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Monday,
05 May 2008,
02:43 GMT
Research
>
Forex - Technical research
FX Research Desk
Weekly market recap, week ahed
The euro depreciated vis-à-vis the U.S. dollar last week as the single currency tested bids around the $1.5360 level and was capped around the $1.5695 level. The pair lost about 215 pips last week. The FOMC reduced the fed funds target rate by 25bps to 2.00% and said inflation pressures are picking up. Traders increasingly believe the U.S. economy has turned the corner towards improvement. The Fed expanded the size of its Term Auction Facility to US$ 75 billion and upped its reciprocal swap lines with the ECB and SNB.
• EUR
• JPY
• GBP
• CHF
• CAD
• AUD
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Tuesday,
22 April 2008,
04:09 GMT
Research
>
Forex - Technical research
FX Research Desk
Fundamental Outlook
The euro notched gains vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.5945 level and was supported around the $1.5790 level. The common currency regained much of the ground it lost on Friday and a few factors contributed to the pair’s gains. First, Bank of America – the U.S.’s largest retail bank – announced a 77% decline in first quarter net income and recorded at least US$ 1.91 billion in write-downs. The dollar fell on this news on broad concerns that the U.
• EUR
• JPY
• GBP
• CHF
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Monday,
07 April 2008,
00:24 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Weekly market recap, week ahed, and schedule
The euro depreciated vis-à-vis the U.S. dollar last week as the single currency tested bids around the $1.5510 level and was capped around the $1.5895 level. The pair lost about 55 pips last week. The Bush administration announced a sweeping overhaul of the financial services industry, giving the Fed broad new powers. Fed boss Bernanke warned the economy may enter a recession in H1 and said the Fed is prepared to enact more policy measures. May fed funds futures see either a 50bps or 75bps rate cut on 30 April.
• EUR
• JPY, CNY
• GBP
• CHF
• CAD
• AUD
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Thursday,
31 January 2008,
02:52 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Fundamental Outlook
The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4820 level and was supported around the $1.4755 level. The common currency reached its highest level since 16 January. The Federal Open Market Committee reduced the federal funds target rate by 50bps to 3.00% and reduced the discount rate by 50bps to 3.50%. Policymakers reported “Financial markets remain under considerable stress, and credit has tightened further for some businesses and households.
• EUR
• JPY
• GBP
• CHF
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Tuesday,
08 January 2008,
02:53 GMT
Research
>
Forex - Technical research
FX Research Desk
Fundamental Outlook
The euro came off vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4660 level and was capped around the $1.4755 level. Stops were hit below the $1.4700 figure, representing the 23.6% retracement of the run-up from $1.4310 to $1.4825. G10 central banks convened in Basel today and ECB’s Trichet said global economic growth remains “quite robust” but cited some downside risks including elevated commodity, food, and oil prices. Trichet reiterated there is no room for “complacency” against inflation and said there is “danger of second-round effects on headline inflation.
• EUR
• JPY
• GBP
• CHF
• AUD, NZD
• CAD
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