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Volatility remained relatively low
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Due to the lack of market moving data from the U.S yesterday, volatility remained relatively low on most of the currency pairs. Even though inflation data was published in England (PPI results), it didn’t cause any major movement on its release. Towards the afternoon, Housing Starts from Canada took center stage as the result showed an amazing 256.9k, much higher than expected. The U.S indices characterized a volatile session closing the session with losses,. The intraday down-trend was led by financial shares, as investors speculated that earning estimates will prove to be too high, especially due to the credit crises. Even though Gold closed the session down, crude oil continued to climb higher closing the session at $107.4 per barrel. Looking forward, International trade balances from the U.S and Canada will be scrutinized today, especially as current currency prices are having mass affects on imports and exports worldwide.
 Support: 1.5330, 1.5250, 1.5150
Japanese Yen
 Support: 101.40, 101.00, 101.20
 Support: 2.0100, 2.0050, 2.0000 Next Analysis:
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