Sep 08

Commodities drive surge in food inflation

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Foreign Exchange Market Report 8th September 2010

Forex Currency: EUR/USD
News: It was reported that European Union stress tests underestimated some lenders’ holdings of risky government debt, which weakened the euro.
3 month Comment: Consolidating
Open: 1.2682
Price: 1.2728

Forex Currency:GBP/USD
News: As concern on European debt crisis arose, risk aversion picked-up which undermined the pound.
3 month Comment: Bearish
Open: 1.5353
Price: 1.5426

Forex Currency:USD/JPY
News: As global equities retreated and market risk picked-up yesterday, and supported the yen.
3 month Comment: Consolidating
Open: 83.75
Price: 83.56

Forex Currency:USD/CAD
News: As U.S. equities and crude oil prices plunged yesterday, which suppressed the CAD.
3 month Comment: Bearish
Open: 1.0474
Price: 1.0466

Forex Currency:USD/CHF
News: As global equities retreated and market risk picked-up yesterday, and supported the swiss franc.
3 month Comment: Consolidating
Open: 1.0110
Price: 1.0075

Forex Currency:AUD/USD
News: Australia’s Prime Minister Julia Gillard won the election yesterday and decided to pursue a tax on mining companies, which suppressed the Aussie.
3 month Comment: Bullish
Open: 0.9105
Price: 0.9161

Forex Currency:NZD/USD
News: As U.S. equities and crude oil prices plunged yesterday, which suppressed the Kiwi.
3 month Comment: Bullish
Open: 0.7185
Price: 0.7192

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Sep 07

European markets finished higher

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Foreign Exhcange Report 7th September 2010

Forex Currency: EUR/USD
News: As concern European banks will struggle to raise funds, damping the region’s economic outlook, and suppressed the euro.
3 month Comment: Bearish
Open: 1.2875
Price: 1.2808

Forex Currency:GBP/USD
News: Speculation that the Bank of England may increase asset purchases this week, which undermined the pound.
3 month Comment: Bearish
Open: 1.5395
Price: 1.5372

Forex Currency:USD/JPY
News: As global equities rose and market risk receded yesterday, and limited the upside of the yen.
3 month Comment: Consolidating
Open: 84.12
Price: 83.86

Forex Currency:USD/CAD
News: As global equities rose and market risk receded yesterday, and supported the CAD.
3 month Comment: Consolidating
Open: 1.0346
Price: 1.0377

Forex Currency:USD/CHF
News: As global equities rose and market risks receded yesterday, and limited the upside of the swiss franc
3 month Comment: Consolidating
Open: 1.0111
Price: 1.0092

Forex Currency:AUD/USD
News: Speculation that the Reserve Bank of Australia may keep interest rate unchanged, which limited the upside of the Aussie
3 month Comment: Bullish
Open: 0.9163
Price: 0.9143

Forex Currency:NZD/USD
News: Global equities rose and market risks receded yesterday, which supported the NZD.
3 month Comment: Bearish
Open: 0.7211
Price: 0.7225

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Sep 06

European Central Bank kept interest rate unchanged yesterday

Experiences 1 Comment »

Forex Market Report 6th September 2010

Forex Currency: EUR/USD
News: European Central Bank kept interest rate unchanged yesterday, and revised up the economic growth forecast in the after meeting minutes, which supported the euro.
3 month Comment: Bearish
Open: 1.2895
Price: 1.2912

Forex Currency: GBP/USD
News: UK’s PMI construction index unexpectedly fell to 52.1 in August
3 month Comment: Bearish
Open: 1.5445
Price: 1.5477

Forex Currency: USD/JPY
News: As global equities rose and market risk receded yesterday, the yen was undermined.
3 month Comment: Consolidating
Open: 84.29
Price: 84.28

Forex Currency: USD/CAD
News: U.S. stocks and crude oil soared yesterday, which limited the downside of the CAD.
3 month Comment: Consolidating
Open: 1.0391
Price: 1.0377

Forex Currency: USD/CHF
News: As global equities rose and market risks receded yesterday, the Swiss franc was undermined.
3 month Comment: Consolidating
Open: 1.0163
Price: 1.0148

Forex Currency: AUD/USD
News: Australia’s trade surplus narrowed to AUD 1890 million, which limited the upside of the AUD million, which limited the upside of the AUD.
3 month Comment: Bullish
Open: 0.9170
Price: 0.9167

Forex Currency: NZD/USD
News: Global equities rose and market risks receded yesterday, which supported the NZD.
3 month Comment: Bearish
Open: 0.7211
Price: 0.7232

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Sep 03

Australia Reserve Bank satisfied lending rates back to “average”

Experiences 1 Comment »

Forex Market Report 3rd September 2010

Forex Currency: EUR/USD
News: European Central Bank kept interest rate unchanged yesterday, and revised up the economic growth forecast in the after meeting minutes.
3 month Comment: Bearish
Open: 1.2824
Price: 1.2816

Forex Currency: GBP/USD
News: UK’s PMI construction index unexpectedly fell to 52.1 in August
3 month Comment: Bearish
Open: 1.5392
Price: 1.5415

Forex Currency: USD/JPY
News: As global equities rose and market risk receded yesterday, the yen was undermined.
3 month Comment:Consolidating
Open: 84.29
Price: 84.26

Forex Currency: USD/CAD
News: U.S. stocks and crude oil soared yesterday, whichlimited the downside of the CAD.
3 month Comment:Consolidating
Open: 1.0529
Price: 1.0535

Forex Currency: USD/CHF
News: As global equities rose and market risks receded yesterday, the swiss franc was undermined.
3 month Comment:Consolidating
Open: 1.0131
Price: 1.0133

Forex Currency: AUD/USD
News: Australia’s trade surplus narrowed to AUD 1890 million, which limited the upside of the AUD.
3 month Comment:Bullish
Open: 0.9106
Price: 0.9067

Forex Currency: NZD/USD
News: Global equities rose and market risks receded yesterday, which supported the NZD.
3 month Comment:Bearish
Open:0.7146
Price: 0.7136

Due for release today is the GBP Services PMI, USD Non-Farm Employment Change, USD Unemployment Rate and ISM Non-Manufacturing PMI.

Sep 02

Yen weakens against the Euro

Experiences 1 Comment »

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.

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Sep 01

Federal Reserve meeting indicates that quantitative easing is possible

Experiences 2 Comments »

Forex Market Report 1st 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 may have 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 CNY Manufacturing PMI, AUD GDP q/q, USD ADP Non-Farm Employment Change and the USD ISM Manufacturing PMI.

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