Sep 30

China PMI manufacturing rose to 52.9 in September

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Forex Market Report 30th September 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:1.3621
Price:1.3584

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:1.5806
Price:1.5833

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:83.72
Price:83.30

Forex Currency:USD/CAD
News:As U.S. equities retreated yesterday, risk aversion picked-up and undermined the Loonie.
3 month Comment:Bearish
Open:1.0324
Price:1.0324

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:0.9772
Price:0.9781

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:0.9681
Price:0.9680

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.
3 month Comment:Consolidating
Open:0.7353
Price:0.7368

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Sep 28

Offshore wind farms will need subsidies for 15 years, says study

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Forex Market Report 28th September 2010

Forex Currency:EUR/USD
News:Moody’s yesterday cut an Irish bank’s debt rating and the Euro was dragged down.
3 month Comment:Bullish
Open:1.3438
Price:1.3395

Forex Currency:GBP/USD
News:The pound’s upside was capped as U.K. Hometrack housing price index fell 0.4% in September.
3 month Comment:Bearish
Open:1.5806
Price:1.5793

Forex Currency:USD/JPY
News:As global equities fell yesterday, market risks rose and the yen was supported.
3 month Comment:Consolidating
Open:84.27
Price:84.20

Forex Currency:USD/CAD
News:Canada finance minister was concerned about the U.S. economic outlook and the Loonie was suppressed.
3 month Comment:Bearish
Open:1.0299
Price:1.0345

Forex Currency:USD/CHF
News:As global equities fell yesterday, market risks rose and the swiss franc was supported.
3 month Comment:Bearish
Open:0.9860
Price:0.9859

Forex Currency:AUD/USD
News:As global equities fell yesterday, market risks rose and the Aussie’s upside was capped.
3 month Comment:Bullish
Open:0.9602
Price:0.9590

Forex Currency:NZD/USD
News:As global equities fell yesterday, market risks rose and the Kiwi’s upside was capped.
3 month Comment:Consolidating
Open:0.7339
Price:0.7321

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Sep 27

Cash-conscious French say ‘au revoir’ to the long lunch

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Forex Market Report 27th September 2010

Forex Currency:EUR/USD
News:Euro-zone’s PMI Manufacturing fell to 53.6 in September, worse than estimates, which limited the uptrend of EUR.
3 month Comment:Bullish
Open:1.3487
Price:1.3467

Forex Currency:GBP/USD
News:The disappointing economic figures of Euro -zone and Ireland triggered liquidity inflow from the Euro to pound, which supported the GBP yesterday.
3 month Comment:Bearish
Open:1.5819
Price:1.5819

Forex Currency:USD/JPY
News:As global equities fell yesterday, market risks rose and the yen was supported..
3 month Comment:Consolidating
Open:84.25
Price:84.24

Forex Currency:USD/CAD
News:The rebound of crude oil yesterday supported the Loonie.
3 month Comment:Bearish
Open:1.0243
Price:1.0241

Forex Currency:USD/CHF
News:As global equities fell yesterday, market risks rose and the swiss franc was supported.
3 month Comment:Bearish
Open:0.9827
Price:0.9863

Forex Currency:AUD/USD
News:As global equities fell yesterday, market risks rose and the Aussie was suppressed.
3 month Comment:Bullish
Open:0.9493
Price:0.9590

Forex Currency:NZD/USD
News:New Zealand’s GDP in the second quarter missed the estimates and rose 0.2% only, which undermined the Kiwi.
3 month Comment:Consolidating
Open:0.7342
Price:0.7334

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Sep 24

Euro -zone and Ireland triggered liquidity inflow from the Euro to pound

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Forex Market Report

Forex Currency:EUR/USD
News:Euro-zone’s PMI Manufacturing fell to 53.6 in September, worse than estimates, which limited the uptrend of EUR.
3 month Comment:Bullish
Open:1.3313
Price:1.3337

Forex Currency:GBP/USD
News:The disappointing economic figures of Euro -zone and Ireland triggered liquidity inflow from the Euro to pound, which supported the GBP yesterday.
3 month Comment:Bearish
Open:1.5681
Price:1.5677

Forex Currency:USD/JPY
News:As global equities fell yesterday, market risks rose and the yen was supported..
3 month Comment:Consolidating
Open:84.40
Price:84.84

Forex Currency:USD/CAD
News:The rebound of crude oil yesterday supported the Loonie.
3 month Comment:Bearish
Open:1.0342
Price:1.0313

Forex Currency:USD/CHF
News:As global equities fell yesterday, market risks rose and the swiss franc was supported.
3 month Comment:Bearish
Open:0.9854
Price:0.9837

Forex Currency:AUD/USD
News:As global equities fell yesterday, market risks rose and the Aussie was suppressed.
3 month Comment:Bullish
Open:0.9491
Price:0.9510

