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Market Analytics:FBS Markets Inc. GBP/USD: a short squeeze GBP/USD made yesterday the biggest advance in 7 months rising by more than 1%. Pound’s advance was probably the result of a short squeeze. According to Rabobank International, GBP was also driven up by the expiration of options with stops above $1.50. Moreover, sterling got support from somewhat unexpected side – the speculation that Qatar will invest in UK infrastructure projects boosting demand for the British currency. Chancellor of the Exchequer George Osborne will deliver the budget on March 20 and there’s a lot of talk of potential delay of some austerity measures. Bank of England Governor Mervyn King said the bank was not seeking a further depreciation in sterling and that the currency was now properly valued. Mizuho says that sterling could go to the $1.5150 area but still remains in an overall downward channel. ANZ regards the recent leg up as a good opportunity to sell. UBS, however, thinks that the BoE won’t change its inflation target next week, as some specialists believe, and expects stronger pound. Resistance lies at $1.5120, $1.5140, $1.5200. Support is at $1.5047, $1.5000, $1.4910. In our view, sterling will go for testing resistance. Chart. Daily GBP/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-03-15/21978-gbpusd-short-squeeze

Market Analytics:FBS Markets Inc. EUR/CHF: positive prospects EUR/CHF strengthened to 1.2360 on SNB comments, but then eased back to 1.2330 following weak euro zone’s employment data. For now the upside remains capped by the 100-week EMA (1.2360). However, the current bearish move from 1.2390 is still seen as corrective as long as the pair holds above 1.2300/2285. In a long term the SNB looks ready to fight the franc’s appreciation. Analysts at BNP Paribas maintain their long position from 1.2300 with a target of 1.2800 and a stop below the 1.2000 peg. Chart. Daily EUR/CHF Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-03-14/21972-march-14-european-session

Market Analytics:FBS Markets Inc. March 14: European session EUR/USD slid close to 2013 lows hitting $1.2924. Employment in the euro area fell in Q4 by 0.3% q/q and by 0.8% y/y. Jobless rate in Greece rose from 24.8% to 26%. According to ECB monthly bulletin, the central bank’s monetary policy will remain accommodative. There was also more optimistic news. Spanish long-term bond yield decreased at today’s debt auction. The nation’s economic ministry official said that Spain’s economy could improve due to growth in exports, reports Reuters. GBP/USD is consolidating in the narrow $1.4950/30 range. EUR/GBP slipped to 0.8655. USD/CHF strengthened to 0.9545 on the SNB comments, though there was nothing unexpected there. EUR/CHF edged lower to 1.2340 after the weak euro zone’s employment data. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-03-14/21972-march-14-european-session

Market Analytics:FBS Markets Inc. AUD/USD: improving prospects AUD/USD jumped by 100 pips to $1.0380 as upbeat Australian employment data reduced expectations of the RBA rate cut. Number of people employed unexpectedly surged by 71.5K (forecast: 9.5K; prev.: 13.1K). Unemployment rate remained at 5.4%. Commonwealth Bank of Australia: It’s a very strong employment number, and somewhat surprising given the challenges the Australian employment market is facing. It illustrates the underlying strength in the economy. The market that was primarily short the Australian dollar is now unwinding. RBC Capital Markets: This seems likely to reinforce the RBA's confidence that sitting on their hands is the right stance. The technical picture is also improving. Aussie broke above 50% Fibonacci retracement from a recent decline. A fix above $1.0380 will be a strong bullish signal. Next tagets are $1.0480 and $1.0600. The key support lies at $1.0300. Chart. H4 AUD/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-03-14/21964-audusd-improving-prospects

Market Analytics:FBS Markets Inc. Key options expiring today Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (3 p.m. GMT). Here are the key options expiring today: GBP/USD: $1.4925, $1.5000; USD/CHF: 0.9450, 0.9500; AUD/JPY: 99.00; EUR/GBP: 0.8675, 0.8755; EUR/CHF: 1.2300, 1.2315, 1.2350. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-03-14/21960-key-options-expiring-today

