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Thursday,
13 September 2007,
19:08 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Fundamental Outlook at 1400 GMT (EDT + 0400)
The euro strengthened vis-a-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3925 level and was supported around the $1.3860 level. The common currency established a new lifetime high and then yielded gains during the North American session. The Federal Reserve injected US$ 21 billion in liquidity today one day after it added US$ 13.5 billion to the banking system. Most traders believe the Federal Open Market Committee will reduce the federal funds target rate between 25bps and 50bps next Tuesday on account of the slowness in the U.
• EUR
• JPY
• GBP
• CHF
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Wednesday,
12 September 2007,
23:19 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Fundamental Outlook at 1400 GMT (EDT + 0400)
The euro strengthened vis-a-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3895 level and was supported around the $1.3825 level. The common currency established a fresh lifetime high as traders reacted to remarks from U.S. Treasury Secretary Paulson who indicated the current financial market problems may last longer than the Asian and Russian financial crises of the 1990s. Further pressure on the U.S. is likely to materialize on account of growing pressure on the Federal Reserve to reduce interest rates next Tuesday.
• EUR
• JPY
• GBP
• CHF
• AUD, NZD
• CAD
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Tuesday,
11 September 2007,
22:55 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Fundamental Outlook at 1400 GMT (EDT + 0400)
The euro strengthened vis-a-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3840 level and was supported around the $1.3775 level. Traders await remarks from Federal Reserve Chairman Bernanke from Berlin later today. Comments from Fed officials yesterday evidenced a wide range of opinions concerning the effects of the current global credit crunch on the U.S. economy. Fed Governor Mishkin reported that if “heightened uncertainty” leads to further pullbacks in household and business spending, “it poses an important downside risk to economic activity.
• EUR
• JPY
• GBP
• CHF
• AUD, NZD
• CAD
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Monday,
10 September 2007,
21:37 GMT
Research
>
Forex - Fundamental research
FX Research Desk
Fundamental Outlook at 1400 GMT (EDT + 0400)
The euro strengthened vis-a-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3815 level and was supported around the $1.3765 level. The common currency reached its strongest level since 8 August as traders continued to react to Friday’s weak U.S. August non-farm payrolls report that saw 4,000 jobs lost last month and sizable downward revisions to June’s and July’s tallies. Also, positive remarks from multiple European Central Bank officials over the weekend and today emboldened the common currency further.
• EUR
• JPY
• GBP
• CHF
• AUD, NZD
• CAD
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Monday,
10 September 2007,
00:40 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 $1.3795 level and was supported around the $1.3550 level. The pair gained about 140 pips last week. Traders continued to speculate as to what the FOMC will do and say on 18 September. The Fed’s Beige Book saw a “limited” impact of the current credit crunch on the economy outside of housing. Anecdotal August retail sales evidence suggests strong results. A contraction in U.S. August jobs growth and 81,000 downward revision to June’s and July’s tallies will up the Fed’s ante.
• EUR
• JPY
• GBP
• CHF
• CAD
• AUD
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