F/X Solutions

European Forex Recap

Date:  Tuesday, April 03, 2007 12.00am until 7.00am EST

Market Recap:

In earlier news

            Dow Jones Industrial Average closed on Monday higher by 27.95 at 12,382-30

Australia??™s trade deficit in February was A$838 million from A$832 million in January (revised from A$876 million)

• Opening levels:-GBP/USD 1.9781/86  EUR/USD 1.3365/68  USD/JPY 117.85/88  USD/CHF 1.2148/52  USD/CAD 1.158/63  AUD/USD 0.8152/56  NZD/USD 0.7212/16 (11.25pm EST)
• Japanese Asset Manager just sold EUR/USD 200 million plus at the 1.3365 level which the market easily soaked up (1.00am EST)
• Japans Nikkei 225 closed Tuesdays session +215.64 at 17,244-05
• Sterling and Euro yen trading higher in early European trading at 234.30 and 158.20 (3.00am EST)
• Aussie falling from 0.8155 to 0.8130 as traders square or cut their long positions ahead of tonight??™s RBA interest rate decision. Mixed feelings in the market as to whether the RBA will hike Australian interest rates (4.00am EST)
• Euro-land industrial producer prices for February were +0.3% m/m+2.9% y/y from +0.2% m/m +3.1% in January (revised from +0.1% & +2.9% y/y) (5.00am EST)
• Closing levels:-GBP/USD 1.9753/58  EUR/USD 1.3358/61  USD/JPY 118.62/65  USD/CHF 1.2174/78  USD/CAD 1.1560/65  AUD/USD 0.8133/37  NZD/USD 0.7199/03 (7.00am EST)

Economic data due out later today

10.00am US Pending Home sales for February

7.30pm   Reserve Bank of Australia??™s decision on Australian interest rates

Session Ranges

GBP / USD:                 1-9744             1-9823

EUR / USD:                 1-3351             1-3381

USD / JPY:                  117-78             118-68

USD / CHF:                 1-2147             1-2194

USD / CAD                 1.1548             1.1568

AUD / USD                 0-8120             0-8160

NZD / USD                 0-7191             0-7224