The EUR/USD opened in Asia at 1.4052 and traded in 1.4020/1.4068 range in Asia. It was a very low liquid session to close the week in Asia, as investors expected it to move to lower levels. Angela Merkel has convinced the other members of the EU to restructure a new EUR 500billions fund but it new response was bearish in the markets. USD/JPY and the JPY crosses started of on 81.42 and finally responded in heavy liquidity and a hawkish trend up to 81.84. GBP did not do lot this morning, as after downtrend on last week's closing session now trading in small range of 1.6000\1.6019. Sterling opened at 1.6007 this morning and will not be affected by expected new today.
15:00 GMT time we expect USD pending home sales, forecasted to be higher than previous negative of -2.8%. at 16:00 GMT European Central Bank president Trichet speaks, we expect him to analyze the EU Financial Stability Funds, Ireland's Crisis and many more other economic issues.
As for Equities in US, we see Dow 12,221 being positive by 50 point going up 0.41%, Nasdaq to 2,743 climing up +7 with an increase rate 0.24%. and S&P 500 gained up to 4 by 0.32%. In Europe we saw FTSE 100 Positive being 5.901, rising up 0.34% by 20 points. In Asia, Nikkei went down to 9.451 by 1.07%, Hang Seng to 22,991 by -0.72% and Shanghai trading positive at 3.127.
Sources: Various