Optimism on stock markets, the dollar is rising.

[RTFX-Trading]

What's new:
United States: better than expected results from Wells Fargo..
United States: decline in weekly jobless.
United States: trade deficit to lowest level since 1999.
Japan: Nikkei at its highest since 3 months.
Zone euro: Trichet can lower refi interest rate

Today:
08:45 France: industrial production February, expected -1.10% -3.10% last.
08:45 France: Inflation February, expected 0.30% 0.40% last.
20:00 United States: Federal budget, expected -147.5 billion last -48.21 billion.

Rates in Asia and Indices:

EURUSD:  1.3169 – 1.3089.
USDCHF:  1.1624 – 1.1560.
GBPUSD:  1.4683 – 1.4616.
EURCHF:  1.5231 – 1.5206.
USDJPY:  100.72 – 100.22.
DowJones:  8’084 +3.14% .
NASDAQ:  1'652 +3.89%.
S&P 500: 856 +3.81%.
Nikkei:  8'964 +0.54%
Or:  $881

Comments:

The dollar benefits from the stock market optimism, the DowJones index gained 247 points yesterday to 8'084, the S&P took 32 point, or 3.81% to 856.74, while the Nasdaq advanced 3.89% to 1 '652 .54. The stock market welcomed the better than expected results from Wells Fargo, the decline in weekly jobless claims and the U.S. trade deficit to lowest level since 1999. The statement of former Secretary of the Treasury, Summers, who said to expect that the U.S. economy in "free fall" should subside in a few months. The measures taken by the federal government should boost and support the economy.

In England, the BoE left its rate unchanged at 0.5%, it announced that it would continue its Quantitative Easing program of £75 billion

The euro was is under pressure, Jean-Claude Trichet, the president of the European Central Bank, confirmed market expectations by saying that the ECB could still carry out further reductions of its refi rate. In an interview in the newspaper "Le Monde", he also said that 2009 would be a bad year for the euro area economy, but he saw a recovery in 2010 if officials implement extraordinary measures (QE).

Yesterday could herald a change in the trend of the greenback. In talking with traders in the market, the greenback has the favor of investors. As we have noticed in the past, changes in trend occurred after the Easter weekend. A new rising dollar trend could take place

Good Easter weekend.

Nicolas Longchamp
RTFX Ltd
Head Office
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Tel:  +356 27 78 01 35
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