Forex Currency:NZD/USD
News:New Zealand’s GDP in the second quarter missed the estimates and rose 0.2% only, which undermined the Kiwi.
3 month Comment:Consolidating
Open:0.7283
Price:0.7296

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Sep 13

BAE in $2 billion sell-off as downturn bites

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Forex Market Report 13th September 2010

Forex Currency:EUR/USD
News: European Central Bank chief economist Juergen Stark said that German banks may need more capital, which suppressed the euro.
3 month Comment:Consolidating
Open:1.2675
Price:1.2820

Forex Currency:GBP/USD
News: The U.K.’s trade deficit widened to a record 8.7 billion pounds in July, which undermined the pound.
3 month Comment:Consolidating
Open:1.5348
Price:1.5466

Forex Currency:USD/JPY
News: As global equities surged yesterday, market risk receded and limited the upside of the yen.
3 month Comment:Bearish
Open:84.16
Price:83.90

Forex Currency:USD/CAD
News: Canada’s trade deficit widened to C$2.74 billion in July, which limited the upside of the CAD.
3 month Comment:Bearish
Open:1.0371
Price:1.0315

Forex Currency:USD/CHF
News: As global equities surged yesterday, market risk receded and limited the upside of the swiss franc.
3 month Comment:Bearish
Open:1.0193
Price:1.0127

Forex Currency:AUD/USD
As Australian employers added 30,900 jobs in August, and the unemployment rate down to 5.1%, which supported the AUD.
3 month Comment:Bullish
Open:0.9264
Price:0.9316

Forex Currency:NZD/USD
As U.S. equities surged yesterday, risk appetite picked-up and supported the NZD.
3 month Comment:Bullish
Open:0.7286
Price:0.7315

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Aug 10

German Exports are on the rise

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Forex Market Report 10th August 2010

Forex Currency: EUR/USD 
News: As investors are waiting for the Fed’s rate review this week and may have closed out their short positions on the Dollar
Comment: Bullish
Open: 1.3224 
Price: 1.3154

Forex Currency: GBP/USD 
News: U.K.’s RICS housing price survey in July fell to -8% which weakened the pound
Comment: Bullish
Open: 1.5900 
Price:  1.5799

Forex Currency: USD/JPY 
News: Global equities rose yesterday and market risks receded which weakened the YEN 
Comment: Consolidating
Open: 85.92 
Price:  85.91

Forex Currency: USD/CAD 
News: As oil prices and U.S. equities rose yesterday, the loonie was supported.
Comment: Bearish
Open: 1.0272 
1.0304

Forex Currency: USD/CHF 
News: Global equities rose yesterday and market risks receded which weakened the Swiss Franc 
Comment: Consolidating
Open: 1.0486 
Price:  1.0540

Forex Currency: AUD/USD 
News: As investors worry China may release weak economic data this week, the Aussie was weakened.
Comment: Bullish
Open: 0.9158 
Price:  0.9114

Forex Currency: NZD/USD 
News: New Zealand’s housing prices posted the lowest growth since last December.
Comment: Bullish
Open: 0.7284 
Price: 0.7217

Due for release today is the JPY BOJ Press Conference, CAD Housing Starts, USD FOMC Statement, USD Federal Funds Rate and CNY CPI y/y.

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Aug 02

Pace of growth in China slows further

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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

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Jul 26

Seven out of 91 banks fail stress tests

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Forex Market Report 26th July 2010

Currency: EUR/USD
News: German service PMI rose from 54.8 to 57.3 in July, the highest in almost three years, which supported the euro.
Comment: Bullish
Open: 1.2902
Current Price: 1.2939

Currency: USD/JPY
News: As global equities and oil prices surged yesterday, risk appetite picked-up and limited the upside of the Japanese yen.
Comment: Bearish
Open: 87.41
Current Price: 87.37

Currency: GBP/USD
News: U.K. retail sales climbed 0.7% (M/M) in June, topped market estimates, and supported the pound.
Comment: Consolidating
Open: 1.5417
Current Price: 1.5472

Currency: USD/CHF
News: As global equities and oil prices surged, market risk picked-up and supported the Swiss franc.
Comment: Consolidating
Open: 1.0545
Current Price: 1.0517

Currency: USD/CAD
News: Canada retail sales unexpectedly dropped 0.2% (M/M) in May, trailed market estimates, which limited the upside of the Canadian dollar.
Comment: Bearish
Open: 1.0357
Current Price: 1.0350

Currency: AUD/USD
News: As U.S. corporate earnings results were better-than expected, risk appetite picked-up and favored the high-yielders like Aussie.
Comment:Consolidating AUD
Open: 0.8952
Current Price: 0.8980

Currency: NZD
News: As speculation the Reserve Bank of New Zealand may hike rate by 25 bps in next Thursday, spurred interest rate expectation and supported the Kiwi.
Comment: Consolidating
Open: 0.7273
Current Price: 0.7294

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