Forex Market Report 7th October 2010
Forex Currency:EUR/USD
News: European economic confidence outlook unexpectedly rose to 103.2 in September, which underpinned the euro.
3 month comment: Bullish
Open: 1.3925
Price: 1.3989
Forex Currency:GBP/USD
News: U.S. mortgage approval dropped to 47,400 in August, less than expected, which suppressed the pound.
3 month comment: Consolidating
Open: 1.5882
Price: 1.5896
Forex Currency:USD/JPY
News: The yen was supported on investors’ rising expectation the Federal Reserve may expand the quantitative easing measures.
3 month comment: Bearish
Open: 82.91
Price: 82.29
Forex Currency:USD/CAD
News: As U.S. equities retreated yesterday, risk aversion picked-up and undermined the Loonie.
3 month comment: Bearish
Open: 1.0108
Price: 1.0084
Forex Currency:USD/CHF
News: KOF swiss leading indicator slightly dropped to 2.21 in September and the swiss franc’s upside was capped.
3 month comment: Bearish
Open: 0.9617
Price: 0.9560
Forex Currency:AUD/USD
News: China PMI manufacturing rose to 52.9 in September, a second straight month rise, which supported Aussie.
3 month comment: Bullish
Open: 0.9768
Price: 0.9895
Forex Currency:NZD/USD
News: New Zealand’s home-building approvals slumped 17.8% to a 13-month low in August, which suppressed the Kiwi.
Consolidating
Open: 0.7513
Price: 0.7569
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