US Dollar: Selectivity Remains the KeyEuro: Trichet's Hawkish Comments Put to the TestBritish Pound: Busy Week Ahead
US Dollar: Selectivity Remains the KeyThe US dollar has satisfied both bulls and bears this week depending upon the currency pair in question. In last Friday's Daily Fundamentals, we said that “although we expect [full report]
USD/JPY 103.06 - 9 May
USD/JPY Open 105.34 High 104.89 Low 102.82 Close 103.69The downward trend of Japanese Yen against the US Dollar continued and the currency couple reached today 102.80, which is the first support for today. Next support downwards is expected 102.00, followed by 101.30. In upward direction resistance [full report]
Before ECB President Jean Claude Trichet would cross the wires with his persistently hawkish outlook for monetary policy, the euro was on the retreat across the board Thursday morning. [full report]
EUR/USDUSD/JPY, GBP/USDDaily Analysis09 May 2008Current level-1.5442The pair is in a downtrend from the short-term top at 1.6019. Technical indicators on the 4 h. chart are falling convergent. After breaking [full report]
EUROThe European currency moved back to the upside, not finishing the 50% retracement it was supposed to do yesterday, and climbed back again above the 1.5420 level which might give it a push to climb again to 1.5500, yet we need to see a breach to the 1.5465 level in [full report]
The Asia session ended the week with the Euro bouncing back and crude oil hitting new record highs. After yesterday's decision to keep rates unchanged, ECB president Trichet kept up his hawkish tone in the following press conference, quelling any talk of near term rate cuts. Add to the mix [full report]
The dollar rallied versus the European currencies but sank versus the yen. The US currency should edge lower today, but the overall risk in on the upside.
Euro/dollar Euro/dollar sank to a two-month low on Thursday before recovering to close flat. There is a risk of an intermediary bullish reversal [full report]
Hawkish Outlook From ECB's Trichet Turns The Euro From Early LossesDollar Tests Two Month Highs As Sales Activity ImprovesCommodity Currencies Encounter Heavy Event Risk From Employment Reports
Dollar Tests Two Month Highs As Sales Activity ImprovesThe relative quiet of the economic docket has proven to be a boon for the dollar's [full report]
The dollar fell against most major currencies on Friday but pared some of its losses after a government report showed the US trade deficit narrowed more than forecast. The yen and Swiss franc benefited from increased risk aversion, as credit-market losses by America international Group Inc. spurred investors to sell [full report]
US Dollar Consolidates As Oil Tops $126The US dollar was mixed as raging oil prices above $126/bbl pressed on investors, but led the Canadian dollar to pick up the biggest gains. The Australian and New Zealand dollar however, depreciated the most against the US dollar, sparked by a rise in [full report]
Dollar Sentiment Beings to Wan Following Trichet's Comments Yesterday
ECONOMIC DATA GE Apr Wholesale Price Index: M/M 0.6% v 0.5%e || Y/Y 6.9% v 6.7%eFR Mar Industrial Production: M/M -0.8% v -0.4%e || Prior revised from 0.3% to 0.5% |||| Y/Y 1.0% v 1.6%e || Prior revised from 2.0% to [full report]
The Dollar edged lower against Euro and Yen on Tuesday, its second straight daily decline, after a bigger-than-expected quarterly loss at Fannie Mae suggested more financial market turmoil ahead. Analysts said that was worrisome for the Dollar because it suggested problems in the troubled US housing sector have yet to [full report]
Euro looking to rally against distant yen!
The euro held firm against the dollar on Friday after rebounding from a two-month low on reduced expectations for European Central Bank rate cuts.
ECB President Jean-Claude Trichet said on Thursday that inflation remained his top concern, suggesting the bank won't cut interest rates any [full report]
The yen enjoyed a broad advance across the FX market today as investors trimmed back their risk-taking ahead of the week?s close. Looking ahead to Friday, we will receive the only piece of Japanese data scheduled for release through this holiday-shortened week. [full report]
Eurozone interest rates have been left unchanged as the region's central bank keeps up its battle against inflation even as the economy slows [full report]
EUR/USD fall was contained at 1.5284 today. Subsequent recovery and break of 1.5410 minor resistance indicates that an intraday bottom is in place and turns outlook neutral first. Further consolidation could be seen but still, another fall is expected as long as EUR/USD stays below 1.5594 resistance. Below 1.5283 again... [full report]
CHF
The assumed test of the key support range has been confirmed but the relative rise of bearish activity revealed by OsMA indicator did not dispose to immediate realization of the pre-planned buyers' positions. At present taking into account the existent minimal advantage of bearish party as well as reversal bullish [full report]
Cable's consolidation from 1.9502 continues in US session. An intraday low is in place and outlook remains neutral for the moment. Further consolidation could still be seen, but upside should be limited below 1.9772 resistance and bring fall resumption. As discussed before, prior break of 1.9599 support indicates that whole... [full report]
GBP/JPYThe Pound continued to decline against the Yen throughout this morning after dropping yesterday, the pair managed to breach the 38.2% correctional level at 202.68 and now seems to be heading towards the 200.77 support level which represents the 50% correctional level and offers strong support for the pair, while [full report]
Euro: Euro traded within 157 pips as it touched an intraday high of 1.5441 as Trichet suggested that ECB does not find any need to cut rates, before finally closing almost on par with the opening level of 1.5390. All the stochastics show selling pressure and Euro is currently trading [full report]
EURUSD
While medium term sentiment remains bearish, positive momentum is building up on the intra-day studies. The minor resistance at 1.5440 formed by the 50% retracement of the 1.5590-1.5283 move has just been broken and this should favor further gains towards the 1.55 zone. Current quote is 1.5457 @06:08 GMT
Support levels: [full report]
EUR/USD (1.5416)European & US sessions forecast levels: 1.5320/1.5505Trend Sessions: European: Neutral/UpwardUS: NeutralMarket Focus: 8:30 AM Trade Balance, 2:45 AM French Industrial Production. Daily Strategy: The dollar is again under pressure. The Fed confirm that the last interest rates cut is last and Fed will hold the key benchmark interest rates [full report]
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