Forex Blog by Greg Secker

Forex Market Report 30th July 2010

Currency: EUR/USD
News: The U.S. Federal Reserve released the latest Beige Book, expressing concerns over the economic conditions. Market risks picked-up, which undermined the euro.
Comment: Bullish
Open: 1.3080
Current Price: 1.3070

Currency: USD/JPY
News: As U.S. equities retreated yesterday, the risk appetite receded and limited the downside of the yen.
Comment: Consolidating
Open: 86.88
Current Price: 86.44

Currency: GBP/USD
News: The Bank of England Governor yesterday said the rates will stay low for a considerable time to come, triggering the pound to fall from its high.
Comment: Consolidating
Open: 1.5609
Current Price: 1.5614

Currency: USD/CHF
News: As U.S. equities retreated yesterday, the risk appetite receded and limited the downside of the Swiss franc
Comment: Consolidating
Open: 1.0411
Current Price: 1.0410

Currency: USD/CAD
News: The Loonie fell as crude oil prices retreated yesterday.
Comment: Bearish
Open: 1.0356
Current Price: 1.0358

Currency: AUD/USD
News: Australia’s second-quarter consumer price index only rose 0.6%, missed the market estimates and curbed the rate hike expectation, which weakened the Aussie.
Comment: Bullish
Open: 0.9007
Current Price: 0.9010

Currency: NZD
News: The Reserve Bank of New Zealand raised the rate by 25 bps, but its post-meeting statement showed its concern over the economic growth, which underminedthe kiwi.
Comment: Bullish
Open: 0.7239
Current Price: 0.7235