Daily Recap and a day ahead | 17 Oct 2007 04:08

Research > Forex - Technical research Wednesday, 17 October 2007, 04:08 GMT GCI Forex Research FX Research Desk GCI Financial
Daily Recap and a day ahead

Previous Day’s Trading Range

High Low High Low

EUR/ USD 1.4225 1.4143
GBP/JPY 240.01 236.62
USD/ JPY 117.45 116.44
CHF/JPY 99.53 98.37
GBP/ USD 2.0437 2.0294
EUR/GBP 0.6976 0.6950
USD/ CHF 1.1844 1.1786
EUR/CHF 1.6786 1.6738
AUD/ USD 0.9011 0.8821
GBP/CHF 2.4133 2.4006
USD/CAD 0.9814 0.9743
NZD/USD 0.7647 0.7393
EUR/JPY 166.95 164.85
Gold/USD 767.05 753.75
Silver/USD 13.97 13.57
Crude Oil 88.14 86.13

Daily Recap

Oil rockets and absorbs resistance levels; eyes $90 on Turkish unrest

Bernanke notes Fed “did more sooner;” no clues on 30-31 FOMC

U.S. August total TICS at -$163 billion; subprime crisis zapped foreign demand

JPY crosses sharply lower on growing risk aversion and Ericsson earnings

U.K. CPI at 30-month low at 1.8%; November MPC cut?

CHF holds ground on growing risk aversion: safe haven flows

BoC keeps rates at 4.50%; loonie’s strength could slow economy

Day Ahead

Upside oil risk if Turkish parliament approves force against Iraqi Kurds
G7 officials may articulate FX position ahead of Friday’s communique
Strong Japanese numbers overnight could see more short JPY carry trade unwinds
BoE MPC minutes could be GBP –ve if divergent from King’s hawkishness
U.S. core CPI below 2.0% should prompt USD offers
Fed Beige Book likely to highlight economic uncertainty

Chart to Watch

GBP/USD Daily high of 2.0437 right at 76.4% retracement of 2.0493-2.0245 range and break below 2.0294 (2) opens up 2.0259/ 2.0186.

GMT:
13:55

London:
13:55

Tokyo:
21:55

Sydney:
22:55

New York:
08:55

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Wednesday, 19 November 2008, 04:01 GMT
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The euro moved marginally lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2570 level and was capped around the $1.2685 level. Traders are closely watching congressional testimony from Federal Reserve Chairman Bernanke and Treasury Secretary Paulson today.

Monday, 17 November 2008, 01:19 GMT
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The euro depreciated vis-à-vis the U.S. dollar last week as the single currency tested bids around the $1.2385 level and was capped around the $1.2925 level. The pair lost about 115 pips last week. The U.

Sunday, 16 November 2008, 00:56 GMT
Research > Forex - Fundamental research
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The euro moved lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2705 level and was capped around the $1.2825 level. Traders are wondering what news may emerge at this weekend’s Group of Twenty meeting in Washington, D.

Thursday, 13 November 2008, 01:24 GMT
Research > Forex - Fundamental research
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The euro moved higher vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2605 level and was supported around the $1.2475 level. The U.S. dollar went on a tear yesterday after NYMEX crude oil futures for December delivery fell below the $60 level per barrel.

Wednesday, 12 November 2008, 01:34 GMT
Research > Forex - Fundamental research
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The euro moved lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2675 level and was capped around the $1.2800 figure. Traders are deliberating the likelihood of additional monetary easing from both the European Central Bank and Federal Reserve before the end of the year and again in Q1 2009.

Monday, 10 November 2008, 02:28 GMT
Research > Forex - Technical research
Weekly market recap

The euro appreciated vis-à-vis the U.S. dollar last week as the single currency tested offers around the $1.3115 level and was supported around the $1.2525 level. The pair gained about 15 pips last week.

in other categories

Tuesday, 18 November 2008, 06:29 GMT
Research > Forex - Trading signals, forecasts and strategy
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November 18, 2008 GMT 06:07 EUR/USD Today’s support: - 1.2577, 1.2532, 1.2490 and 1.2476(main), where correction is possible. Break would give 1.2453, where correction also may be.

Monday, 17 November 2008, 08:12 GMT
Research > Forex - Trading signals, forecasts and strategy
Forex and Dow Jones recommended levels
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November 17, 2008 GMT 08:03 EUR/USD Today’s support: - 1.2490 and 1.2476(main), where correction is possible. Break would give 1.2453, where correction also may be. Then follows 1.

Friday, 14 November 2008, 05:04 GMT
Research > Forex - Trading signals, forecasts and strategy
Forex and Dow Jones recommended levels
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November 14, 2008 GMT 04:56 EUR/USD Today’s support: - 1.2679 and 1.2642(main), where correction is possible. Break would give 1.2624, where correction also may be. Then follows 1.

Thursday, 13 November 2008, 16:26 GMT
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FXCM news

FXCM (http://www.fxcm.com?CMP=PR-TradeCurrencies) joins CNBC.com for the second time as the exclusive currency trading sponsor in the CNBC.com Million Dollar Portfolio Challenge.

Thursday, 13 November 2008, 06:27 GMT
Research > Forex - Trading signals, forecasts and strategy
Forex and Dow Jones recommended levels
Technical Trading

November 13, 2008 GMT 06:20 EUR/USD Today’s support: - 1.2418(main), where correction is possible. Break would give 1.2394, where correction also may be. Then follows 1.2380.

Wednesday, 12 November 2008, 07:25 GMT
Research > Forex - Trading signals, forecasts and strategy
Forex and Dow Jones recommended levels
Technical Trading

November 12, 2008 GMT 07:21 EUR/USD Today’s support: - 1.2540 and 1.2463 (main), where correction is possible. Break would give 1.2421, where correction also may be. Then follows 1.

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