EUR/usd
The euro-bears got the upper hand. The risk-aversion in the markets didn't pass by eurusd, which sank to 1.3015 yesterday closer to the end of the active New-York session. The explosions at the Boston Marathon also had their share here. For now three people are reported dead and about a hundred injured, actually this is the first terror attack since September 2001. Now there are certain concerns that the blasts will be followed by a continuous reaction of the USA, of course at a smaller scale than the intrusion into Iraq, but anyway it is certain to arouse stronger militaristic sentiments in the world's largest economy. Turning back to Forex, the drop below 1.3050 from the technical viewpoint may break the uptrend of the previous two weeks. Yet it's too early for the bulls to give in. Today ZEW will release its report on economic sentiment. A slight decrease of the indicator from 48.5 to 41.5 is forecasted, a considerable deviation from the expectations can move the market in either direction.
GBP/USD
This day is no less important for Britain, which will have to deal with Consumer and Producer Price Indexes. Deviations from the expected growth of CPI by 0.3% in March will also be of importance here. It is also forecasted that the annual rate will remain unchanged at 2.8%. The considerable slowdown of this parameter can boost speculations that the BOE will soon resume purchasing assets. Producer prices, as expected, will slow down their growth and the annual increase of Input PPI will make just 0.4% and that of Output PPI – 2.0%. As has already been mentioned, from the technical point of view, having grown from 1.4820 to 1.54,gbpusd has just recouped the previous drop, so the further depreciation of the pair seems to be quite possible.
USD/JPY
Taking of profits in usdjpy has finally finished. The pair has touched the support after an avalanche of triggering stop orders yesterday. During the correctional decline the pair dropped to 95.75, i.e. by over a half of the initial growth. Anyway, for the most part that decline was a result of the reaction to the terrorist attack in the USA, so soon the pair was again purchased. Now the pair is trading at 97.40 and we think that it will continue to grow further.
gold
Yesterday there were some fresh surprises from Gold. That was an obvious capitulation of investors and triggering of numerous sell orders, as in itself the movement is absolutely abnormal and doesn't have any firm grounds (except for the message that Cyprus will sell 10 tons of Gold). Thus, yesterday the rates dropped to 1321.50 against the opening level of the previous week – 1578. We can observe some purchases of Gold now, but the instinct of self-preservation still makes traders stand away from this high-speed train.
