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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 $1.4015. The common currency rocketed higher despite the release of decent U.S. economic data. First, weekly initial jobless claims fell 12,000 to 308,000 with continuing jobless claims off 15,000 to 2.521 million. Second, the September import price index was up 1.
• EUR
• JPY
• GBP
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Tuesday,
09 October 2007,
23:20 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Fundamental Outlook at 1400 GMT (EDT + 0400)
The euro gained marginal ground vis-a-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4060 level and was supported around the US$ 1.4015 level. The common currency did not get much of a boost late yesterday following the meeting of eurozone finance ministers who convened to discuss the euro’s appreciation. Finance ministers merely indicated with “great attention” that the U.S. is still officially promoting a strong dollar policy. European Central Bank President Trichet testified today that there is heightened uncertainty in the financial markets but reiterated there are risks of higher inflation.
• EUR
• JPY
• GBP
• CHF
• AUD, NZD
• CAD
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Tuesday,
09 October 2007,
01:29 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Fundamental Outlook at 1400 GMT (EDT + 0400)
The euro depreciated vis-a-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4060 level and was capped around the $1.4150 level. There are two primary reasons why the common currency is consolidating recent gains. First, traders are reassessing the likelihood of additional monetary easing from the Federal Open Market Committee following Friday’s stronger-than-expected September non-farm payrolls report. The federal funds futures market was pricing in more than a 70% change the Fed would reduce interest rates again at its 30-31 October policy-setting meeting but that expectation has fallen to below 60%.
• EUR
• JPY
• GBP
• CHF
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Monday,
08 October 2007,
15:35 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Weekly market recap, week ahed, and schedule
The euro depreciated vis-a-vis the U.S. dollar last week as the single currency tested bids around the $1.4030 level and was capped around the $1.4060 level. The pair lost about 135 pips last week. Fed Chairman Bernanke said the U.S. housing correction has more room to run and warned that inflationary pressures are escalating. Fed’s Kohn said last month’s 50bps was the first approximation of what needed to be done and added it “will not be able to avert all of the weakness in the economy.
• EUR
• JPY
• GBP
• CHF
• CAD
• AUD
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Monday,
08 October 2007,
15:35 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Weekly calendar
Sunday, 7 October 2007
all times GMT
(last release in parentheses)
N/A NZ September house prices (13.3% y/y)
2330 Australia September performance of construction index (48.4)
Monday, 8 October 2007
all times GMT
(last release in parentheses)
0130 Australia September ANZ job advertisements (0.1% m/m)
0545 CH September unemployment rate (2.6%)
0600 Belgium European Central Bank President Trichet speaks
0730 Ireland European Central Bank member Hurley speaks
0800 Finland European Central Bank member Liikanen speaks
0830 UK September producer price index, input (-0.
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