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Monday,
21 July 2008,
00:19 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 $1.5785 level and was capped around the $1.6040 level. The pair lost about 90 pips last week. The U.S. government bailed out Fannie Mae and Freddie Mac with a “liquidity backstop” and will purchase shares in them if needed. Bernanke cited a “critical” need to keep inflation expectations in check and said a “top priority” is normal market functioning. The Fed sees 2008 GDP growth of 1.
• EUR
• JPY
• GBP
• CHF
• CAD
• AUD
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Saturday,
19 July 2008,
03:22 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Daily market commentary
The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.5805 level and was capped around the $1.5885 level. The common currency came off after it was reported that U.S. banking giant Citigroup registered lost less money in the second business quarter than estimated. Citigroup took a charge of US$ 7.2 billion, below the $9.0 billion write-down that was expected. Traders are paying close attention to earnings reports from other U.S. financial institutions, especially during this period of heightened credit market dislocation.
• EUR
• JPY
• GBP
• CHF
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Friday,
18 July 2008,
01:21 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Daily market commentary
The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.5890 level and was supported around the $1.5810 level. Traders erased some of the common currency’s losses yesterday on concerns it will take a significant amount of time to work through this latest round of credit problems in the U.S. financial sector. The U.S. dollar was also lower on media reports that major sovereign wealth funds have trimmed their exposure to the U.S. dollar. Testimony from Federal Reserve Chairman Bernanke indicated beleaguered U.
• EUR
• JPY
• GBP
• CHF
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Thursday,
17 July 2008,
00:05 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Fundamental Outlook
The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.5865 level and was capped around the $1.5945 level. The common currency extended yesterday’s losses after it established a new lifetime high yesterday. Traders are paying attention to a few key factors. First, there is ongoing concern in the credit markets regarding the health of the U.S. banking sector, especially after the government bailed out Fannie Mae and Freddie Mac in an extraordinary move to prevent contagion.
• EUR
• JPY
• GBP
• CHF
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Wednesday,
16 July 2008,
00:01 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Fundamental Outlook
The euro appreciated sharply vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.6040 level and was supported around the $1.5880 level. Today’s intraday high represents a new lifetime high and the move higher was precipitated by growing concerns about the health of the U.S. banking sector. Traders are concerned that the failure of IndyMac Bank and bailouts of Fannie Mae and Freddie Mac represent the first financial institutions that are in immediate trouble.
• EUR
• JPY
• GBP
• CHF
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