FOREX MARKET ANALYSES

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The Australian dollar has been under selling pressure today due to Building Approvals released significantly less than expected, market consensus was for an increase of 2.8% while total Dwellings Approved declined by 2.4% in January ‘13 compared to December ’12 upward revision of -1.7%. AUDUSD continued the negative path and penetrated earlier today the handle at 1.0182 entering into a fresh low ground not seen in the last 5 months. Furthermore, risk-off was one more factor weighing on Aussie due to spending reduction triggered in US and debt concerns in Europe.

Aussie Weakens On Dwellings, EURUSD At 1.30 Ahead of Eurogroup

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The Euro against the greenback dropped below the 1.30 psychological level, rebounded to 1.3040 cap and is now trading at 1.3009, in the shadow of the political uncertainty in Italy. Should the political leaders be unable to form any coalition, Italy could go for another round of elections in summer entering into several months of political instability. Additionally, at today's meeting of the 17-member’s Finance ministers Cyprus bail out would be discussed that could approximate the size of €18 bln.

The USDJPY found lid at 93.70 on Friday and dropped to 93.28 due to Chinese stocks decline after Chinese government imposed measures to hold rising property prices. However during the weekend the BOJ nominee Haruhiko Kuroda, who is likely to be approved by parliament, said that the size and type of asset purchases is not enough to achieve its 2% inflation target, raising the USDJPY pair back to 93.70

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FOREX TECHNICAL ANALYSES

FX Volatility

High/Low daily close values derived from 20-day moving period; StDev – annualized standard deviation of one month's daily returns.

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Currency Market Correlation

Correlation coefficients determined on the basis of one month’s daily returns.

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DEPOSIT METHODS

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