Aug 16

Spain suggests future tax hike

Experiences No Comments »

Forex Market Report 16th August 2010

Forex Currency: EUR/USD 
News: U.S. initial jobless claims unexpectedly bounced back, prompting market risks pick-up, which supported the USD and suppressed the euro. 
Comment: Consolidating 
Open: 1.2751 
Current Price: 1.2793

Forex Currency: GBP/USD 
News: Market risks climbed yesterday and the greenback rebounded, which drove the pound down.  
Comment: Bullish 
Open:  1.5589 
Current Price: 1.5614

Forex Currency: USD/JPY 
News: On investors’ concern that the Japanese government may intervene the yen appreciation, the yen was suppressed. 
Comment: Consolidating 
Open:  86.18 
Current Price: 85.85

Forex Currency: USD/CAD 
News: A well-known fund manager pointed out that he may add the exposure of the CAD bonds, which strengthened the loonie. 
Comment: Bearish 
Open: 1.0414 
Current Price: 1.0385

Forex Currency: USD/CHF 
News: As global equities fell yesterday, market risk rebounded and the Swiss Franc was underpinned 
Comment: Consolidating 
Open:  1.0509 
Current Price: 1.0493

Forex Currency: AUD/USD
News: As global equities fell yesterday, market risk rebounded and the Aussie was undermined
Comment: Consolidating
Open:  0.8926
Current Price: 0.8927

Forex Currency: NZD/USD 
News: New Zealand’s retail sales rose 0.9% in June and the kiwi was supported  
Comment: Bullish 
Open:  0.7048 
Current Price: 0.7053

Due for release today is the USD TIC Long-Term Purchases and the AUD Monetary Policy Meeting Minutes.

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Aug 12

China’s industrial activity is still slowing

Experiences 1 Comment »

Forex Market Report 14th August 2010

Currency: EUR/USD 
News: Following the Federal Reserve  announced it plans to reinvest the principal payments of maturing mortgage backed securities into the long-term Treasuries.
Comment: Bullish
Open: 1.2844 
Price: 1.2912

Currency:  GBP/USD 
News: U.K. Nationwide Consumer Confidence Index in July fell to 56, which missed the market estimates and suppressed the pound 
Comment:Bullish
Open:1.5640 
Price:1.5703

Currency:  USD/JPY 
News: The Bank of Japan kept its interest rates unchanged and it may not revise down its forecast. Which favored the Yen 
Comment:Consolidating
Open:85.26 
Price:85.41

Currency:  USD/CAD 
News: Yesterday, oil prices and U.S. equities weakened the loonie. 
Comment:Bearish
Open:1.0469 
Price:1.0447

Currency: USD/CHF 
News: Global equities fell and market risks picked up. Which favored the CHF. 
Comment:Consolidating
Open:1.0604 
Price:1.0576

Currency: AUD/USD 
News: As China’s import growth in July slowed to 22.7% year on- year.  
Comment:Bullish
Open:0.8914 
Price: 0.8988
    
Due for release today is the USD Unemployment Claims and NZD Retail Sales m/m.

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Aug 11

IHG profit rise fuelled by business travellers

Experiences 1 Comment »

Forex Market Report 11th August 2010

Currency: EUR/USD 
News: Yesterday, the Federal Reserve  announced its plan to reinvest the principal payments of maturing mortgage backed securities into the long-term Treasuries.
Comment: Bullish
Open: 1.3175 
Current Price: 1.3064

Currency: GBP/USD 
News: U.K. Nationwide Consumer Confidence Index in July fell to 56, which missed the market estimates and suppressed the pound 
Comment:  Bullish
Open: 1.5845
Current Price:  1.5783

Currency: USD/JPY 
News: The Bank of Japan yesterday kept its interest rates unchanged and it may not revise down its forecast. 
Comment:  Consolidating
Open: 85.32 
Current Price:  85.33

Currency: USD/CAD 
News: Yesterday, oil prices and U.S. equities weakened the loonie. 
Comment:  Bearish
Open: 1.0302 
Current Price:  1.0342

Currency: USD/CHF 
News: Global equities fell yesterday and market risks picked up. 
Comment:  Consolidating
Open: 1.0482 
Current Price:  1.0555

Currency: AUD/USD 
News: As China’s import growth in July slowed to 22.7% year on- year.  
Comment:  Bullish
Open: 0.9126
Current Price:  0.9040

Currency: NZD/USD 
News: Global equities fell yesterday and market risks picked up, and therefore the kiwi was undermined. 
Comment:  Bullish
Open: 0.7231 
Current Price: 0.7187

Due for release today is the GBP Claimant Count Change, GBP BOE Gove King Speaks, GBP BOE Inflation Report, CAD Trade Balance and USD Trade Balance.

