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Today the currency pair EUR/USD boosted out in the forex online market because of the rumors in the US market getting support from the ECB. Since from the past year’s low the pair drop down to 20 percent after the December high and in mid July it drops to 22 percent low. Now we are experiencing the a demand of additional gain in the Forex market because of the drop down of Dollar in the US market in the past 2008. The federal government only needs approach that will benefit the market is to sell the USD and not to ban their short sales. It is predicted about the US economy that it will become better in the year 2010 suggested by the Conference Board LEI data. The US economy unexpectedly slips down to 0.1 percent in April month after getting revised of 1.3 percent in the month of March.

The Europe economy is facing downside since the past year’s fall down of euro. The euro zone countries are going through the tough days of the economy but there is bright sunshine is seen in this week as the currency pair EUR/USD goes high because of the news that the EURO will receive a great help from the ECB government. But, the investors is still in doubt because of the failure of the Stabilization fund that has been announced to provide favor to the EURO currency. Germany prices grew more in April as expected to 0.8 percent. This has been recognized as the third advance as in the march month it was only reaches to 0.7 percent. It is also seen that the UK retail sales incremented for the third time in past three months including April. The retail sale price seasonally noted that was up in April from 0.1 to 0.3 percent.

Now the Asia-Pacific Forex market impact as it is seen that the Japan’s economy recovery was not raise this week as expected. GDP of Japan was abouit 4.9 percent recoreded as it is low that forecasted for the first quarter of the 2010 year. Since in fourth quarter of the past year the GDP recorded was up to 4.2 perecent but it does not do well this year. As if we talk about theAustralia’s economy rate it was down at 3.6 perecnt in the month of May than in April as it was recorded to 4.1 percent at that time. This uncertanity is due to the euro zone events that does not provide any benefits to the Europe instead affects the Global economy recovery. This survey is done by the consumer inflationary of  Melbourne Institute.

In Asia this week is not at all as good in terms of economy since the EURO is getting benefited from the past two days. This makes the currency pair of EUR/USD to hits high of 1.2671 from the low of 1.2150 points. The all euro currency pairs are showing good results after the upside trend of EURO in the Forex Trading chart. EUR/CHF reaches to 1.4585 by gaining 235 pips and EUR/JPY reaches the high of 114.35 points in a day where as 100 pips was gained by the currency pair EUR/GBP and reaches to a high of  0.8770 points. While Yen goes high against the equities and commodities that are going low along with the Nikkie reaches to 3 percent and touches the one point low in five months. These are all the latest updates about the Forex market of today in technical terms.

Across the Atlantic, Greek government bonds dropped as some of the world’s biggest investors said the European Union’s €45 billion bailout plan for the debt stricken nation failed to make the securities attractive. The declines pushed the yield on the two-year note up for a second day after Pacific Investment Management Co., which runs the world’s biggest bond fund, said it’s too early to buy Greek debt and BlackRock Inc. said EU states planning to participate in a bailout must show they can withstand a “backlash” from their citizens. Moreover, Portuguese bonds declined after the EU said the government needs to do more to tackle its budget deficit. “The aid package is a safety net, but it doesn’t change the fiscal situation in Greece,” said Luca Jellinek, a senior interest-rate strategist at ANZ Banking Group Ltd. in London. “Yields are not going to fall straight away. They need to show they are successfully cutting the deficit.”

Yesterday, the Eurostat released Europe’s Industrial Production for February. While markets had expected a slight increase of 0.2%, the report showed a sharp increase of 0.9% in industrial production between February and March – indicating that the EU’s recovery in the manufacturing sector remains firmly on track.

Later today, the ECB will publish its monthly bulletin. Released one week after the central bank’s rate interest decision, this report exposes the figures that the ECB used to make its rate decision – generally the report includes hints about future policies.

In regards to the commodity based currencies, Canada’s dollar appreciated to the strongest level in 22 months versus its U.S. counterpart as a rise in global stocks and commodities burnished the appeal of currencies tied to growth. For the first time this week, the Loonie dipped below the parity line with its American counterpart, to hit C$0.99590, its strongest value since June 2nd of last year.

In Australia, consumer expectations of inflation rose in April with a drop in the proportion of people predicting that price increases would fall within the central bank’s target band, a survey says. The Melbourne Institute (MI) survey of consumer inflationary expectations said the median expectation for inflation rose 0.9% point to 4.1% in April. Australia’s rate of headline inflation was an annual 2.1% in the year to December 2009, according to Australian Bureau of Statistics figures. The proportion of consumers expecting inflation to be within the Reserve Bank of Australia’s (RBA) two to three per cent target band fell in April for the second consecutive month, down to 15.9% from 18.6% in March. “This month’s report indicates inflation pressure is mounting after a relatively stable period,” Melbourne Institute research fellow Michael Chua said in a statement. “For the first time since February 2009, the proportion of consumers expecting inflation to be within the RBA’s 2-3 per cent band, is below its 12-months moving average.”The jump in the median inflation rate is significant and suggests that consumers expect demand to grow at a faster rate than changes in production.” The Aussie rose 0.85% against the U.S Dollar yesterday, closing at $0.93567 in the forex online market.

In the US the minutes of the March Federal Open Market Committee were released yesterday in Washington. Federal Reserve officials saw signs of a strengthening recovery that could be hobbled by high unemployment and tight credit and some warned of raising rates too soon.

“While recent data pointed to a noticeable pickup in the pace of consumer spending during the first quarter, participants agreed that household spending going forward was likely to remain constrained by weak labor market conditions, lower housing wealth, tight credit, and modest income growth,” minutes of the March 16 FOMC  meeting showed.

Fed officials are looking for signs of self-sustaining growth before they begin their exit from the most aggressive monetary policy in U.S. history. Payrolls rose by 162,000 last month, the most in three years and manufacturing grew at the fastest pace in more than five years.  However last month’s increase in payrolls, the third in the past five months, wasn’t enough to push down the jobless rate. The economy has lost more than 8 million jobs since the recession began in December 2007 and the unemployment rate is 9.7%.

Euro Zone investor confidence unexpectedly moved to a positive territory in April, results of a key survey showed yesterday. A measure for Euro area investor sentiment rose to 2.52 in April from – 7.48 in March, the Sentix research group said. That was the first positive figure since June 2008. Economists had predicted a reading of -5.9.

The Euro slid on markets early yesterday after a news report claimed Greece wanted to bypass International Monetary Fund involvement in a rescue. The nation’s Finance Minister George Papaconstantinou quickly responded to the report and said his government has not tried to modify the terms of the package to exclude the IMF. He said that the EU aid plan was “important” for Greece and Europe, and the nation has not sought to activate the aid plan.

However in the forex online market the Euro closed the day down 0.26% against the US Dollar at EUR 1.3363. Against the Pound the Euro dropped 0.46% to close at GBP 0.8773.

The European minimum bid rate is due to be published tomorrow at 11:45 GMT. Jean-Claude Trichet isn’t predicted to move the rate from 1%. Trichet’s words in the ECB press conference will probably shake the Euro – likely topics include the Greece agreement and the future of the European economies.