NEWS / Foreign Exchange

European Forex Recap

F/X Solutions

European Forex Recap

Date:  Wednesday, March 28, 2007 12.00am until 7.00am EST

Market Recap:

In earlier news

            Dow Jones Industrial Average closed down 71.78 points on Tuesday at 17,254-73

• Opening levels:-GBP/USD 1.9659/64  EUR/USD 1.3351/54  USD/JPY 117.40/43  USD/CHF 1.2112/17  USD/CAD 1.1559/64  AUD/USD 0.8074/78  NZD/USD 0.7155/59 (11.10pm EST)
• Seeing dollar-yen and Euro-yen lower in early European trading with dollar-yen currently trading at 117.10/13 (1.15am EST)
• Japan??™s Nikkei 225 index closed down by 110.32 points at 17,254-73 on Wednesday (2.00am EST)
• UK Nationwide house price index for March +0.4% m/m 9.3% y/y showing UK house price inflation easing (2.00am EST)
• German GfK consumer sentiment indicator for April at 4.4 from 4.3 in March (2.00am EST)
• UK Q4 GDP was revised down to +0.7% q/q +3.0% y/y which was slightly lower than market expectations. Also released was the Q4 current account deficit which widened from -??10.485 billion in Q3 to -??12.661 billion. Cable on the data releases falls from 1.9634 to 1.9600 and on the drop brings Euro-dollar lower from 1.3334 to 1.3324 (4.30am EST)
• Closing levels:-GBP/USD 1.9643/48  EUR/USD 1.3339/42  USD/JPY 117.25/28  USD/CHF 1.2122/26  USD/CAD 1.1596/01  AUD/USD 0.8065/69  NZD/USD 0.7125/29 (7.00am EST)

Economic data due out later today

8.30am   US Durable goods orders for February

Session Ranges

GBP / USD:                 1-9600             1-9668

EUR / USD:                 1-3326             1-3356

USD / JPY:                  117-10             117-47

USD / CHF:                 1-2101             1-2144

USD / CAD                 1.1556             1.1610

AUD / USD                 0-8039             0-8078

NZD / USD                 0-7110             0-7158