Aussie Testing Support At The Lows

The USD is continuing to be the mover and shaker, trading on highs against the majors with the Nikkei currently up 0.80%. Currently the AUD/USD is testing the lows around 1.0460; the 0.0% on the hourly chart. We haven’t seen trading at this level since January 20th.
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This area also has signifigance from a daily perspective, with 1.0415 being the 61.8% fibo line on the move from January 9th up to the high on February 29th. If support holds here we look back towards 1.0498 as our longer-term target. Lower we have the 200 day moving average coming in at 1.0402 and the 100 day moving average at 1.0369.
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Bobbys Corner-Open Market-March.14.2012

Good Morning:

Out of the 19 banks that had to pass the Fed’s “stress test”-4 failed.  They were SunTrust, Ally Financial (formally GMC), MetLife and Citigroup.
JP Morgan Chase announced a 20% dividend increase. The announcement sparked a rally in the financial sector.  Also joining the dividend party are Wells Fargo, PNC and US Bancorp, who all have plans to lift their dividends.

Citi and SunTrust will be sending revised capital plans to the Fed-after failing the latest “stress test”.

The IEA (International Energy Agency) has warned of potential supply issues in the oil markets as Iranian oil exports are widely expected to dwindle as the year goes on.

In US political news-Rick Santorum won primaries in Mississippi and Alabama -showing that he is the favorite Republican conservative.  It will be almost impossible for Santorum  to win the nomination-but he is sure giving Mitt Romney a run for his money.  Most importantly-there is not a clear cut front runner in the Republican party to go up against President Obama.

Asian equity markets were mixed-Europe is hi9gher-and US Futures are just barely holding on to positive numbers.
Oil, Gold and Silver are all lower.

AUD/USD getting close to the 50% retracement level.

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AUD/USD getting close to the 50% retracement level from this recent rally.

USD/HKD continue to rally after break out of a upward wedge.
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USD/HKD continue to rally after break out of this upward wedge getting close to recent highs, which might provide some resistance for the pair.

oil/usd fails to stay above the top of this sideways channel.