The latest FOMC meeting has concluded and the committee has opted to leave the fed funds rate unchanged at 0.00% to 0.25%, as expected. However, participants are digesting the details of the FOMC's policy directive, which indicated that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period of time, but that the pace of economic contraction is slowing. The FOMC also stated that its Treasury purchase program size remains unchanged. Stocks are gyrating in the wake of the announcement. No new direction is clear. Meanwhile, Treasuries have pulled back. The benchmark 10-year Note had been up roughly 10 ticks ahead of the announcement, but it is now down 7 ticks, which has pushed its yield from below 3.60% to roughly 3.65%.

- 'Substantial' Slack To Keep Inflation Subdued
- Doesn't Say Inflation May Persist Below Desired Level
- Econ Activity Likely To Remain Weak For A Time
- Voted 10-0 For Fed Funds Rate Action
- Keeps MBS, Tsy Purchase Program Sizes Unchanged
- Will Continue To Evaluate Timing, Amounts Of Purchases
- To Keep Rates Exceptionally Low For Extended Period
- Pace Of Econ Contraction Slowing; Gradual Growth Ahead
- Financial Mkt Conditions Improved In Recent Months
- Consumer Spending Showing More Signs Of Stabilizing

Ashland Inc
The diversified chemical company agreed to sell its global-marine-services business to J.F. Lehman & Co. in a deal valued at $120M before tax. The business had generated $140M a year of revenue; the company will use the after-tax funds to reduce debt.

Exelon Corp
The largest U.S. operator of nuclear power plants defeated a legal bid from NRG Energy Inc. that attempted to temporarily block a takeover.

Ford Motor Co
The automaker is expected to have its request for billions in federal loans to develop new, fuel-saving vehicles and technologies approved by the Department of Energy on Tuesday, the Detroit News reported.

News Corp
The MySpace division plans to restructure its international operations, cutting 300 of its 450 overseas employees and closing at least four offices outside the U.S.

Rambus Inc
The memory-chip designer reduced its sales forecast, saying it now expects to report second-quarter revenue of $27.2M at most. It plans to offer $150M of convertible senior notes.

USD/CHF jumped more than a hundred pips from 1.0835 to 1.1000 reaching the highest price since May 20.

Stocks continue to slowly trend downward. Still, gains remain impressive. Tech stocks (+2.0%) and industrials stocks (+1.9%) are sporting the best gains in the S&P 500. Materials stocks had been leading the pack, but the sector has pared a gain of 3.0% to now trade with a 1.6% gain. Shares of Monsanto have been a drag on the materials sector. Monsanto posted this morning better-than-expected quarterly earnings results and reaffirmed an in-line outlook for fiscal 2009.

The Swiss franc fell against all of its most-traded counterparts on speculation the Swiss National Bank sold the currency to support the economy less than a week after Chairman Jean-Pierre Roth said policy makers will act to restrict any “irrational appreciation.”
“Official names and the SNB came into the market heavily,” said Sebastien Galy, a currency strategist at BNP Paribas Securities SA in New York. “They intervened on a trade- weighted basis, buying dollar-Swiss and euro-Swiss.” The franc depreciated as much as 1.6 percent to 1.5287 versus the euro before trading at 1.5221 at 10:39 a.m. in New York, compared with 1.5017 yesterday. The Swiss currency slid as much as 2.1 percent to 1.0908 against the dollar, from 1.0667. An SNB spokesman, Nicolas Haymoz, declined to comment on whether the bank took action in foreign-exchange markets today. A spokeswoman for the Basel, Switzerland-based Bank for International Settlements, Lisa Weekes, also had no comment.
The euro declined 2.1 percent to 11.2952 rand and 1.6 percent to 1.7450 Australian dollars after the European Central Bank said it will lend banks 442 billion euros ($621 billion) for 12 months, the most it ever allotted in an auction, to unblock credit markets in the 16-nation euro region. The bids are filled at the ECB’s main refinancing rate of 1 percent. The euro interbank offered rate, or Euribor, for 12- month loans fell to 1.57 percent today, a record low.
“The ECB’s one-year tender pushed down short-term European interest rates,” said Marc Chandler, global head of currency strategy at Brown Brothers Harriman & Co. in New York. “That is effectively a monetary easing. Some of the money’s going to leak out, and that means people are going to sell the euro and buy dollars or buy Swedish kronor or buy something else.” The U.S. central bank will probably keep its target rate for overnight lending between banks close to zero and maintain up to $300 billion in Treasury purchases, analysts said.
“The Fed will tell the market not to get its hopes up for unwinding of the stimulus,” said Geoffrey Yu, a currency strategist in London at UBS AG. “It could be mildly positive for risk.”
Interest-rate futures indicated a 42 percent chance the U.S. central bank will increase its target rate to at least 0.5 percent by December, down from 45 percent odds a week ago.

