Markets Pause as Investors look at FOMC and Factory Data - 3.4.2012

US Dollar Investors are anticipating U.S data today for factory orders and the FOMC Meeting Minutes later today. According to the latest economic data US economy may be dragging the global growth as Europe deeps into recession and China’s economy is slowing down. Economists report that America is doing well with easier credit, improving labor market and rising stocks which results to an improved consumer confidence, spending and as announced in the previous week personal consumption increased in February by the most in 7 months. The US dollar on Tuesday the 3rd of April has been in a range bound formation against the Swiss franc, trading between the 0.9047 resistance level and the 0.9007 support level. The greenback against the Yen was gaining ground and lifted from the 81.96 support level to the 82.34 level. Versus the dollar the Gold was doing sideways, reluctant to choose a direction, it found support at the 1670.93, while key resistance is at the 1683.53 level. The aussie today fell back to the 1.0350 support level after finding resistance at the 1.0452 level this morning. US stock indices opened today flat after S&P 500 climbed to a 4-year high on the previous trading session, the Dow Jones Industrial Average is down by 13.47 points, or by 0.10 per cent, at the 13,250.71 level. The S&P’s 500 Index is lower by 0.10 per cent, trading at the 1,417.54 level. Euro The common currency against the greenback has been trading in a range, between the 1.3372 top of the range and the 1.3300 bottom of the range. Moving Averages do not give clear signals for investors and technical indicators are mixed. Investors seem to wait the news from the U.S economy today and the Non-Farm Payrolls at the end of the week, the mostly anticipated economic indicator for market players. European stocks were flat on Tuesday the 3rd of April, the France’s CAC40 Index is now trading at the 3,446.50 lower by 0.49 per cent and the Germany’s DAX Index is now trading at the 7,050.14 negative by 0.10 per cent. British Pound British Chambers of Commerce Director General John Longworth said today that “The UK economy is still facing huge challenges and the recovery is much too slow” and set pressure on the Chancellor of the Exchequer George Osborne to do more to boost a slow recovery by helping businesses. The British pound rose to the 1.6062 level earlier today, highest rate since November, before falling back below the 1.6000 psychological level, was lastly seen at the 1.5980. The FTSE 100 Index is trading 0.06 per cent lower or dropped by 3.00 points, at the 5,871.87 level.