The sterling bounced against lower-yielding currencies after today's report which showed that jobless claims for March slipped 32,900 from February to 1.54 million, beating estimates. On the other hand, the yen and dollar retreated as stocks edged up on better-than-estimated profits by Apple. The dollar index, a gauge of the dollar movements versus six major currencies, plummeted to 80.99 from the day's opening at 81.06.
With regard to the euro-dollar pair, it is little changed on the daily charts with slight advance on the 4-hour and 1-hour charts in the absence of economic data from the euro zone today. The outlook for the euro remains fraught as Greece will receive the 45 billion euros aid from the EU and IMF during the coming meeting in Athens next week. Currently, the pair is trading at 1.3433 recording a high of 1.3447 and a low of 1.3396, whereas support is seen at 1.3400 while resistance is at 1.3500.
As for the sterling-dollar pair, it is inclining on the daily charts after jobless claims showed remarkable improvement for the second month in March reflecting the progress seen by the economy in the fourth quarter ahead of the release of GDP advanced reading for the first quarter tomorrow which is predicted to show 0.4% expansion. Also, U.K. resumed its flights in safe areas where ash clouds are thin which will help companies to resume their activities once again and recover their losses. However, the economy remains under threat till announcing a clear winner on May 6 elections to tackle the huge deficit. Meanwhile, the pair is trading at 1.5422 reaching a high of 1.5431 and a low of 1.5329 while it is expected to move between support at 1.5330 and resistance at 1.5422 then 1.5500.
Relative to the dollar-yen pair, it is continuing its rise on the daily charts for the third day after getting support at 91.65 on Monday heading towards strong resistance at 93.76. The pair is currently trading at 93.32 after reaching a high of 93.40 and a low of 92.95, whereas support is seen at 92.85 while resistance is at 93.70.