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Tuesday,
27 November 2007,
03:44 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Fundamental Outlook
The euro gained ground vis-a-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4885 level and was supported around the $1.4805 level. On Friday, the common currency established a new lifetime high before paring intraday gains and traders continue to eye the psychologically-important US$ 1.5000 figure. The pair’s upside moves were limited by news that early U.S. holiday retail sales have been robust this weekend, up 7.2% y/y. Data released in the U.S. today saw the Chicago Fed’s National Activity Index fall to -0.
• EUR
• JPY
• GBP
• CHF
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Monday,
26 November 2007,
06:59 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Weekly market recap, week ahed, and schedule
The euro appreciated vis-a-vis the U.S. dollar last week as the single currency tested offers around the $1.4965 level and was supported around the $1.4620 level. The pair gained about 175 pips last week. Treasury’s Paulson reiterated the U.S.’s strong dollar policy. Rumours surfaced that Saudi Arabia and UAE will revise their FX regimes by reducing USD exposure. The Fed saw the October rate cut as a “close call” and now sees core PCEs up 1.7 to 1.9% in 2008 and GDP growth between 1.80% and 2.
• EUR
• JPY
• GBP
• CHF
• CAD
• AUD
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Monday,
26 November 2007,
05:04 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Weekly schedule
Monday, 26 November 2007
all times GMT
(last release in parentheses)
N/A Italy European Central Bank member Draghi speaks
0245 NZ October trade balance (-NZ$ 544 million)
0500 Japan October corporate service prices (1.4% y/y)
0900 UK November Nationwide house prices (1.1% m/m)
0900 UK November Nationwide house prices (9.7% y/y)
1000 Germany November Ifo business climate survey
1230 Latvia European Central Bank member Kranjec speaks
1515 Poland European Central Bank Tumpel-Gugerell speaks
1530 Cyprus European Central Bank member Papademos speaks
2100 India European Central Bank member Trichet speaks
2200 Belgium European Central Bank member Quaden speaks
Tuesday, 27 November 2007
all times GMT
(last release in parentheses)
N/A Australia October HIA new home sales (9.
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Wednesday,
21 November 2007,
04:30 GMT
Research
>
Forex - Currency reports and news
FX Research Desk
Daily Recap and a day ahead
Daily Recap
EUR/USD at new lifetime high; 1.50 figure in sight
USD given on fresh rumours of Gulf states reducing greenback exposure
Liebscher: hawish; Juncker: “deplore” fast moves; Quaden: weakness on way
Brief reprieve for U.S. housing: Oct housing starts up 3.0%
Fed funds futures eye 59% change of -50bps move in Dec
EU looking for concessions from China at next week’s trade summit
CBI industrial trends better-than-expected: enough to prevent Dec easing?
Canadian Oct core CPI up 0.
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Wednesday,
21 November 2007,
04:28 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Fundamental Outlook
The euro surged higher vis-a-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4815 level and was supported around the $1.4635 level. The common currency established a new lifetime high today on reports that Saudi Arabia and the United Arab Emirates are considering de-pegging their currencies from the greenback. Changes to Middle Eastern exchange rate could potentially have an adverse impact on the U.S. dollar because Middle Eastern countries would likely accumulate more euros and British pounds.
• EUR
• JPY
• GBP
• CHF
• AUD, NZD
• CAD
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