Daily market guide   -  Essential reading for currency professionals.

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Each day, the Daily market guide looks at the expected data releases and market expectations of those releases for the next 24 hours.

The Daily market guide also leads you through the markets in a concise format, offering important insights as to what the major market players will be looking at. What are the risk factors? Where will the principal interest be? Where are the important technical levels? The report is essential reading for everyone involved in currencies and bonds. The outlook is E-mailed to you by 01.00 UK time for the day ahead to keep you fully informed of the following day's market key events.

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Sample Daily Market Guide 10/03/06

Key events for the next 24 hours:

Japan machinery orders due at 05.00 GMT, expected -5.0%.

Canada unemployment due at 12.00 GMT, expected 6.6%.

US non-farm payrolls due at 13.30 GMT, expected +210,000.

US unemployment due at 13.30 GMT, expected 4.7%.

Key factors to watch

The US payroll report will be important for market sentiment and the dollar. The earnings data will also be watched closely for the impact on interest rates.

Yield spreads between US and German bonds will still be important for the dollar. The dollar will be vulnerable if the yield spread narrows to below 105 basis points after the US data.

Markets will be on alert for institutional Euro buying below the 1.19 level against the dollar.

Any Bank of Japan remarks on interest rates will be watched closely over the next 24 hours.

Emerging market and high-yield positioning will be watched closely on Friday following recent selling pressure.

Global liquidity indicators will also be an increasingly important focus, especially for high-yield currencies.

Wider market positioning will be important during Friday and the speculative positioning data will be watched closely over the weekend.

The tensions between Iran and the US will be watched closely and any escalation should offer some Swiss franc support.

Technical factors 

The Euro has immediate support against the dollar at 1.1905 with further support at 1.1880, 1.1840 and 1.1800. There is immediate resistance at 1.1930 with further resistance at 1.1975 and 1.2025 and 1.2050.

The dollar faces short-term resistance at 118.20 against the yen with further resistance at 118.50 and 118.85. There is immediate dollar support at 118.00 with further support at 117.75, 117.25, 116.85 and 116.25.

Sterling has immediate support at 1.7350 against the dollar with further support at 1.7320, 1.7285 and 1.7250. There is initial resistance at 1.7380 with further resistance at 1.7480 and 1.7550.  

Disclaimer: Investica's market analysis is not investment advice and must not be taken as recommending particular market positions.

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