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Market Analytics:FBS Markets Inc. EUR/CHF: technical picture EUR/CHF is moving down for a third consecutive day. Euro has already depreciated to 1.2305 francs. For now the upside remains capped at 1.2390 (March high). The next support lies in the 1.2300/2285 area (38.2% Fibonacci from the recent rise) and then at 1.2255 (50% Fibo). A slide below will open the way for further losses. Chart. H4 EUR/CHF Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-03-13/21956-eurchf-technical-picture

Market Analytics:FBS Markets Inc. March 13: European session EUR/USD remains in the same narrow trading range, but slipped to $1.3020. Euro is pressured by negative data releases. French NFP contracted more than expected, and CPI came out below forecast. Euro zone’s industrial production fell by 0.4% m/m in January (forecast: -0.1%; Dec.: +0.7%). Italy is set to release the results of the debt auction. GBP/USD is up by almost 70 pips from the day’s opening to $1.4970 after forming a hammer yesterday. Pound strengthens after 5 days of declines as its recent slump was excessive. EUR/GBP fell to 0.8700 from yesterday’s peak just below 0.8800 due to renewed strength in the sterling in combination with a soft momentum in the single currency. EUR/CHF keeps moving down to 1.2300. EUR/JPY slid from March highs at 126 to 124.80. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-03-13/21951-march-13-european-session

Market Analytics:FBS Markets Inc. USD: focus on retail sales The market’s expecting better Feb. US retail sales data – consensus forecast is +0.5% after +0.1% in Jan. The core indicator (excluding auto dealers and gasoline stations) are expecting to add 0.5% after increasing by 0.2% in the first month of the year. The reasons for optimism include improvement at the labor market (retailers took on almost 24K new employees last month) and stronger household finances which helped consumers adjust to a higher payroll tax. Rising home and stock prices also have a positive impact boosting household wealth and cushioning the economy against the effects of government spending cuts that are now taking hold. Good retail sales number will be positive for USD. Yet, some analysts are not that optimistic. Barclays recommends being cautious about downside risks in today’s retail sales data as the full impact of payroll tax hikes might not have been in January data. In addition, there was also talk last month that Wal-Mart had a sales slump in Feb. Friday. The data is due at 12:30 GMT. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-03-13/21939-usd-focus-retail-sales

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Market Analytics:FBS Markets Inc. March 12: European session EUR/USD is trading on the downside, still capped by resistance at $1.3045/55. French current account deficit widened from 3.8B euro in Dec. to 5B euro in Jan. CPI in Italy and Germany came in line with forecasts. Greek GDP dropped by 5.7% in Q4 (initial reading: -6%, previous: -6.7%). Portugal’s economy contracted by 1.8% q/q in the last 3 months of 2013 declining for the 9th quarter in a row after losing 0.9% in Q3. GBP/USD extended losses to $1.4830 as British Jan. manufacturing production unexpectedly contracted by 1.5% m/m (cons: 0.0%; Dec.: revised down to +1.5%). Industrial production also came below expectations and declined by 1.2% m/m. Meanwhile, trade deficit narrowed from 8.7B to 8.2B. Watch the NIESR GDP estimate at 15:00 GMT. EUR/GBP jumped to 0.8775. EUR/CHF slid to 1.2330 after reaching 1.2390 on Friday. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-03-12/21919-march-12-european-session

Market Analytics:FBS Markets Inc. GBP/USD: technical picture remains gloomy GBP/USD is testing levels below $1.4900. There is some support at $1.4865 (yesterday’s low) and $1.4800 and we see some diversion on daily MACD. Yet, the upside will likely be limited by the psychological level of $1.5000. Only a recovery above $1.5047 (Mar. 8 high) may mean that the temporary minimum is formed and sterling will have chance to correct to $1.5080/5100. There will be also some resistance at $1.4950. RBS points out that although pound’s oversold, there’s little chance of a trend reversal in the short term. The specialists recommend looking for potential support at $1.4783 (March 2010 minimum). Otherwise expect the sell-off will continue to the $1.4234 level before a significant turnaround. Chart. Daily GBP/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-03-12/21916-gbpusd-technical-picture-remains-gloomy