Stocks are easing off of their session highs. Still, gains remain widespread as advancing issues outnumber decliners by 10-to-1. In the Dow, 27 of the 30 components are in positive ground; Boeing , American Express , and JP Morgan Chase are the only blue-chips in the red. During an interview with CNBC, billionaire investment guru Warren Buffet stated that he is not at all worried about deflation. He also stated that we've not yet had a bounce in the economy.

Euro attempt to bounce from 1.4000 support level on its decline from 1.4135 intra-day high has been short lived and the pair's weakness has prevailed, ahead of the Fed meeting wrap up, driving the Euro back to test 1.4000 support.

"New home sales was a weaker than expected report, with sales down 0.6% in May to a
342,000 annual rate and downward revisions totaling 32,000 over the prior three months. Overall, though, sales have been very steady so far this year, albeit at close to record lows. This trend is unlikely to be sustained in coming months given the surge in mortgage rates."

European equity bourses are set to close up Wednesday, following the US markets higher after strong durable goods data. Mining stocks have continued to outperform on rising metals
prices, with Anglo American (AAL) and Rio Tinto (RIO) still leading gains. Banks have also managed to hold on to gains during the afternoon, with Deutsche Bank (DBK), BNP Paribas (BNP) and Barclays (BARC) boosting the blue-chip indices. The FTSE-100 is currently up 58pts (+1.4%), CAC-40 up 77pts (+2.5%), and Xetra-DAX up 126pts (+2.7%).

The major indices continue to march higher. The Nasdaq Composite is leading the way, thanks largely to Oracle (+1.44), which posted better-than-expected top and bottom line results for its latest quarter, and even issued an upbeat forecast.
Other large-cap tech stocks like Cisco (+0.38), Intel (+0.45), and Apple (AAPL 136.94, +2.93) are also showing strength.

Easing lower but taking its cue from modest slippage in cable as detailed in prior items. Euro remains off earlier retracement low of $1.4005 seen as dollar surged on Chf developments. Euro expected
to find bids at $1.4000 area and again at $1.3980/85 but traders fret stop risk sub $1.4000 without confirming firm interest to sell the break.

New Home Sales (MoM) (May) -0,6%
New Home Sales (May) 342К

EUR/USD: $1.4150, $1.4190, $1.4000, $1.4200
USD/JPY: Y95.00, Y96.00, Y97.00
EUR/JPY: Y134.90, Y135.00, Y134.00
EUR/CHF: Chf1.5000/1.5250 dnt
AUS/USD: $0.8000, $0.8050

