Forex Report 2nd March 2011
Forex Currency: EUR/USD
News: As European Central Bank President Trichet reiterated his inflation concern yesterday, the Euro was supported.
3 month Comment: Bullish
Open:1.3775
Price: 1.3813
Forex Currency: GBP/USD
News: The Pound was supported as the Bank of England’s previous rate minutes showed three members were in favor of rate hike.
3 month Comment: Consolidating
Open: 1.6263
Price: 1.6289
Forex Currency: USD/JPY
News: Market risk picked-up amid escalating violence in Middle East, prompted lquidity flew to yen as a safe hav-en and supported the yen.
3 month Comment: Consolidating
Open: 81.83
Price: 82.01
Forex Currency: USD/CAD
News: The Loonie was strengthened as crude oil surged
3 months Comment: Consolidating
Open :0.9745
Price: 0.9738
Forex Currency: USD/CHF
News: Market risk picked-up amid escalating violence in Middle East, prompted liquidity flew to swiss franc as a safe haven and supported the swiss franc.
3 month Comment: Consolidating
Open: 0.9283
Price: 0.9265
Forex Currency: AUD/USD
News:The Aussie was supported as Australia’s leading index rose 0.7% in December.
3 month Comment: Bullish
Open: 1.0131
Price: 1.0137
Forex Currency: NZD/USD
News: The Kiwi underperformed on expectation that the Reserve Bank of New Zealand may cut the interest rate.
3 month Comment: Consolidating
Open: 0.7469
Price :0.7409