Market Analytics:FBS Markets Inc. Key options expiring today Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (3 p.m. GMT). Here are the key options expiring today: EUR/USD: $1.2950, $1.2975, $1.3000, $1.3075; GBP/USD: $1.4900, $1.4995, $1.5025; USD/JPY: 95.00, 95.50, 95.60, 96.00, 96.40, 96.50, 96.75; AUD/USD: $1.0200, $1.0225, $1.0240, $1.0330; EUR/CHF: 1.2200, 1.2350; GBP/JPY: 142.00; AUD/JPY: 96.00 USD/CAD: 1.0280. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-03-12/21912-key-options-expiring-today

Market Analytics:FBS Markets Inc. March 12: Asian session EUR/USD is calmly trading in a narrow $1.3020/40 range. Today there are no important releases on the agenda, except for the German final CPI and WPI at 7:00 GMT. USD/JPY set new high at 96.71. Yen dropped for a fifth day as Bank of Japan deputy governor nominee Kikuo Iwata said decisive monetary easing is needed. Minutes released today of the BOJ’s meeting also showed that the central bank members are considering bolder stimulus measures. AUD/USD reached $1.0312 as Asia stock markets rallied and as investors pared bets on interest-rate cuts by the Reserve Bank of Australia, but then resistance became too strong and it returned to $1.0280. NZD/USD is trading on the downside, probing support at $0.8250. Kiwi’s affected by severe droughts which may affect New Zealand’s economic growth. GBP/USD remains below $1.4900. Yesterday the cable tested $1.4865 (lowest since June 2010). Today watch the British Jan. manufacturing production (forecast 0.0% vs. Dec. +1.6%) and trade balance at 9:30 GMT. Great Britain will also release NIESR GDP estimate at 15:00 GMT. USD/CAD recovered to 1.0265. USD/CHF is right under 0.9500, up from 0.9468. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-03-12/21906-march-12-asian-session

Market Analytics:FBS Markets Inc. NAB: sell AUD/USD on rallies Most analysts remain skeptical about the prospects of the Australian currency. Combination of weak Chinese and upbeat US figures is weighing on the Aussie. According to Saturday’s release, Chinese industrial production increased only by 9.9% in Jan-Feb (cons: 10.4%; prev.: 10.3%). Analysts at NAB recommend selling AUD/USD on highs as they expect it to revisit $1.0115 before the end of March. In their view, AUD can leak lower again without the need for domestic data to worsen and RBA rate cut fears to revive. Falling metals prices are the fundamental driver which could be a catalyst for AUD’s depreciation, especially after the soft China data. Chart. Daily AUD/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-03-11/21890-nab-sell-audusd-rallies

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Market Analytics:FBS Markets Inc. USD/CAD: all eyes on payrolls Analysts at BK Asset Management think that USD/CAD may be the most interesting pair to watch today as Canadian and US employment figures will be released at the same time. USD/CAD has already gained much since the beginning of the year. Last month the number of jobs in Canada contracted by 21.9K and the Bank of Canada sounded rather dovish. If Canada records second consecutive month of job losses (forecast: +7.8K), while US payrolls come closer to 200K (forecast: 162K), USD/CAD could jump to 1.0400 level and head towards 1.0500. Chart. Daily USD/CAD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-03-08/21872-usdcad-all-eyes-payrolls

