Forex Market Report 2nd September 2010
Forex Currency: EUR/USD
News: Germany’s jobless population in August fell 17,000 and the improved job market limited the Euro’s downside
3 month Comment: Bearish
Open: 1.2689
Price: 1.2717
Forex Currency: GBP/USD
News: U.K money supply in July only rose 0.4% and investors concerned the Britain’s credit market mayhave slow recovery, which suppressed the pound.
3 month Comment: Bearish
Open: 1.5349
Price: 1.5402
Forex Currency: USD/JPY
News: As the Bank of Japan has no intervention on the yen strength, the yen bounced back.
3 month Comment: Consolidating
Open: 84.17
Price: 84.43
Forex Currency: USD/CAD
News: Canada posted a worse-than-expected 2% (YoY) GDP growth in the second quarter, which suppressed the Canadian dollar
3 month Comment: Bullish
Open: 1.0643
Price: 1.0619
Forex Currency: USD/CHF
News: As U.S. equities plunged yesterday and market risks climbed, which supported the swiss franc.
3 month Comment: Consolidating
Open: 1.0142
Price: 1.0158
Forex Currency: AUD/USD
News: Australia’s retail sales posted a forecast-beating 0.7% in July, which brought a backdrop to the Australian dollar.
3 month Comment: Bearish
Open: 0.8924
Price: 0.8995
Forex Currency: NZD/USD
News: New Zealand’s housing permits in July grew 3.1%, which eased the Kiwi’s downside.
3 month Comment: Bearish
Open: 0.6992
Price: 0.7027
Due for release today is the AUD Trade Balance, GBP Nationwide HPI m/m, CHF Retail Sales y/y, EUR Minimum Bid Rate, EUR ECB Press Conference, USD Unemployment Claims, USD Fed Chairman Bernanke Testifies and USD Pending Home Sales.
