EUR/usd
Yesterday ended in nothing for the markets and especially for the euro. eurusd remained close to 1.2850, where it was at the beginning of Tuesday. Partly it was due to a very scanty news background. Neither Cyprus nor other troubled periphery countries didn't bring any bad news, but still the euro zone has nothing to be happy about. Similar balance is also observed in the USA. But as has already been mentioned, there it is at a much higher level. The only interesting news yesterday was the US Durable Goods Orders. Thanks to the transport sector the volume of durable goods orders grew sharply, by 5.7%. Yet with the transport equipment excluded the volume shrank by 0.5% against the expected growth by 0.7%. The US Consumer Confidence Index by Conference Board unexpectedly declined. It dropped from 68 (revised down from 69.6) to 59.7, though it had been expected that it would go down just to 67.9. After the record January levels the new home sales rate is now in downward correction. According to yesterday's statistics the sales grew by 411K annually. However, against February 2012 they increased by 12.3%, which is not a bad result, so this is why the markets didn't show any reaction to that news. The US stock exchanges closed positive, albeit below the intraday highs of Monday. The main benchmark – S&P 500 – is just two points away from the record. The main battle is still ahead, probably, it will be given next week.
GBP/USD
The sterling suffered some losses during the quiet trading of Tuesday. Against the US dollar it hit the intraday low of 1.5130 and now is fluctuating around 1.5150. As we see, the stillness proves to be unfavourable for the sterling as the asset flow from the euro zone doesn't support the British currency rate for any longer. For three days in a row EURGBP has been at 0.8470. Probably, the release of the final GDP statistics will somehow stir these still waters.
EUR/CHF
The failures which the single currency suffered last week and in the first half of this week have again brought EURCHF to the support level of 1.2170. We saw that in February and earlier this month the pair was purchased on the approach to these levels. In the first half of February the support was higher, at 1.2250/70, but the Italian elections broke it down. Anyway, the current level of support at 1.2170 looks rather attractive for buying on the dips.
NZD/USD
The currencies down under have completely distanced themselves from the failures of Europe. Moreover, as the largest portion of the troubles there has been caused by the debt crisis, it doesn't do much harm to the economic recovery in Australia and New Zealand yet. The Kiwi was growing for nine out of the last 10 sessions and impressively bounced off its 200-day MA. And now it is probably getting ready to attack the resistance at 0.8470.
