The BCJ remained unchanged interest rates

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Date: Thursday February 19 2009, 7:15 AM CDT
The daily analysis FOREXpros.es © Copyright 2009, Core Financial Group, Inc.. and Jason Alan Jankovsky All Rights Reserved.
Night view Asia / Europe

• Dollar fell, dominates a technical trade
• The Bank of Japan kept interest rates unchanged, as looked

The day's events
Schedules EASTERN (-5 GMT)
• 8:30 am USD PPI m / m
• 8:30 am USD Unemployment Claims
• 8:30 am USD Core PPI m / m
• 10:00 am USD Philly Fed Manufacturing Index
• 10:00 am USD CB Leading Index m / m
• 10:30 am USD Natural Gas Storage
• 11:00 am USD Crude Oil Inventories
• 1:15 pm USD FOMC speak Lockhart

For Friday
Timetable Eastern (-5 GMT)
• 8:30 am USD Core CPI m / m
• 8:30 am USD CPI m / m

Currency market

Dollar fell at night, while there was a trade mostly technical and stops were fired. There were no events that really drive these fluctuations, however, the level of technical support is maintained, which was interpreted as an imminent corrections. DOLAR started the firm in Asia, and two-way trade at night, while he had begun to fall against most currencies, opening in New York at minimum.
Cable maximum recorded in Europe in the 1.4420 area, stops and placed in the zone of 1.4340, which benefited the pair. Is offered on the firm and continued to 1.4400, so it can continue to rise, stops were placed in the area of 1.4430.
The euro was strong and showed higher levels in the zone of 1.2691, after opening in New York, there were stops in the 1.2620 and 1.2700. Recorded in the minimum 1.2526, after opening, suggesting that sellers were under pressure.
The pair USD / JPY remained strong at night, and the maximum recorded 93.68 and 93.28 at the minimum. BCJ's decision to maintain unchanged the interest rates was ignored, as the Bank of Japan really has no room to maneuver.
In my view the dollar is starting a correction after it recorded the highest this week and will probably need two or three days to stabilize. U.S. economic data published were disappointing, and negative data are expected for today and tomorrow, so the technical trade is influenced by these events. It is estimated that the dollar today and back towards the end of the week.

GBP / USD

Resistance 3: 1.4520
Resistance 2: 1.4450
Resistance 1: 1.4420
New York: 1.4395
Support 1: 1.4090/1.4100
Support 2: 1.4000
Support 3: 1.3950/60
Comments
The torque increased after reaching the area of 1.4135 yesterday. Today's data will be negative for the dollar, stops are placed at 1.4440. The pair should soon reach 1.4500 on 1.4700 and close to keep the bulls happy. The resistance level was estimated at 1.5000, but stops are placed on the ceiling. Follows a two-way trade and volatility looks. Several operators are still putting on short positions.
Friday: Times EASTERN (-5 GMT)
4:30 am GBP Retail Sales m / m

EURO / USD

Resistance 3: 1.2820
Resistance 2: 1.2720/30
Resistance 1: 1.2700
New York: 1.2695
Support 1: 1.2500/10
Support 2: 1.2480
Support 3: 1.2450
Comments
The pair improved. If stops are in the 1.2720 the pair will continue to grow. There were significant operators trading in the evening. The pair failed to remain in the area of 1.2900. We observed a two-way trade. There were sovereign trading. The technical level is maintained at 1.2920/50 and expected resistance. If you remain closed at 1.3030 on the upside.
Friday: Times EASTERN (-5 GMT)
2:45 am EUR CPI m / m French
3:00 a.m. EURFlash French Manufacturing PMI
3:00 am EUR French Flash Services PMI
3:30 am EUR German Flash Manufacturing PMI
3:30 am EUR German Flash Services PMI
4:00 am EUR Flash Manufacturing PMI
4:00 am EUR Flash Services PMI

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