Sep 08

Commodities drive surge in food inflation

Experiences No Comments »

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

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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”

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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 No Comments »

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

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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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Aug 27

Selling prices accelerate at a record pace

Experiences No Comments »

Forex Market Report 27th August 2010

Forex Currency: EUR/USD
News: Investors are waiting for the speech by U.S. Federal Reserve Ben Bernanke tonight, which limited the upside of the euro.
3 month Comment: Bearish
Open: 1.2713
Price: 1.2718

Forex Currency:GBP/USD
News: As speculation that the poor U.S. economic data may force the FED
3 month Comment: Bearish
Open: 1.5522
Price: 1.5501

Forex Currency:USD/JPY
News: Japan’s core CPI fell 1.1% in July, rising concern on deflationary risk , market risk picked-up and sending the yen higher.
3 month Comment: Consolidating
Open: 84.46
Price: 84.71

Forex Currency:USD/CAD
News: Crude oil prices surged more than 1% yesterday, which strengthened the Loonie
3 month Comment: Bullish
Open: 1.0572
Price: 1.0578

Forex Currency:USD/CHF
News: U.S. equities declined yesterday and market risks climbed, which supported the swiss franc.
3 month Comment: Consolidating
Open: 1.0238
Price: 1.0244

Forex Currency:AUD/USD
News: Australia’s private capital expenditure dropped 4% in the second quarter, trailed market estimates, which limited the upside of the Aussie.
3 month Comment: Bearish
Open: 0.8861
Price: 0.8862

Forex Currency:NZD/USD
News: New Zealand’s prime minster stated that exports may support the economic recovery.
3 month Comment:bearish
Open: 0.7031
Price: 0.7038

Due for release today is the GBP Revised GDP q/q, CHF KOF Economic Barometer, USD Prelim GDOP q/q and the USD Fed Chairman Bernanke Speaks.

Aug 26

Russia’s auto market picks up speed

Experiences No Comments »

Forex Market Report 26th August 2010

Forex Currency: EUR/USD 
News: German IFO business climate unexpectedly rose to 106.7 in August.  
3 month Comment: Bearish 
Open: 1.2702
Price: 1.2696

Forex Currency: GBP/USD 
News: After Ireland’s credit rating was cut, liquidity flow from Euro Zone to U.K., which supported the pound. 
3 month Comment: Bearish 
Open: 1.5562 
Price: 1.5558

Forex Currency: USD/JPY 
News: Japanese Finance Minister Yoshihiko Noda repeated he would respond to yen moves when necessary, which suppressed the yen. 
3 month Comment: Consolidating 
Open: 84.70 
Price: 84.69

Forex Currency: USD/CAD 
News: U.S. equities and crude oil prices rose yesterday, which supported the Loonie.  
3 month Comment: Bullish 
Open: 1.0564
Price: 1.0576

Forex Currency: USD/CHF 
News: Global equities declined yesterday and market risks climbed, which supported the swiss franc. 
3 month Comment: Consolidating 
Open: 1.0304 
Price: 1.0304

Forex Currency: AUD/USD
News: Australia’s conference board leading index rose 0.1% in June, trailed market estimates, which limited the upside of the Aussie.
3 month Comment: Bearish
Open: 0.8862
Price: 0.8865

Forex Currency: NZD/USD
News: U.S. equities and crude oil prices rose yesterday, risk appetite picked-up and supported the Kiwi.
3 month Comment: Bearish
Open: 0.7031
Price: 0.7032

Due for release today is the AUD Private Capital Expenditure q/q and the USD Unemployment Claims.

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Aug 24

City dismisses fears of 8% rates

Experiences No Comments »

Forex Market Report 24th August 2010

Forex Currency: EUR/USD 
News: In July, European PMI composite declined to 56.1 from 56.7. 
3 month Comment: Bearish 
Open: 1.2645 
Price: 1.2643

Forex Currency: GBP/USD 
News: As speculation U.K. aggressive budget deficit cut may dampen the economic growth, suppressed the pound 
3 month Comment: Bearish 
Open: 1.5500 
Price: 1.5408

Forex Currency: USD/JPY 
News: As Japanese government and its central bank did not discuss the yen appreciation in the meeting, sending the yen higher. 
3 month Comment: Consolidating 
Open: 85.10 
Price: 84.90

Forex Currency: USD/CAD 
News: As crude oil and the U.S. equities kept declining yesterday, the Loonie was suppressed.  
3 month Comment: Bullish 
Open: 1.0518 
Price: 1.0571

Forex Currency: USD/CHF 
News: Global equities declined and market risks climbed, which supported the Swiss franc. 
3 month Comment: Consolidating 
Open: 1.0409 
Price: 1.0412

Forex Currency: AUD/USD
News: As Australia formed a hung parliament in the Australia’s election, the Aussie was undermined
3 month Comment: Bearish
Open: 0.8905
Price: 0.8873

Forex Currency: NZD/USD
News: Global equities declined yesterday and market risks climbed, which suppressed the kiwi
3 month Comment: Bearish
Open: 0.7057
Price: 0.7031

Due for release today is the NZD Inflation Expectations q/q, CAD Core Retail Sales m/m and Existing Home Sales.

Aug 23

Stocks Slide on Fears of Slowing Recovery

Experiences No Comments »

Forex Market Report 23rd August 2010

Forex Currency: EUR/USD 
News: Several US economic figures missed market estimates last week and the rising market risks suppressed the Euro.  
3 month Comment: Bearish
Open:1.2705 
Price: 1.2727

Forex Currency: GBP/USD 
News: UK retail sales rose 1.1% in July and the forecast beating figure boosted the pound 
3 month Comment: Consolidating
Open: 1.5530 
Price: 1.5590

Forex Currency: USD/JPY 
News: Global equities retreated and market risks climbed, which favored the yen. 
3 month Comment: Consolidating
Open: 85.56 
Price: 85.36

Forex Currency: USD/CAD 
News: As crude oil and the U.S. equities kept declining the Loonie was suppressed. 
3 month Comment:Consolidating
Open: 1.0459 
Price: 1.0469

Forex Currency: USD/CHF 
News: Global equities declined and market risks climbed, which supported the Swiss franc. 
3 month Comment: Consolidating
Open: 1.0335 
Price: 1.0327

 Forex Currency: AUD/USD
News: The emergence of a hung parliament in  Australia’s election, the Aussie was undermined 
3 month Comment: Bearish
Open: 0.8940
Price: 0.8917

Forex Currency: NZD/USD
News: Global equities declined and market risks climbed which suppressed the kiwi
3 month Comment: Bearish
Open: 0.7063
Price: 0.7061

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