Forex Market Report 2nd August 2010
Currency: EUR/USD
News: The Eurozone’s Economic Confidence in July surged to 101.3,beating the market estimates of 99.1, which strengthened the euro.
Comment: Bullish
Open: 1.3050
Current Price: 1.3071
Currency: USD/JPY
News: Japan’s Household Expenses in June unexpectedly rose 0.5%,beating the estimated 0.9% growth, which supported the yen.
Comment: Consolidating
Open: 86.46
Current Price: 86.63
Currency: GBP/USD
News: Last week, an official from the Bank of England reiterated his support on rate hikes as soon as possible, the expection of pound’s rate hike heated up, which underpinned the pound.
Comment: Bullish
Open: 1.5682
Current Price: 1.5751
Currency: USD/CHF
News: Switerzland’s Consumption Index rose to 1.81 in June, beating the 1.712 previously, which supported the swiss franc.
Comment: Consolidating
Open: 1.0409
Current Price: 1.0421
Currency: USD/CAD
News: Canadian Teranet House Price Index rose for a 13th month in May with a 13.6% growth, which supported the loonie
Comment: Bearish
Open: 1.0285
Current Price: 1.0257
Currency: AUD/USD
News: The Reserve Bank of Australia (RBA) will have a rate meeting this week and it may keep the rates on hold, which may limit the upside potential of the Aussie.
Comment: Consolidating
Open: 0.9042
Current Price: 0.9093
Currency: NZD
News: Last week, the Reserve Bank of New Zealand hiked rates by 25bps but expressed its concerns over the economic outlook, and thus the kiwi plunged
Comment: Consolidating
Open: 0.7257
Current Price: 0.7287