Market Analytics:FBS Markets Inc. EUR/USD: an attempt to recover? EUR/USD made an impressive advance yesterday as the ECB President Mario Draghi sounded less dovish than the market’s expected. As analysts from Danske Bank said, “data are soft – Draghi is not”. Draghi hinted that as long as the medium-term outlook is okay the ECB won’t cut rates further but will keep the borrowing costs unchanged at low levels for a long time. Draghi didn’t say that euro’s appreciation poses downside economic risks and acknowledged lower inflation. The main risks for EUR are now those associated with Italy and until political uncertainty in this nation is sorted out EUR/USD may find itself in the $1.3200/2900 area. Nomura keeps recommending selling EUR on rallies. In their view, “the single currency is in a new regime of growth under-performance as key driver.” US non-farm payrolls (NFP) might clarity whether EUR/USD manages to recover further. Economists expect US jobs to increase by 162K in Feb. after adding 157K in Jan. Better than expected figures will be positive for USD. Resistance for euro lies at $1.3125/40 (100-day MA, top of the weekly Ichimoku Cloud) and $1.3200, while support is found at $1.3055, $1.3000 and $1.2965. Chart. Daily EUR/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-03-06/21822-march-6-asian-session

Market Analytics:FBS Markets Inc. Key options expiring today Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (3 p.m. GMT). Here are the key options expiring today: EUR/USD: $1.2950, $1.3000 (large), $1.3075, $1.3100, $1.3130; GBP/USD: $1.4900, $1.5000, $1.5100; USD/JPY: 93.00, 93.30, 93.40, 93.75. 94.00, 95.00; USD/CHF: 0.9400, 0.9570; AUD/USD: $1.0200, $1.0205, $1.0250, $1.0290, $1.0300 (large); NZD/USD: 0.8355; USD/CAD: 1.0300 (large); EUR/JPY: 121.00; EUR/CHF: 1.2300, 1.2400. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-03-08/21863-key-options-expiring-today

Market Analytics:FBS Markets Inc. March 8: Asian session EUR/USD is trading just below $1.3100 after it gained about 140 pips yesterday. The single currency went up on Thursday after the ECB President Mario Draghi said that the region will gradually recover later this year even as the regulator trimmed economic forecasts. USD/JPY rose to 3 1/2-year maximum at 95.44 on speculation that an improving labor market will compel the Fed to slow stimulus, while Japan plans to extend easing policies. In addition, Japan posted current account deficit for a third month in a row. Australian and New Zealand dollars weakened against the greenback after a report showed a bigger-than-expected decline in imports for China, their biggest trading partner. AUD/USD slid by 20 pips to $1.0245. NZD/USD slid to $0.8260. GBP/USD keeps hovering around $1.5000. The pair retraced from yesterday’s high at $1.5082 printed on after the Bank of England kept monetary policy on hold. USD/CHF rose to 0.9445 after falling from 0.9488 yesterday. USD/CAD is consolidating around 1.0300. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-03-08/21859-march-8-asian-session

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Market Analytics:FBS Markets Inc. March 7: European session EUR/USD started the day at $1.2965, reached $1.3044, but then started drifting down again on bad figures from Germany. EUR/GBP rose today from levels around 0.8630 almost reaching 0.8700. EUR/CHF rose by 30 pips from $1.2300. Franc weakened as market players were awaiting comments from the SNB’s Jordan, but there are no news about that, so it seems that he didn’t speak. GBP/USD is testing the levels below $1.5000. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-03-07/21854-march-7-european-session

Market Analytics:FBS Markets Inc. NZD/USD: near-term outlook NZD/USD is facing key resistance at $0.8300 (psychological level, 100-day MA, Ichimoku Cloud on H4). The pair has so far breached resistance from February highs. However, there may be a ‘head and shoulders’ pattern on H1 with the neckline at $0.8260 (bottom of the daily Cloud). A decline below this level may provoke a slide to $0.8200/8190. On the other hand, a break above $0.8310 may bring kiwi to $0.8350. Fundamental factors which may drive the pair lower are the expectations of better data in the US and serious drought in New Zealand. Chart. H4 NZD/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2013-03-07/21853-nzdusd-near-term-outlook