warning that the consolidation of public finances should begin no later than the 2011.

For the next several hours, investors focus on initial requests for unemployment and the trade balance of U.S. and Canada, the decision on interest rates from the Swiss National Bank (SNB) and the New Zealand retail sales.
In stock level, the selective in the Asian region closed the day higher after the inflation data from China, while Europe, the floor of the old continent operating in red, after the prospect that China would adjust its monetary policy to curb its economic overheating. On Wall Street U.S. futures predict a session start to fall.

With regard to raw materials, a barrel of West Texas Oil (WTI) on the day picks up 0.60 cents to trade at 82.10 dollars right now the Chamber of Commerce of New York (NYMEX). On the technical side, the black gold could go for the peak at 82.17 today, bassist rebound potential area that, if overcome, could lead the commodity to the highest 83.94 per week in dollars. In the case of making a turn, the oil could be consolidated with 23.60% of fibo drawn between 82.17 and 81.49 dollars.

Levels and key trends:

EUR / USD (euro / dollar): We continue in the period of consolidation to continue in the range between the annual minimum and 1.38. In 4 hours chart can be drawn from the maximum short trend March, which came into play yesterday curbing the aspirations of the euro. If the euro wants to seek maximum in March, will break the guideline commentary. A low, losing the support of 1363, the pair slid up to 1.3806, which if lost will seek the double floor on 1.3552. The barrier of 1.35 could precipitate the pair to the monthly minimum. However, observing the pattern of the last month, a time is below 1.35, could bounce back strongly.

U.S. $ / JPY (dollar / yen): Yesterday the pair met again with the resistance of 90.69, which managed to overcome but not consolidated. We said it would not be easy since the last maximum is less than daily chart. Therefore, if you break it, will head towards the 92 yen per dollar. The main resistance along the way are the 200-day Moving Averages of the 91,152 daily. The Bear, the first step is to get rid of the uptrend that is drawn from the least Monday. It will be the first sign that the 90.69 are holding and could move towards the 61.8 fibo located in the 88,235. By the way, we must mention the barrier 90 and the minimum located in the 89,634 weekly. In case of a strong movement in the yen could come into play as the support of 89,376.

GBP / USD (Pound against the U.S. dollar): Yesterday the pound managed to hold the 1.4888, and now thanks to high inflation is driving the estimates on 1.5000. After breaking the MM 200 days in one hour, the next significant resistance is located at 1.5087. His passing would leave the maximum opportunity to strike on Monday as there will be broken the 61.8% fibo of the downward movement of the week. Therefore, be areas where operators try to get short the dollar. However, long-term trend remains bearish. The first step to think about a possible change of direction would be breaking the MM in 20 days daily chart.

XAU / USD (ounce of gold against the dollar): Gold rose yesterday we scored the goal of $ 1105 per ounce. In an hour figure is noteworthy that between yesterday and today has made a double bottom at the level mentioned. Therefore has a chance to recover $ 1112. In this area gold bears try to make a pullback to continue the downward wave. Breaking the barrier of the 1100 route will open up to 1088.5. The Bull, once about 1112, efforts to reach the highs of yesterday, the MM 1127.6 with 200 days in time.

Opportunities of the day:

EUR / CHF (Euro against the Swiss franc): The pair is very close to the barrier of 1.46000 francs per euro, levels as observed in evolution does not like the Swiss National Bank (SNB). Today’s decision will be known in interest rates, which are expected to remain at 0.25%. However, one must be attentive to the joint statement. The estimated market would continue to assert that it will continue slowing the appreciation of the franc strong. Otherwise, the crossing might seek to break the 1.46. On the other hand, we must note the maximum monthly as a level to beat if the price bounces hard. An intervention by the SNB seek to stabilize the level crossing in January on 1.47. Finally, it is important to note that the minimum of 1009 is in the 1.4578.

NZD / USD (New Zealand dollar against the U.S. dollar): The force broke par yesterday the upward trend that was in force since the March low. However, it has found good support at MM 200 days in one hour, you’re doing it has retrieved 0.7000. It will be a crossing that will have great potential to generate strong runs. Early in the afternoon, will be available in the U.S. the number of requests for weekly unemployment benefits and the trade balance. Continue with a decrease in requests could help the dollar to move forward. The key support to lose are the minimum of 0.6962 after today. In this case, it could precipitate in search of 0.69. Upward, top of yesterday are not impossible if the New Zealand retail sales help lift the spirits lost by the cautious statement by the Reserve Bank of New Zealand. The first resistance is located at 0.7026, the area where the pair could make a pullback.