Stock futures have improved following the latest batch of economic data (S&P futures +7.80, Nasdaq +10.00).
Durable goods orders for May increased 1.8%, which is far better than the 0.9% decline that was expected. Excluding transportation, durable goods orders increased 1.1%. Economists, on average, had expected a drop of 0.5%. Meanwhile, data for April was revised downward to show a 1.8% increase in total orders and a 0.4% increase in orders less transportation.
There is a mildly positive tone to premarket trading. Oracle is providing support to Nasdaq futures after posting last evening adjusted earnings of $0.46 per share for its fourth fiscal quarter. The consensus estimate called for $0.44 per share. Oracle's top line came in at $6.86 billion, down 5% year-over-year, but above the consensus revenue forecast of $6.47 billion. During its conference call, Oracle stated that it expects earnings for its first fiscal quarter to range from $0.31 to $0.33 per share, which exceeds the current estimate of $0.30 per share. Shares of ORCL are up more than 3.5% to $20.58 per share ahead of the opening bell. Stock futures for the broader S&P 500 are also up ahead of the opening bell. Some reports suggest that the positive tone seen in premarket trading stems from an article in The Wall Street Journal that cites the OECD's claim that the global recession is close to bottoming out. The claim contrasts the World Bank's decision earlier this week to trim its forecast for the global economy. Participants will get the latest batch of economic data at the bottom of the hour, which is when durable goods orders data for May will be released. New home sales for May follow (14:00 GMT). The FOMC will release its latest policy statement this afternoon (18:15 GMT).

European equity bourses bounce after strong US durable goods data, with the FTSE +10.31 (+0.24%) at 4,240.33, CAC +26.97 (+0.87%) at 3,143.79, Dax +40.49 (+0.86%) at 4,747.64.

Durable Goods Orders (May) 1.8%
Durable Goods Orders ex Transportation (May) 1.1%

The dollar fell for a second day versus the euro as traders added to bets the Federal Open Market Committee will keep the benchmark rate unchanged at 0.25 percent through December.
“People are looking for guidance on what the Fed thinks about green shoots,” said Danica Hampton, a currency strategist at Bank of New Zealand Ltd. in Wellington. “Probably right after the Fed’s statement, the U.S. dollar will stay weak. But I’m not convinced it will weaken indefinitely.”
The Fed will probably keep its interest-rate target for overnight loans between banks close to zero and maintain its $300 billion program of Treasury purchases.
Interest-rate futures indicated a 40 percent chance the U.S. central bank will increase its target rate to at least 0.5 percent by December, down from 50 percent odds a week ago.
Losses in the dollar were tempered after Moody’s Investors Service said the greenback’s unchallenged status as the world’s reserve currency is supporting U.S.’s top credit rating.
Ahead of US session market talk of SNB/BIS buying USD/CHF caused US dollar gains.

EUR/USD traded within $1.4055/$1.4100. before reached session high around $1.4134/ Later pere eased back to session low before fell sharply to $1.4005.

At 12:30 GMT focus will turn to US Durable goods orders for May with analysts predict orders fell 0.9% after 1.9% in April.
FOMC’s meeting announcement comes at 18:15 GMT.

EUR/USD
Bids: $1.4070/60, $1.4040, $1.4020, $1.3985/80
Offers: $1.4150, $1.4200, $1.4210/15

USD/JPY
Bids: Y95.00/Y94.90, Y94.40
Offers: Y95.90/95, Y96.10

Banks have gathered strength during the morning, with Deutsche Bank (DBK), BNP Paribas (BNP) and Barclays (BARC) leading the sector. Mining stocks are holding firm as metals prices continue to climb, particularly in London, where Anglo American (AAL) and Rio Tinto (RIO) are offering most support. On the other side, defensive stocks are seeing some light profit taking coming through after gains made recently, with GlaxoSmithKline (GSK), Tesco (TSCO) and Deutsche Telekom (DTE) underperforming. Trading is relatively cautious however ahead of the FOMC meeting later today, with traders looking to US futures trading for further sentiment.
The FTSE-100 is up 9pts (+0.2%), CAC-40 up 24pts (+0.8%), and Xetra-DAX up 39pts (+0.8%).

The rate bounced off pullback lows of $1.4055. Rate had earlier been able to extend recovery highs to $1.4137, seemingly targeting a suggested barrier at $1.4150. If the level does hold a barrier it is said to roll off today, along with a plain vanilla option strike. Expect level to draw protective sell interest ahead, a break to open a move on toward $1.4178 (June 11 high) ahead of $1.4200. Support remains at $1.4055/50, with further interest extending toward $1.4040. Break below here to allow for a deeper move toward $1.4010/00.

