The Bank of Japan’s Tankan survey of large industries and manufacturers beats expectations and previous expectations, confirming stronger manufacturing sector in early 2011.
Euro’s Fuse Has Been Lit, Rate Expectations Now Critical
Euro-region fundamentals deteriorated significantly this past week; and yet the euro has given up relatively little ground against its primary counterparts – the US dollar, British pound, Japanese yen and Swiss franc.
As noted earlier in a separate report that the EUR/GBP pair had been trending to the downside starting in the middle of January, “following commentary by the European Central Bank that interest rates are likely to rise as soon as the next meeting in April, the pair immediately reversed course and began its push towards fresh yearly highs.”
Proprietary trading services provided through Dimension Trading Group LLC Member CBSX – CBOE Stock Exchange & SIPC RISK DISCLAIMER There is a very high degree of risk involved in trading equities. Trading is not for every investor and only risk capital should be used. Past results are not indicative of future returns. Prism Trading School, LLC (Prism) and all individuals affiliated with Prism assume no responsibilities for your trading and investment results. The indicators, strategies, articles and all other features are for educational purposes only and should not be construed as investment advice. Any person who chooses to use this information as a basis for their trading assumes all the liability and risk for themselves and hereby and absolutely agrees to indemnify and hold harmless Prism, its principals, agents and employees. All of the material contained herein is believed to be correct, however, Prism will not be held responsible for accidental oversights, typos or incorrect information from sources that generate fundamental and technical information. Prism does not warrant the completeness or accuracy of such information, and does not warrant any results from the use of the information. Your use of Prism materials is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade and make your own independent decisions regarding any securities mentioned …
US Dollar: Nonfarm Payrolls to Set Tone for April in Pivotal Week for FX
The US Dollar finished the week roughly unchanged against major counterparts, holding key lows against the Euro despite impressive gains in the US S&P 500 and broader risk sentiment.
Consumer confidence in the United States fell to a three-month low in March, according to the Conference Board’s confidence index released today. Sentiment appears to have fallen on rising energy costs, which has propelled oil to its highest level in more than two years.