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Aug 10

German Exports are on the rise

Experiences 1 Comment »

Forex Market Report 10th August 2010

Forex Currency: EUR/USD 
News: As investors are waiting for the Fed’s rate review this week and may have closed out their short positions on the Dollar
Comment: Bullish
Open: 1.3224 
Price: 1.3154

Forex Currency: GBP/USD 
News: U.K.’s RICS housing price survey in July fell to -8% which weakened the pound
Comment: Bullish
Open: 1.5900 
Price:  1.5799

Forex Currency: USD/JPY 
News: Global equities rose yesterday and market risks receded which weakened the YEN 
Comment: Consolidating
Open: 85.92 
Price:  85.91

Forex Currency: USD/CAD 
News: As oil prices and U.S. equities rose yesterday, the loonie was supported.
Comment: Bearish
Open: 1.0272 
1.0304

Forex Currency: USD/CHF 
News: Global equities rose yesterday and market risks receded which weakened the Swiss Franc 
Comment: Consolidating
Open: 1.0486 
Price:  1.0540

Forex Currency: AUD/USD 
News: As investors worry China may release weak economic data this week, the Aussie was weakened.
Comment: Bullish
Open: 0.9158 
Price:  0.9114

Forex Currency: NZD/USD 
News: New Zealand’s housing prices posted the lowest growth since last December.
Comment: Bullish
Open: 0.7284 
Price: 0.7217

Due for release today is the JPY BOJ Press Conference, CAD Housing Starts, USD FOMC Statement, USD Federal Funds Rate and CNY CPI y/y.

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Aug 09

London: Bank looks too bullish on forecasts

Experiences 2 Comments »

Forex Market Report 9th August 2010

Forex Currency: EUR/USD 
News: The ECB left the interest rates unchanged last week, without launching its withdrawal strategies.  
Comment: Bullish
Open: 1.3279 
Price: 1.3282

Forex Currency: GBP/USD 
News: The Bank of England kept the interest rates on hold last week without downsizing  QE. 
Comment: Bullish
Open: 1.5940 
Price: 1.5966

Forex Currency: USD/JPY 
News: Several Japanese officials reiterated the strong yen may hurt the economy, which limited the uptrend . 
Comment: Consolidating
Open: 85.50 
Price: 85.54

Forex Currency: USD/CAD 
News: Investors have first taken profits from the market while holding a wait-and-see approach.  
Comment: Bearish
Open: 1.0263 
Price: 1.0264

Forex Currency: USD/CHF 
News: U.S. equities fell last week while commodity prices retreated, market risks picked up, which strengthened the Swiss franc.  
Comment: Consolidating
Open: 1.0388 
Price: 1.0388

Forex Currency: AUD/USD 
News: U.S. equities fell last week while commodity prices retreated, market risks picked up, which suppressed the Aussie.  
Comment: Bullish
Open: 0.9181 
Price: 0.9185

Forex Currency: NZD/USD 
News: New Zealand’s jobless rate in Q2 unexpectedly rebounded to 6.8%. 
Comment: Bullish
Open: 0.7330
Price: 0.7324

Aug 06

RBA warns retail banks, keep hands off interest rates

Experiences 2 Comments »

Forex Market Report 6th August 2010

Forex Currency: EUR/USD 
News: The ECB left the interest rates unchanged yesterday, without launching its withdrawal strategies, which limited the uptrend of the euro.  
Comment: Bullish
Open: 1.3185 
Price: 1.3189

Forex Currency: GBP/USD 
News: The Bank of England kept the interest rates on hold yesterday without downsizing QE.  
Comment: Bullish
Open: 1.5887 
Price: 1.5895

Forex Currency: USD/JPY 
News: Several Japanese officials reiterated the strong yen may hurt the economy, which limited the uptrend. 
Comment: Consolidating
Open: 85.85 
Price: 86.12

Forex Currency:USD/CAD 
News: Investors have first taken profits from the market while holding a wait-and-see approach for Canada’s employment data tonight. 
Comment: Bearish
Open: 1.0169 
Price: 1.0159

