Greek Backstop

The fed funds target rate at a range of 0 to 0.25%, the Fed will likely talk about an exit strategy amid a US improving economic outlook but unlikely to change its language. If the central bank removes the “exceptionally low” for an “extended period,” the dollar will rally with declines in equity and bond prices. US stocks recovered earlier losses and the S&P 500 rose 0.52 to 1,150.51. Risks increased after a rhetoric escalation between China and the US. Chinese Premier Wen Jiabao, rebuffing calls for a yuan appreciation, reiterated that China will keep the yuan “basically stable” and maintain a moderately loose monetary policy and expansionary fiscal stance. The yen rose ahead of Tuesday’s Bank of Japan policy meeting on worries that the issue of the yuan appreciation could lead to increasing protectionism.

Euro Falls on No Immediate

Immediate Greek declined for the first day in four on concerns over Greek rescue plans and the European financial outlook. Some EU finance ministers said they did not see the need for any Greek aid plan at this time. ECB’s Ewald Nowotny said European governments have to start pushing down their budget deficits in 2011 or they “can end up in a debt spiral and consolidation will become costlier and more painful.” The EUR/USD tentatively broke its downtrend on Friday but reversed those gains today. A new test of the downtrend and resistance from the 50-day moving average in the 1.38-1.39 area is possible. If this is broken, the EUR/USD

AUD/JPY drop

FXstreet.com (Barcelona) – After AUD topped at 83.60 area (fresh 7-week high) following an impressive 700 pips upleg triggered on early January, the pair has now reversed its course and is falling sharply. AUD shed more than 100 pips on the drop.

On March 16 AUD continues trimming recent gains and price just hit a fresh 5-day low at 82.25. The pair encountered support on the 21 EMA to bounce off and is currently hovering around 82.50.

On the downside, support can be found at 82.40 (March 8 high), 82.19 (March 10 low) and 81.99 (March 9). On the upside, resistance lies on 82.48 (March 8 high), 82.69 (March 12 low) and 82.89 (March 15

Forex: NZD/USD gains

FXstreet.com (Sydney) – The NZD regained losses against the dollar and is currently trading at 0.7044. The Kiwi had earlier opened on 0.7019 and had been as high as 0.7049. The pair finds support at 0.7019, resistance at 0.7072 and is considered slightly bullish.

The NZD benefited originally from the return of risk appetite. However, the Kiwi may fall as caution returned to the markets. There are fears that China may tighten fiscal policy in response to a jump in consumer prices to 2.7% during February. Minutes from the latest RBA meeting also indicate that it is unlikely that rates will be lifted in Australia once again in April

Kat Walsh

is a Wikimedian from Herndon, Virginia, just outside Washington, DC. She is a registered patent agent, currently studying technology and intellectual property law at George Mason University School of Law.

Kat has been a volunteer for Wikimedia since 2004. She is a press contact for Wikimedia, having appeared in national media, and answers mail sent to the Foundation. In October 2005 she was appointed to the Arbitration Committee on the English Wikipedia, which she served on until joining the Board. She is active in the DC-area free culture and public interest community. Kat is also a classical bassoonist and violist, performing in regional orchestras.

WikipediaJan-Bart de

Jan-Bart de Vreede was named Vice-chair of Wikimedia Foundation in January 2007 after having joined the board in December 2006.

Working at the Kennisnet Foundation allowed Jan-Bart to spend time promoting the use of wiki software and Wikimedia projects in education, amongst other things. The Kennisnet Foundation is a publicly funded Dutch organisation. At Kennisnet Jan-Bart is responsible for the educational portals and content creation tools. Jan-Bart has been involved with Wikimedia since 2004, through his role as a Board member and his work at Kennisnet. He has attended and spoken at all of Wikimania conferences.

He is currently involved with the Wikiwijs project within the Netherlands. This is a countrywide initiative aimed at encouraging teachers to develop and share Open Educational Resources.

Jan-Bart de Vreede spent most of his childhood in the Netherlands, also living in Sri Lanka, the Maldives, Kenya and the United States. He studied Business Administration at the Rotterdam School of Management. He has three children: Anna (0), Matthias (5) and Ruben (8).

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