Coming Up Today (all times GMT)

* GBP Nationwide HPI m/m (06:00) * GBP Services PMI (08:30) * USD ADP Non-Farm Employment Change (12:15) * USD Unemployment Claims (12:30) * USD ISM Non-Manufacturing PMI (14:00)

After destabilizing, due to the Japanese Prime Minister resigning, the Yen consolidated overnight gains. The French bid for euro zone gains little ground. The European Union promises to constrain banking shake-up before the G20 Summit.


The sentiment towards the EURUSD still remains bullish. The Euro hovered around $1.2300 levels. Waiting for the Unemployment claims today the traders seem more focused on numbers.

Support/Resistance 1.2244/1.2306


As the ruling democrats prepare to vote on Friday to pick their new leader, the USD/JPY may be catching up with the May's dollar rise. A new cabinet is expected to be formed as early as tomorrow. According to political sources Mr. Kan is most likely to be the next Prime Minister.

Support/Resistance 91.77 /92.33