News
U.S. Forex Market Commentary
EURO The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.5700 figure and was capped around the $1.5815 level. The common currency gave back much of the gains it had notched over the past three trading days. A retreat in NYMEX July crude oil futures back to [...]
U.S Market Update
- Markets opened slightly higher and gained ground in early trading but were falling back towards unchanged as we head toward the second half of the session. Some of the dark clouds over the US economy remain in focus after the S&P/Case-Shiller home price report showed the largest decline in the history of the index [...]
The Pound was weak today, as markets reacted to the poor U.K housing data
• The Rupee weakened today on persistent dollar purchases by oil companies and other importers to meet their month end dollar demand. The USD/INR pair ended at 42.96 from 42.73 yesterday. • The 6- month and 1-year forward premium was at a 2.40% and 1.75% as compared to 2.07% and 1.55% yesterday. • The Pound [...]
What’s next for the dollar? Will this week’s data support further gains for the greenback?
Another week is starting, with US and UK markets close on Monday due to holiday. The activity in the currency markets was very small, with thin liquidity the main event of the day. EUR/USD consolidated within a 50 points range, hitting 1.5790 high and 1.5740 low as traders were enjoying the day away from their [...]
Yesterday proved to be an unsurprisingly quiet day given the holiday in both the US and UK
Yesterday proved to be an unsurprisingly quiet day given the holiday in both the US and UK. Last week the EUR continued its third consecutive week of gains against the USD however this morning, we saw EUR falter from its one month highs. Weak German consumer sentiment data lead investors to question whether troubles in [...]
Slovakia: NBS keeps interest rates unchanged as expected
As expected the Slovak central bank today kept its key policy rate unchanged at 4.25%. It is now (nearly 100%) clear that Slovakia will join the euro area from January 2009, which means that the Slovak central bank (NBS) will have to bring interest rates down to the level of the ECB at 4.00%. The [...]
Slovakia: NBS keeps rates unchanged
As expected the Slovak central bank today kept its key policy rate unchanged at 4.25%. It is now (nearly 100%) clear that Slovakia will join the euro area from January 2009, which means that the Slovak central bank (NBS) will have to bring interest rates down to the level of the ECB at 4.00%. The [...]
German Consumer Confidence Weakens; French Housing Starts Dive
ECONOMIC DATA ·UK Q2 CBI Consumer Services Optimism: -60% v -48% q/q ·UK Q2 CBI Consumer Selling Prices in the Next 3 Months: 14% v 45% q/q ·GE Q1 Final GDP: Q/Q 1.5% v 1.5%e || Y/Y 2.6% v 2.6%e || Y/Y nsa 1.8% v 1.8%e ·GE Q1 Final Private Consumption: 0.3% v 0. 4%e [...]
May 27, 2008
I still feel well about being long the Australian and the New Zealand dollar against the US currency, as a matter of fact I have just doubled my AUD/USD bet across my trading accounts. The way buyers seem to be slowly taking over in the Japanese yen crosses is also catching my attention. Except for [...]
Daily Forex Overview
Previous session overview The markets are back to full strength Tuesday with both the UK and U.S. returning from a long weekend. Europe finds the major currencies little changed from levels late Friday. On Monday, the dollar was confined to extremely narrow trading ranges against its major rivals. On Monday, EURUSD trading took a calm [...]