Forex Currency: USD/CHF 
News: U.S. equities fell yesterday while commodity prices retreated,  
Comment: Consolidating
Open: 1.0461 
Price: 1.0479

Forex Currency:AUD/USD 
News: U.S. equities fell yesterday while commodity prices retreated, market risks picked up, which suppressed the Aussie.   
Comment: Bullish
Open: 0.9151 
Price: 0.9163

Forex Currency:NZD/USD 
News: New Zealand’s jobless rate in the second quarter unexpectedly rebounded to 6.8%, the curbed rate hike expectation undermined the kiwi.  
Comment: Bullish
Open: 0.7293 
Price: 0.7285
Due for release today is the GBP Manufacturing Production M/m,  GBP PPI Input m/m, CAD Employment Change, CAD unemployment Rate, USD Non-Farm Employment Change, USD Unemployment Rate and CAD Ivey PMI.

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Aug 03

On growth hopes Sterling surges

Experiences No Comments »

Forex Market Report 3rd August 2010

Forex Currency: EUR/USD 
News: The Eurozone PMI Manufacturing in July rose to 56.7, and the better-than-expected figure supported the euro
Comment: Bullish
Open: 1.3173 
Current Price: 1.3157

Forex Currency:GBP/USD 
News: Britain’s PMI Manufacturing in July fell to 57.3, which was still forecast-beating and therefore supported the pound. 
Comment: Bullish
Open: 1.5887 
Current Price: 1.5870

Forex Currency:USD/JPY 
News: Japan’s Prime Minister Naoto Kan pledged to combat deflation and the yen was thus suppressed. 
Comment: Consolidating
Open: 86.42 
Current Price: 86.43

Forex Currency:USD/CAD 
News: Oil prices soared yesterday and strengthened theloonie 
Comment: Bearish
Open: 1.0235 
Current Price: 1.0250

Forex Currency:USD/CHF 
News: Swiss SVME PMI climbed to 66.9, better than expected, and the Swiss franc was supported.
Comment: Consolidating
Open: 1.0391 
Current Price: 1.0394

Forex Currency:AUD/USD 
News: On speculation that the Reserve Bank of Australia may not raise rates today, the Aussie’s upside was limited. 
Comment: Bullish
Open: 0.9126 
Current Price: 0.9084

Forex Currency:NZD/USD 
News: Global equities and commodity prices rebounded, market risks receded, which was conducive to the kiwi.  
Comment: Bullish
Open: 0.7316
Current Price: 0.7321
Due for release today is US pending home sales and the AUD trade balance.

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Aug 02

Pace of growth in China slows further

Experiences 1 Comment »

Forex Market Report 2nd August 2010

Currency: EUR/USD
News: The Eurozone’s Economic Confidence in July surged to 101.3,beating the market estimates of 99.1, which strengthened the euro.
Comment: Bullish
Open: 1.3050
Current Price: 1.3071

Currency: USD/JPY
News: Japan’s Household Expenses in June unexpectedly rose 0.5%,beating the estimated 0.9% growth, which supported the yen.
Comment: Consolidating
Open: 86.46
Current Price: 86.63

Currency: GBP/USD
News: Last week, an official from the Bank of England reiterated his support on rate hikes as soon as possible, the expection of pound’s rate hike heated up, which underpinned the pound.
Comment: Bullish
Open: 1.5682
Current Price: 1.5751

Currency: USD/CHF
News: Switerzland’s Consumption Index rose to 1.81 in June, beating the 1.712 previously, which supported the swiss franc.
Comment: Consolidating
Open: 1.0409
Current Price: 1.0421

Currency: USD/CAD
News: Canadian Teranet House Price Index rose for a 13th month in May with a 13.6% growth, which supported the loonie
Comment: Bearish
Open: 1.0285
Current Price: 1.0257

Currency: AUD/USD
News: The Reserve Bank of Australia (RBA) will have a rate meeting this week and it may keep the rates on hold, which may limit the upside potential of the Aussie.
Comment: Consolidating
Open: 0.9042
Current Price: 0.9093

Currency: NZD
News: Last week, the Reserve Bank of New Zealand hiked rates by 25bps but expressed its concerns over the economic outlook, and thus the kiwi plunged
Comment: Consolidating
Open: 0.7257
Current Price: 0.7287

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