At the workshop today, we see as the dollar weakens against major currencies, after decreasing risk aversion in the currency market as a result of good macroeconomic data for China. Recall that in yesterday, the Asian giant’s inflation recorded the maximum 11 months, reflecting the strong growth experienced in recent months, while in the evening session, we learned that housing prices in China have grown at fastest pace in 20 months. We have also strengthened the euro after the collapse of conversation around the financial reform in the United States and knew that industrial production in the Euro Zone were located in positive territory in January.

Among other things, the yen appreciates against the dollar, disclosed after the Bank of Japan (BoJ) could increase the amount of money on incentive plans, because the current has not emerged the desired effect on the economy. For his part, Prime Minister of Japan, Yukio Hatoyama, said today that the country needs to take measures against the yen’s recent strength which, in its view, does not reflect the situation of Japanese economic and industrial weakness, leaving the door open for perform the BoJ intervention if Japan’s currency continues to appreciate.
For the next few hours, investors focus on U.S. retail sales and consumer sentiment from the University of Michigan and the unemployment rate in Canada, being stationed in Europe as the president’s speech the European Central Bank (ECB), Jean Claude Trichet, the economics of the old continent.

In stock level, the selective in the Asian region closed higher with the exception of the Hang Seng, after learning that China would tighten monetary policies to curb economic overheating. In Europe, the indicators of the region operating in green numbers. On Wall Street U.S. futures bode parquet logon profits.

With regard to raw materials, a barrel of West Texas Oil (WTI) traded at this time to 82.68 dollars a barrel on the New York Mercantile Chamber (NYMEX). Since the beginning of session, the black gold is appreciated 0.77%, registering a 82.74 daily maximum and minimum at 82.11 dollars. For the next few hours, the oil could continue to move along, then record a new high if the dollar continued to depreciate. A low, considering the support is at 82.25 dollars a barrel.

Levels and key trends:

EUR / USD (euro / dollar): The pair in the morning European force has been boosted by up to 1.38, leaving a trail of 100 pips. Currently, operators are seeking to curb the dollar the currency of the old continent before receiving the news from the United States. Primarily it should be stressed business inventories and consumer confidence, because the last few months have been lower than estimated. Therefore, improving them could encourage optimism about the U.S. economy by helping the greenback to continue strong. On the other hand, 1.38 is the maximum range in which the price has been during the last month. That is, it will not be easy to overcome the 1.38, but if you get the doors would open for a correction up to 1.40, fibo 50 of movement of 2009. By the way, we must stress the 1.3872, the 38.2 fibo described momentum. A low, recover 1.37 could leave a V-shaped figure, which would trigger heavy selling yesterday for the minimum.

USD / JPY (dollar / yen): The pair during the European morning has broken the triangular figure downward after failing to overcome the resistance of 90.69. It is seen in the daily chart and is forming a resistance at that level. In this case, the objective could be to seek the 61.8 fibo, traced from 84.82 until 93.76. The downward movement can be preceded by a pullback in the 90,495. I should mention that if you exceed the soil intraday, the target may be located in the minimum weekly 89,634, losing the barrier of 90. Upward, overcoming 90.60, would go for the target in the 200-day moving averages on daily chart located in the 91,135 yen per dollar.

GBP / USD (Pound against the dollar): During the European morning, the pair has made a perfect turn in the MM 200 days with the uptrend, drawn from at least March 10, generating a new wave upward. Having broken the 1.5089 may bring a motion seeking to exceed the maximum monthly 1.5205. In the daily chart shows that the MM are operating 20 days of resistance, therefore, to pass it will be the first step to think about a possible spin. A low, unable to 1.520, could bring a motion seeking the short-long trend commentary. The goal after this boost may be the least of today along with the GM commented 200 days.

XAU / USD (ounce of gold against the dollar): The price of gold after relying on the support that was located in the $ 1105, it drilled and marked a new low in 1100 U.S. dollars, which could be a psychological level. It is common to pierce the support price to get orders to the contrary thus giving some extent the movement. After having relied on this support the shift was brutal and is at present playing strength in 1118 dollars, that would allow him to put the money in installments lived near the top this week. The overall goal is in 1141. A noise environment in which we might think would be the 1129. An alternative scenario would be a decrease of price support to line it would place in settings of 1110.
Opportunities of the day:

EUR / JPY (euro against the yen): The pair made a good pullback yesterday on the trend drawn from the maximum short-February. The Bull, the goal for today is located in 125.24, the highest February. By the way, we must stress the 124.55. A low, one should bear in mind the upward trend can help should seek a break before continuing upward. The guideline is outlined in figure than an hour from the minimum of 10 March. A low, losing 123.92 could lead a movement for the 123 strong support yesterday.

USD / CAD (Canadian dollar against the U.S. dollar): The weak dollar has been evident all day today. The crossing is intended to break the minimum of 2009, but it needs some more employment data that forecasts. Results are similar to the 1.0208 is the last significant support before reaching parity in the exchange rate. In case rebounding, should take into account the MM 200 days in hour before reaching 1.03. In addition, this week has done good in the 1.0321 double top to take into account.