The dollar fell for a second day versus the euro as traders added to bets the Federal Open Market Committee will keep the benchmark rate unchanged at 0.25 percent through December.
“People are looking for guidance on what the Fed thinks about green shoots,” said Danica Hampton, a currency strategist at Bank of New Zealand Ltd. in Wellington. “Probably right after the Fed’s statement, the U.S. dollar will stay weak. But I’m not convinced it will weaken indefinitely.”
The Fed will probably keep its interest-rate target for overnight loans between banks close to zero and maintain its $300 billion program of Treasury purchasest.
Interest-rate futures indicated a 40 percent chance the U.S. central bank will increase its target rate to at least 0.5 percent by December, down from 50 percent odds a week ago.
Losses in the dollar were tempered after Moody’s Investors Service said the greenback’s unchallenged status as the world’s reserve currency is supporting U.S.’s top credit rating.

The FTSE-100 is trading near flat Wednesday, having eased from the high of 4251.71 to come in near yesterday's close. Mining stocks are stronger across the board this morning, helped by gains being made in the metals markets, with Rio Tinto (RIO) and Anglo American (AAL) offering most support to the blue-chip index. Defensive stocks on the other hand are weaker, with GlaxoSmithKline (GSK), Tesco (TSCO) and British American Tobacco (BATS) leading losses. In the options market, a 150 lot straddle was reported on the Liffe exchange, for Vodafone (VOD) Jul09 120, and a 69 lot bull calender spread was reported for Rio Tinto at Jul09-2561/Sep09-2313.
Elsewhere in Europe, the CAC-40 is up 7pts (+0.2%), and the Xetra-DAX is up 18pts (+0.4%).

EUR/USD $1.4150, $1.4190, $1.4000, $1.4200
USD/JPY Y95.00, Y96.00, Y97.00
EUR/JPY Y134.90, Y135.00, Y134.00
EUR/CHF Chf1.5000/1.5250
AUD/USD $0.8000, $0.8050
USD/CAD C$1.1470

--US GDP -2.8% in 2009, +0.9% in 2010
--Eurozone GDP -4.8% in 2009, flat in 2010
--Japan GDP -6.8% in 2009, +0.7% in 2010
--US inflation +0.2% in 2009, +0.8% in 2010
--EMU inflation +0.5% in 2009, +0.7% in 2010
--Japan inflation -1.4% in 2009 and 2010
--Short-term rates in US and EMU falling to 0.4% in 2H 2010, Japan 0.2%
--ECB should "exhaust" room on main rate sooner not later
--Fed should maintain, even increase quantitative easing
--BOJ rates on hold thru 2010;
urges qe commitment vs deflation

Resistance 3: Y97.20
Resistance 2: Y96.30
Resistance 1: Y95.80
Current price: Y95.26
Support 1: Y94.80
Support 2: Y93.80
Support 3: Y92.50
COMMENTS: The nearest resistance is on yesterday’s highs at Y95.80. Above the upside target is around Y96.30 (Monday’s high). Further rise may extend to Y97.20 (Jun 19 high). Minor support comes at Y94.80 (Tuesday’s lows). Below - on Y93.80 (May 21-22 lows). A strong level comes near Y92.50 (61,8% FIBO of Y87.00-Y101.40 growth).

Resistance 3:Chf1.0880
Resistance 2:Chf1.0780
Resistance 1:Chf1.0700
Current price: Chf 1.0671
Support 1:Chf1.0640
Support 2:Chf1.0600
Support 3:Chf1.0540
СOMMENTS: Dollar remains under pressure with support comes at session and yesterday’s lows on Chf1.0640. Stronger one – at Chf1.0600 (Jun 02 lows). Break under opens the way to Dec 31 lows on Chf1.0540. Resistance is around Chf1.0700 (23.6% of yesterday’s decline). Stronger level is near Chf1.0780 (61.8%), then – at Chf1.0880 (Tuesday’s high).

