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Wednesday,
17 October 2007,
03:38 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Fundamental Outlook
The euro depreciated vis-a-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4145 level and was capped around the $1.4225 level. Technically, today’s intraday low was right around the 50% retracement of the move from $1.4280 to $1.4015. Many factors were dominant in the market today. First, the common currency came off on news that Turkey’s parliament may positively vote in the next-24 hours to conduct military operations in northern Iraq against the Kurdistan Worker’s Party (PKK).
• EUR
• JPY
• GBP
• CHF
• AUD, NZD
• CAD
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Tuesday,
16 October 2007,
01:24 GMT
Research
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Forex - Fundamental research
FX Research Desk
Fundamental Outlook
The euro appreciated vis-a-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4245 level and was supported around the $1.4160 level. Traders are positioning themselves ahead of Friday’s G7 meeting of central bankers and finance ministers in Washington, D.C. Most dealers believe G7 officials will mention exchange rates in their communique and will focus on the yuan rather than the weakness of the U.S. dollar. Traders also await a speech from Fed Chairman Bernanke tonight to see if he yields any clues about the possible outcome of the FOMC meeting on 30-31 October.
• EUR
• JPY
• GBP
• CHF
• AUD, NZD
• CAD
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Sunday,
14 October 2007,
11:25 GMT
Research
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Forex - Fundamental research
FX Research Desk
Weekly calendar
Sunday, 14 October 2007
all times GMT
(last release in parentheses)
2145 NZ September food prices (-0.1% m/m)
2145 NZ Q3 consumer prices (1.0% q/q)
2145 NZ Q3 consumer prices (2.0% y/y)
2300 NZ September performance of services index
2301 UK October Rightmove house prices (-2.6% m/m)
2301 UK October Rightmove house prices (9.6% y/y)
Monday, 15 October 2007
all times GMT
(last release in parentheses)
0030 Japan Bank of Japan Governor Fukui speaks
0430 Japan August industrial production (3.
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Sunday,
14 October 2007,
11:25 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 $1.4240 level and was supported around the $1.4015 level. The pair gained about 40 pips last week. FOMC meeting minutes confirmed the Fed will be data-dependent but were less dovish than expected. Fed’s Yellen said the Fed may have been able to have move to a neutral bias. St. Louis Fed’s Poole said the September non-farm payrolls number hasn’t resulted in downside risk.
ECB’s Liikanen hawkishly called for “inflation expectations to remain anchored.
• EUR
• JPY
• GBP
• CHF
• CAD
• AUD
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Thursday,
11 October 2007,
23:59 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Fundamental Outlook at 1400 GMT (EDT + 0400)
The euro appreciated vis-a-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4240 level and was supported around the $1.4135 level. Stops were hit above the $1.4220 level, representing the 76.4% retracement of the move from $1.4280 to $1.4015. The common currency rocketed higher despite the release of decent U.S. economic data. First, weekly initial jobless claims fell 12,000 to 308,000 with continuing jobless claims off 15,000 to 2.521 million. Second, the September import price index was up 1.
• EUR
• JPY
• GBP
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1.4212 / 15
0.8213 / 17
