EUR USD breaks above the 1.3900 level and has shifted the momentum. Intraday bias has changed to the upside, as long as the 1.3427 minor support line is not broken. On the upside, the DOW medium swing (from the 1.3427 low) has been able to successfully break the 1.3880 minor resistance line and is targeting the 1.4280 major resistance line.

UK government borrowing could be less than forecast this financial year after better-than-expected figures for February and revised January data.

With the Bernanke news a non-event, traders will be watching the Case-Shiller Housing Report and the Conference Board’s Consumer Confidence figure for direction. The Case-Shiller Report is expected to show a decline of 16.4%. This number would be the smallest drop in almost a year.

In the last three weeks, three significant policy announcements have been made. The Federal Reserve stated it is firmly committed to Quantitative Easing and will double its balance sheet before the end of 2009. Treasury Secretary Geithner announced a plan to get toxic assets off of bank balance sheets.