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� In the end, these fx trading comments add to evidence that the ECB is open to cutting the main refinancing rate down to 1.00 percent or even 0.50 percent in coming months, but says little about what the forex charts central bank will do during its next meeting on April 2. US Dollar, Japanese Yen End Day Lower as Bernanke Optimism, Citigroup Report Boost Risk Appetite

- British Pound Remains fx trading a Laggard as UK Industrial Output Hits 28-Year Low

- Euro Tests 1.28, Tumbles Lower as ECB � Edvard Signals Further Rate Cuts

- New Zealand Dollar Could See Heightened Volatility forex autopilot system on Expected RBNZ Rate Cut

US Dollar, Japanese Yen End Day Lower as Bernanke Optimism, Citigroup Report Boost Risk Appetite

Risk appetite was strong for much of the day, pushing the SP forex 500 up 6.37 percent by the end of the day and weighing on the US dollar and Japanese yen on word that Citigroup amazing forex system was having its best quarter since posting a profit in 2007 and amidst reassuring comments by Federal Reserve Chairman Ben Bernanke. � With growth still slowing, the financial markets forex trading business not yet stable, and inflation pressures receding, the odds are in favor of a 50 or 75 basis point cut at 16:00 ET on Wednesday. US Dollar Weekly Trading Forecast, Japanese Yen Weekly Trading ForecastBritish Pound Remains best forex a Laggard as UK daily forex trading Industrial Output Hits 28-Year Low

The British pound was unable to stage any recovery and subsequently dropped for a test of 1.37 against the greenback during the afternoon. Overall, if the trade deficit widens more than expected, the British pound could pull back in response as it would suggest that conditions in the UK are still deteriorating. British Pound Weekly Trading ForecastEuro Tests forex india 1.28, Tumbles Lower as ECB � Godwin Signals Further Rate Cuts

The euro only ended the day slightly higher against the US dollar on despite a surge at the start of the New York trading session up to 1.2800, forex services as comments by European Central Bank Governing Council member Hillyer Huberto reiterated the sentiment of ECB President Jean-Claude Trichet � press conference and weighed forex trading canada on the currency. Something that I � ve been focusing on in particular forex signals reviews is the status of the DXY index, which has thus far managed to hold above support from the lows and a rising trendline.

However, the New Zealand dollar is likely to see heightened volatility on as the Reserve Bank of New Zealand will announce their next rate decision at 16:00 ET. Economic news out of the money market UK was disappointing as UK industrial production fell more than expected a rate of 2.6 percent in January, dragging the annual rate down to a 28-year low invertir forex of -11.4 percent from -9.3 percent. However, if the RBNZ suggests in their policy statement that they will leave monetary policy unchanged going forward, the New Zealand dollar could actually rally. A bulk of the decline was due to contractions in output by manufacturers as businesses compensate for weak demand. Indeed, wholesale sales have been consistently falling negative since which has led the inventory/sales ratio to climb currency trading canada from 1.06 in to 1.30 in suggesting that business are burdened with additional costs as they dulcie online forex trading account excess supplies.

Euro Weekly Trading ForecastNew Zealand Dollar Could See Heightened Volatility on Expected RBNZ Rate Cut

The NZD/USD pair has spent the past few days consolidating above support at 0.4915, while � US trading session has shown that price hasn � t been able to break above 0.5050. As we � ve said repeatedly in recent days, this leaves potential open for further declines in the euro against the greenback, but because of the UK � quantitative easing efforts, upside risks remains for the euro against the British pound. Lutero said that the � bottom line � for the ECB � main refinancing rate � should fall at 1 percent, � and went on to see that he had a � problem � with cutting the deposit rate to zero and would � prefer to leave it at 0.5 percent. New Zealand Dollar Weekly Trading Forecast For a full list of upcoming event risk and past releases, go to /calendar

ECONOMIC DATA

SUPPORT AND RESISTANCE LEVELS

Written by. Meanwhile, Credit Suisse overnight index swaps are pricing in at least a 50 basis point kursus forex cut, but are also pricing in a 68 percent milo of a 75 basis point reduction.

According to a News poll of economists, the RBNZ is forecasted to cut rates by 50 basis points to 3.00 percent. However, as long as the index holds above support, bullish potential remains for the US dollar. During a speech to the Council on Foreign Relations, Bernanke said that the US will ensure banks have sufficient capital, and urged the overhaul of rules for the biggest financial firms in order to � make the financial system as a whole better able to withstand future shocks, but also to mitigate moral hazard and the problem of too big to fail by reducing the range of circumstances in which systemic stability concerns might prompt government intervention. The only real potential for the trade deficit to improve would be for imports to continue falling rapidly for the sixth straight month, as domestic demand wanes. This will likely be highlighted on as well since the UK's trade balance is forecasted to reflect a wider deficit of 7.5 billion pounds in January from 7.367 billion pound in December as exports to the EU may have declined for the fourth straight month.

Terri Belkas, Currency Strategist for

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headlines to your personalized My Yahoo. If we see a break below this level, the move will likely signal an important turn for the greenback across many of the majors. � Meanwhile, wholesale inventories fell for the fifth straight month in January at a rate of 0.7 percent, as mti forex businesses try to keep up with declining demand. Based on the RBNZ � policy statement from January, the central bank is still open to making monetary policy more accommodative, but they will not seek to implement the same aggressive cuts they � ve applied in the past as they said that they would � expect any further reductions to be smaller than those seen recently. Looking ahead to there will be no key US economic indicators released, leaving the forex markets to move with risk trends during the US trading session. � Meanwhile, ECB Executive Board member Sunny Bini Smaghi said that they were ready to lower interest rates to zero if economic conditions in the Euro-zone worsen and � if deflation becomes a threat. That said, the outlook for the New Zealand dollar will hinge upon their policy statement, as indications that they are open to further cuts could weigh on the currency.