Resistance 3:$1.6800
Resistance 2:$1.6660
Resistance 1:$1.6550
Current price: $1.6550
Support 1: $1.6410
Support 2: $1.6360
Support 3: $1.6210
COMMENTS: Sterling looks optimistic. Resistance comes at Friday’s highs on $1.6550. Stronger level is on $1.6660 (Jun 03 highs and Oct 30’2008 highs). Strong resistance is near $1.6800 (50% Fibo of $2.0144 - $1.3470 decline). Minor support comes at session lows on $1.6410. Further correction may extend to $1.6360. Strong support is around $1.6210 (Tuesday’s low).

Resistance 3:$1.4260
Resistance 2:$1.4180
Resistance 1:$1.4140
Current price: $1.4115
Support 1: $1.4040
Support 2: $1.3970
Support 3: $1.3830
COMMENTS: euro remains optimistic, holding a bit below session highs on $1.4140 (minor resistance). Above resistance is at Jun 11 highs on $1.4180. Stronger level is around $1.4260 (Jun 05 high). Support is near 23.6% Fibo of yesterday’s rally at $1.4040. Stronger support comes at $1.3970 (50%). Break under will point to yesterday’s lows on $1.3830.

The yen weakened for a second day against the euro after a Japanese report showed the decline in exports accelerated, boosting speculation the nation’s investors will funnel their summer bonuses overseas. Finance Ministry said exports slumped 40.9% in May from a year earlier, after falling 39.1% in April. Imports slid 42.4% from a year ago, more than the 41.1% decrease in April.
The dollar dropped to its lowest level in more than a week against the euro on prospects the Federal Reserve will today signal it intends to refrain from raising interest rates this year to revive economic growth.
The Fed will probably keep its interest-rate target for overnight loans between banks close to zero.
Interest-rate futures indicated a 40% chance the U.S. central bank will increase its target rate to at least 0.5% by December, down from 50% odds a week ago.
Losses in the dollar were tempered after Moody’s Investors Service said the greenback’s unchallenged status as the world’s reserve currency is supporting U.S.’s Aaa credit rating.

EUR/USD held within the $1.4055/$1.4100 range the most of EU session. Later rate rose up to the $1.4134 highs before retreated to $1.4104.

EUR/USD: $1.4150, $1.4190, $1.4000, $1.4200
USD/JPY: Y95.00, Y96.00, Y97.00
EUR/JPY: Y134.90, Y135.00, Y134.00
EUR/CHF: Chf1.5000/1.5250 dnt
AUS/USD: $0.8000, $0.8050

Japan's benchmark stock indices ended Wednesday's session higher, boosted by an afternoon rally on dip-buying. The Nikkei 225 was higher by 40.71 points, or 0.43%, to stand at 9590.32. The broader-based TOPIX was just 0.77 points higher at 902.46.

Majors close
Nikkei -276.66 -2.8% 9,549.61
Topix -20.79 -2.3% 901.69
FTSE -4.03 -0.10% 4,230.02
DAX +13.75 +0.29% 4,707.15
CAC -6.43 -0.21% 3,116.82
Dow -16.10 -0.19% 8,322.91
NASDAQ -1.27 -0.07% 1,764.92
S&P +2.06 +0.23% 895.10
10yr Note -0.5300 -0.144% 3.640%
NYMEX Crude Oil +1.74 +2.58% 69.24
Gold +3.30 +0.36% 924.30

Japanese stocks dropped to the lowest this month after the World Bank’s forecast of a deeper global recession sparked a slump in commodities.
Mitsubishi Corp., a trading company that gets almost half its sales from resources, slid 5.3%.
Nomura Holdings Inc., Japan’s top brokerage, tumbled 5.4% following a plunge in U.S. financial shares.
Canon Inc., which gets a third of its sales from the Americas, sank 2.8% as the yen rose to a three-week high against the dollar.
Nippon Paper Group Inc. added 3.4% after Mitsubishi UFJ Financial Group Inc. said falling oil prices will help cut costs for papermakers.

