Forex Market Report 17th August 2010
Forex Currency: EUR/USD
News: Some data showed China reduced its holding of US bonds, which suppressed the USD and supported the Euro
Comment: Bearish
Open: 1.2822
Price: 1.2852
Forex Currency: GBP/USD
News: UK Rightmove housing price Index in August declined 1.7% which limited the pounds upside.
Comment: Consolidating
Open: 1.5653
Price: 1.5670
Forex Currency: USD/JPY
News: Japan’s GDP in the second quarter only rose 0.1%, market risks picked up and supported the yen.
Comment: Consolidating
Open: 85.33
Price: 85.32
Forex Currency: USD/CAD
News: As oil prices fell, the loonie retreated.
Comment: Bullish
Open: 1.0430
Price:1.0404
Forex Currency: USD/CHF
News: With yesterday’s liquidity inflow to US bonds, market risks picked up and the low-yield currency such as the Swiss franc was supported
Comment: Consolidating
Open: 1.0393
Price:1.0410
Forex Currency: AUD/USD
News:As investors were concerned the Reserve Bank of Australia may defer the rate hike cycle in the rate review minutes to be released today, the Aussie’s
upside was limited.
Comment: Bearish
Open: 0.8970
Price:0.9014
Forex Currency: NZD/USD
News:The rate futures market predicted the New Zealand’s central bank might only have a chance down to 40%for a rate hike in the next policy meeting, and therefore the kiwi’s upside was limited. Bearish
Comment: Bearish
Open: 0.7060
Price: 0.7093
Due for release today is the AUD Monetary Policy Meetings Minutes, EUR German ZEW Economic Sentiment, AUD RBA Gov Stevens Speaks, USD Buildings Permits and USD PPI m/m.
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