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Friday,
31 August 2007,
18:42 GMT
Research
>
Forex - Fundamental research
Fundamental Outlook at 1400 GMT (EDT + 0400)
The euro moved higher vis-a-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3720 level and was supported around the $1.3625 level. Technically, today’s intraday high was just below the 76.4% retracement of the move from $1.3840 to $1.3360. Traders bid the common currency higher in Australasian and European dealing on expectations that Federal Reserve Chairman Bernanke may not make market-friendly comments about the U.S. housing sector at the annual Jackson Hole symposium in Jackson Hole today.
• EUR
• JPY
• GBP
• CHF
• AUD, NZD
• CAD
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Thursday,
30 August 2007,
16:01 GMT
Research
>
Forex - Fundamental research
Fundamental Outlook at 1400 GMT (EDT + 0400)
The euro lost ground vis-a-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3641 level and was capped around the $1.3679 level. Many data will be released in the U.S. and eurozone over the next couple of days before the end of the month. Traders will pay very close attention to Q2 GDP data in the U.S. along with core personal consumption expenditures and weekly jobless claims today followed by personal income and spending data tomorrow. Market participants are very curious to see how the recent found of job cuts in the U.
• EUR
• JPY
• GBP
• CHF
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Wednesday,
29 August 2007,
15:17 GMT
Research
>
Forex - Technical research
Fundamental Outlook at 1400 GMT (EDT + 0400)
The euro appreciated vis-a-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3660 level and was supported around the $1.3560 level. Technically, today’s intraday low was right around the 50% retracement of the move from $1.3260 to $1.3850. Traders paid close attention to the release of the Federal Open Market Committee’s minutes from their 7 August policy deliberations in which officials discussed the possible need for “a policy response” if financial markets turmoil continued.
• EUR
• JPY
• GBP
• CHF
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Tuesday,
28 August 2007,
15:50 GMT
Research
>
Forex - Fundamental research
Fundamental Outlook at 1400 GMT (EDT + 0400)
The euro lost ground vis-a-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3615 level and was capped around the $1.3680 level. Technically, today’s intraday low was right around the 23.6% retracement of the move from $1.2865 to $1.3850. The Federal Reserve injected US$ 2.0 billion in temporary reserves through overnight repurchase agreements today. The common currency came off following comments from European Central Bank President Trichet who indicated the central bank could forego a rate hike next month if financial markets become volatile again.
• EUR
• JPY
• GBP
• CHF
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Tuesday,
28 August 2007,
01:31 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Fundamental Outlook at 1400 GMT (EDT + 0400)
The euro lost ground vis-a-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3650 level and was capped around the 1.3685 level. Liquidity was reduced during the European session on account of a bank holiday in London. French President Sarkozy called on the financial markets to exercise more transparency and continues to call on the European Central Bank to not tighten credit, contrary to most traders’ expectations for next month’s meeting. Most dealers believe policymakers will lift the overnight call rate by +25bps in September.
• EUR
• JPY
• GBP
• CHF
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