European stocks retreated, extending the Dow Jones Stoxx 600 Index’s biggest one-day slump in two months, as European Central Bank council member Axel Weber said the bank has used up its room to cut interest rates.
KBC Group NV led banks lower as Weber also said the economy may face difficulty through 2011, while Swiss Life Holding AG dropped after UBS AG recommended selling the shares.
The Stoxx 600 had climbed earlier as retailers and utilities gained.

Stocks struggled on Wall Street Tuesday, with the Dow touching a fresh three-week low, as investors eyed a weaker-than-expected housing market report and geared up for the latest from the Federal Reserve.

Housing: Existing home sales rose 2.4% to a 4.77 million unit annualized rate in May from a 4.66 million unit annualized rate in April. That was short of forecasts for a rise to 4.82 million units, according to economists. The median home price fell 16.8% year over year.
The Federal Reserve began its two-day policy meeting Tuesday with an announcement expected Wednesday afternoon. The central bank is expected to hold interest rates steady at historic lows near zero. However, what the bankers say about the economy, the bond market and the outlook for inflation will be critical.
Company news: Boeing said it has again delayed the initial test flight of its new 787 jet because it needs to reinforce part of the aircraft. The flight had initially been planned for late 2007, but got postponed because of production problems and a labor strike. Boeing shares fell 6.5% and dragged on the Dow.
United Technologies and Hewlett-Packard were the Dow's other big drags.

Data released
05:00 Japan Leading indicators composite index (April) final 76.2 - 76.5
05:00 Japan Coincident indicators composite index (April) final 86.0 - 85.8
06:45 France Consumer spending (May) -0.2% -0.3% 0.5 (0.7)%
06:45 France Consumer spending (May) Y/Y -1.6% -0.6% 0.6%
06:50 France Business confidence (June) 75 74 73 (72)
07:00 France PMI (June) flash 45.5 45.0 43.3
07:00 France PMI services (June) flash 47.5 48.5 48.3
07:30 Germany PMI (June) flash 40.5 40.9 39.6
07:30 Germany PMI services (June) flash 44.3 46.0 45.2
08:00 EU(16) PMI (June) flash 42.4 42.0 40.7
08:00 EU(16) PMI services (June) flash 44.5 45.6 44.8
12:55 USA Redbook (20.06)
14:00 USA Existing home sales (May), mln 4.77 4.80 4.66 (4.68)
23:50 Japan Trade balance (May) unadjusted, trln 0.300 0.220 0.069

The dollar dropped to a one-week low against the euro on speculation the Federal Reserve will temper expectations for an interest-rate increase this year in an attempt to lower borrowing costs.
The central bank will probably keep its benchmark rate close to zero and continue its $300 billion program of Treasury purchases, according to a survey of 58 economists before today’s statement.
Futures traders cut bets the Fed will raise interest rates by at least a quarter-percentage point to 0.5 percent by December, lowering the odds to 40% from 49% a week ago.
Manufacturing activity in the central Atlantic region accelerated this month and U.S. home resales climbed in May, according to data published today by the Fed and National Association of Realtors. The Richmond Federal Reserve Bank’s index of current activity climbed to six from four and existing home sales advanced 2.4 percent to an annual rate of 4.77 million, less than the 4.823 million economists had forecast.

EUR/USD printed lows on $1.3830 before it rallied to $1.4040. S&P's analyst comments dragged the euro down to $1.3980, but it was short-lived. A new wave of buying lifted the euro to $1.4100.

Resistance 3: Y97.20
Resistance 2: Y96.30
Resistance 1: Y95.80
Current price: Y95.41
Support 1: Y94.80
Support 2: Y93.80
Support 3: Y92.50
COMMENTS: The nearest resistance is on yesterday’s highs at Y95.80. Above the upside target is around Y96.30 (Monday’s high). Further rise may extend to Y97.20 (Jun 19 high). Minor support comes at Y94.80 (Tuesday’s lows). Below - on Y93.80 (May 21-22 lows). A strong level comes near Y92.50 (61,8% FIBO of Y87.00-Y101.40 growth).

