Monday, March 24, 2008

Daily Outlook - March 24th, 2008

Today is Easter Monday, another major Holiday in many parts of the world. We will not be trading the European session today but may look to take a low risk entry on our GBP/JPY and USD/JPY pairs during New York if the right setup presents itself.

Some interesting news today:

1) More grief in the housing markets.

2) Fed may start buying Mortgage backed securities.

3) G-7 intervention to prop up the dollar may be coming soon.