[ForexNews]

Trading Strategy — Batter up... With the Yankees christening their new stadium in the Bronx yesterday and Spring in the air, the theme is baseball. Although the Yankee's posted a lost for their first game in the new stadium, the markets look poised for a win (at least today). The line up of financials and corporates reporting earnings proved to be strong, with Research in Motion, Wells Fargo, Goldman, Google, and JP Morgan all reporting better than expected earnings, GE and Citi didn't have much of a choice but to follow the trend. Both companies reported better than expected earnings per share with GE reporting $0.26 vs a consensus of $0.21. Citigroup's EPS came in at ($0.18) vs a consensus of ($0.34). Both of these earnings should provide a boost for the markets. In Asia, equities finished the week mostly flat amidst mixed economic data from China and late session equity rallies in the US. The USD posted gains against most majors with the biggest gains coming against the Euro. Trichet's comments in Tokyo overnight, lead to a decline in the Euro. Moody's continued the Euro bearishness by saying they may possibly downgrade Ireland. We expect the next level of support to come in at 1.2940. Comments from the SNB also drove the CHF weaker against the USD. The Bank of Mexico is also expected to cut their rates by 75bp today. Will the string of strong hits and game saving catches continue into next week or the next inning? Only time will tell…