Good morning from Hamburg and welcome to the Daily FX Report. Today we will report about the US market and some other important details. Anyway, we wish you a successful trading week.

Markets review

The U.S. index of leading economic indicators rose for the fifth month and capping the longest stretch of gains since 2004 and signaling a recovery is under way. The economic outlook for the next half year rose 0.6% in August. The Federal Reserve Chairman, Ben S. Bernanke, means that the worst recession since the Great Depression has probably ended, notwithstanding the unemployment is rising and tight credits at the same time. That could be a reminder for a slower rebound. The USD climbed against the JPY and touched 92.53, this was the highest level since a couple of days. The USD fetched a gain of 0.2% and reached the level 1.4677 versus the EUR.

The EUR touched a five month-high against the GBP at 90.78. Also versus the USD, the GBP declined 0.3 percent to 1.6217. The leading European banks expect that the GBP will be the weakest currency in the G-10 universe over the next 6 to 12 month.

Technical analysis

AUD/NZD

Since the beginning of September, the AUD has been trading in a bearish trend. Now it is touching the lower Bollinger Band. Three times before, as the AUD touched the lower Bollinger Band, the price rebounded and could increase over the middle Bollinger Band. This could be a signal for a bullish counter movement. Also the RSI may indicate that the currency pair will rise again above the middle Bollinger Band

GBP/USD

Since the middle of September, the GBP has been trading in a bearish trend channel versus the USD. The GBP always recovered when it touched the bottom line and rose at least again after touching its long-term support at 1.6127. The crossing MACD may indicate a continued bullish trend, but it remains to be seen if the currency pair could cross the upper trendchannel line sustainable