MARCH 9th
Hello again everyone. Since last night we've been seeing a strengthening USD against the major currencies. There may be a reverse in the trend for the USD pairs with these upcoming announcements this afternoon and early tomorrow morning (UTC+9).
Firstly, today Mar. 9th at 5:15 PM (UTC+9) Switzerland's Consumer Price Index (CPI) will be released. The last announcement on February 10, 2011 was negative by 0.3% which caused the USD/CHF to jump 45 points within minutes.
The effect of the announcement actually happened 15 minutes before the result was scheduled to be released. The CPI announcement for Mar. 9th at 5:15 PM (UTC+9) is expected to rise 0.7% from the Feb. 10th announcement; a high expectation indeed. If the result doesn't exceed the forecast, we could be looking at a similar movement upward; w hich is definitely good for all of those who bought USD/CHF way at the bottom several days back.
MARCH 10th / New Zealand
Although the Reserve Bank of New Zealand hasn't changed their Official Cash Rate (Interest Rate) from 3.00% since July 29 of last year, they are expected to decrease the rate down to 2.75% tomorrow March 10th at 5:00 AM (UTC+9). The rate was increased from 2.75% to 3.00% last year July but it had no effect on the NZD since it was expected. The rate remaining at 3.00% could be monumental for the NZD. Also, a result that is more that -0.25% can severly weaken the NZD against the other major currencies. Keep on the lookout; even for you folks out here in the Far East...it may be worth your while.
March 10th / Australia
Following the New Zealand Official Cash Rate At 9:30 AM (UTC+9) the Australian Bureau of Statistics will announce its Employment Change & Unemployment Rate. The charts below shows the results of the previous announcement on February 10, 2011. In both the AUD/USD & AUD/JPY there was only volatility within the 30 minutes after the unchanged unemployment rate and positive employment change results were released.
AUD/USD 30 min. chart; 61-point volatility (mostly upward)
AUD/JPY 30 min. chart; 47-point volatility (mostly upward)
A positive result on both of these announcements may increase the AUD/USD back up to one of its higher resistance areas which would be ideal for a selling position.
Here's a look at this afternoon's current currency pair rates below:
GBP/JPY: Lowest 133.44 Highest 134.01 Current 133.91-96
EUR/JPY: Lowest 114.81 Highest 115.21 Current 115.07-12
USD/JPY: Lowest 82.60 Highest 82.96 Current 82.82-85
GBP/USD: Lowest 1.6140 Highest 1.6176 Current 1.6167-70
EUR/USD: Lowest 1.3872 Highest 1.3913 Current 1.3893-96
USD/CHF: Lowest 0.9345 Highest 0.9372 Current 0.9355-58
AUD/USD: Lowest 1.0059 Highest 1.0112 Current 1.0082-85
AUD/JPY: Lowest 83.35 Highest 83.65 Current 83.49-54