Resistance 3:Chf1.0880
Resistance 2:Chf1.0780
Resistance 1:Chf1.0700
Current price: Chf 1.0671
Support 1:Chf1.0640
Support 2:Chf1.0600
Support 3:Chf1.0540
СOMMENTS: Dollar remains under pressure with support comes at session and yesterday’s lows on Chf1.0640. Stronger one – at Chf1.0600 (Jun 02 lows). Break under opens the way to Dec 31 lows on Chf1.0540. Resistance is around Chf1.0700 (23.6% of yesterday’s decline). Stronger level is near Chf1.0780 (61.8%), then – at Chf1.0880 (Tuesday’s high).

Resistance 3:$1.6800
Resistance 2:$1.6660
Resistance 1:$1.6550
Current price: $1.6460
Support 1: $1.6410
Support 2: $1.6360
Support 3: $1.6210
COMMENTS: Sterling looks optimistic. Resistance comes at Friday’s highs on $1.6550. Stronger level is on $1.6660 (Jun 03 highs and Oct 30’2008 highs). Strong resistance is near $1.6800 (50% Fibo of $2.0144 - $1.3470 decline). Minor support comes at session lows on $1.6410. Further correction may extend to $1.6360. Strong support is around $1.6210 (Tuesday’s low).

Resistance 3:$1.4260
Resistance 2:$1.4180
Resistance 1:$1.4100
Current price: $1.4075
Support 1: $1.4040
Support 2: $1.3970
Support 3: $1.3830
COMMENTS: Despite current retreat, euro remains optimistic, holding a bit below session highs on $1.4100 (minor resistance). Above resistance is at Jun 11 highs on $1.4180. Stronger level is around $1.4260 (Jun 05 high). Support is near 23.6% Fibo of yesterday’s rally at $1.4040. Stronger support comes at $1.3970 (50%). Break under will point to yesterday’s lows on $1.3830.

High Low Close
EUR/USD 1.4104 1.3827 1.4074
GBP/USD 1.6470 1.6208 1.6450
USD/JPY 95.95 94.87 95.22
USD/CHF 1.0881 1.0642 1.0665

EUR/JPY 134.37 131.44 134.04
EUR/GBP 0.8598 0.8475 0.8555
GBP/JPY 156.81 154.06 156.66
GBP/CHF 1.7762 1.7471 1.7548

Change % Change Last
Nikkei -276.66 -2.8% 9,549.61
Topix -20.79 -2.3% 901.69
FTSE -4.03 -0.10% 4,230.02
DAX +13.75 +0.29% 4,707.15
CAC -6.43 -0.21% 3,116.82
Dow -16.10 -0.19% 8,322.91
NASDAQ -1.27 -0.07% 1,764.92
S&P +2.06 +0.23% 895.10
10yr Note -0.5300 -0.144% 3.640%
NYMEX Crude Oil +1.74 +2.58% 69.24
Gold +3.30 +0.36% 924.30

07:30 Italy Consumer confidence (June) 104.7 104.9
08:00 Italy Retail sales (April) adjusted 0.1% 0.1%
08:00 Italy Retail sales (April) Y/Y unadjusted - -5.2%
08:00 EU(16) Current account (April) adjusted, bln - -6.5
08:00 EU(16) Current account (April) unadjusted, bln - -3.5
10:00 UK CBI retail sales volume balance (June) - -17%
12:30 USA Durable goods orders (May) -0.9% 1.9%
12:30 USA Durable goods orders excluding transportation (May) - 0.8%
12:30 USA Durable goods orders excluding defence (May) - 1.0%
14:00 USA New home sales (May) 360K 352K
18:15 USA FOMC meeting announcement 0.00-0.25% 0.00-0.25%