Intraday bias in EUR/USD remains on the upside with 1.4113 minor support intact. Current rise might is still expected to extend further towards trend line resistance at 1.4445 next. On the downside, below 1.4113 minor support will turn intraday outlook

The single currency has moved higher again today (breaking last week's high at 135.70) and further gain to chart resistance at 137.42 is now under way, break there would provide final confirmation that the upmove from 112.08 low has resumed

The single currency broke below 0.8723 minor support (previous week's low) last week, confirming our view for the fall from 0.9805 top to resumed, however, the last 3 candlesticks on the weekly chart suggests downward momentum has weakened considerably and

Although the single currency retreated last week after holding below the Ichimoku cloud bottom resistance and further sideways consolidation is likely to take place, as long as indicated support at 1.5008 remains intact, mild upside bias is seen for another

Aussie continued to move higher last week as we have suggested in our previous update and price closed above the Ichimoku cloud top on a weekly basis, indicating a reversal of early major decline from 0.9851 and further gain to

Stocks are climbing the proverbial wall of worry indeed, evidenced by this piece in the Financial Times this morning: "The majority of the world's leading investors do not believe the recent strong performance of stocks and other risky assets is

The Canadian economy contracted 0.3% in March, totaling a 1.4% decline over the first three months of the year, the biggest quarterly decrease since 1991. In February and March the pace of economic decline slowed, following the substantial decline observed

Personal income rose 0.5 percent in April, the best gain since last May. Real disposable income moved 1.1 percent higher as withholding table changes from the last stimulus bill helped lower tax bills. Spending fell slightly on both a nominal

The Institute for Supply Management (ISM) said today that their manufacturing index for March was 42.8, better than the 42.2 economists had expected to see. While employment and inventories continue to decline at a rapid rate and the sector continued

A second monthly reading of expansion for the Chinese purchasing manufacturers' index was taken as confirmation that Asian recovery is well underway. At the very least the 53.1 PMI reading for May after a 53.5 index in April confirms the

The Canadian economy dropped an annualized 5.4% in the first quarter, a deepening in the pace of decline compared to the 3.7% drop in the fourth quarter. On a monthly basis, GDP declined 0.3% in March, which is up from

In currencies, the strong risk appetite sparked by China and India's PMI data continued to build in the New York session, finally weakening JPY against its major pairs. EUR/JPY and GBP/JPY exhibited several hundred pip moves in the session on

Rates week; we are back in the cycle of interest rates, where the European Central Bank rate decision scheduled to be reveled later this week. Markets anticipate steady rates at 1.00% a historic low, yet the details of the 60

The dollar is on the retreat Monday as risk appetite, bolstered by solid economic data in Asia and Europe, remains the dominant factor in global financial markets. The pound was a notable winner against the U.S. dollar, pushing it to

The stimulus package in the United States began having a noticeable effect in April as personal incomes rose 0.5% from the prior month's -0.3% (revised from -0.2%). Wages and salaries were flat on the month. The big rise came in