|
Research
>
Forex - Fundamental research
|
16
|
Monday,
24 September 2007,
01:30 GMT
GCI Forex Research
by FX Research Desk
Weekly Calendar
Sunday, 23 September 2007
all times GMT
0130 Australia Reserve Bank of Australia Financial Stability Review
Monday, 24 September 2007
0830 UK August public sector net cash requirement (-?13.1 billion)
0830 UK August public sector net borrowing (-?6.5 billion)
0900 Eurozone July industrial new orders (4.4% m/m)
0900 Eurozone July industrial new orders (13.8% y/y)
1300 US Dallas Fed President Fisher speaks
1630 US Federal Reserve official Evans speaks
1700 US Federal Reserve Chairman Bernanke speaks
2350 Japan August Bank of Japan Policy Board meeting minutes
2350 Japan August corporate service price index (1.
Read more >
Monday,
24 September 2007,
01:23 GMT
GCI Forex Research
by 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 $1.4120 level and was supported around the $1.3825 level. The pair gained about 210 pips last week. The common currency eclipsed the psychologically-important US$ 1.40 figure for the first time ever. The FOMC reduced the federal funds target rate by a surprise 50bps to 4.75% and lowered the discount rate by 50bps. The Fed cited the effect of “tightening credit conditions” on the housing market and economic growth. U.S. Treasury’s Paulson said the markets will continue to reprice risk “for a while” but added they are doing so against the backdrop “of a strong global economy.” Fannie Mae and Freddie Mac were given the capacity to invest US$ 20 billion in subprime mortgages.
• EUR
• JPY
• GBP
• CHF
• CAD
• AUD
Read more >
Friday,
21 September 2007,
23:16 GMT
GCI Forex Research
by FX Research Desk
Fundamental Outlook at 1400 GMT (EDT + 0400)
The euro extended recent gains vis-a-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4120 level and was supported around the $1.4040 level. The common currency’s intraday high represented a fresh lifetime high for the pair. There was a dearth of economic data released in the U.S. today. Data released in the U.S. yesterday saw the Philadelphia Federal Reserve’s September manufacturing survey improve to 10.9. Fed Chairman Bernanke told Congress the current credit market crisis has created “significant market stress” and reiterated regulators would take steps to limit the effects from the mortgage crisis. Fed Vice Chairman Kohn today said the Fed formulates policy for the macroeconomy but added asset prices play a role in policymaking.
• EUR
• JPY
• GBP
• CHF
• AUD, NZD
• CAD
Read more >
Thursday,
20 September 2007,
22:02 GMT
GCI Forex Research
by FX Research Desk
Fundamental Outlook at 1400 GMT (EDT + 0400)
The euro appreciated vis-a-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4070 level and was supported around the $1.3955. The common currency rocketed to a new lifetime high above the psychologically-important $1.4000 figure on speculation that Saudi Arabia is ending its ending the peg between the rial and the U.S. dollar. Notably, the Saudi Arabian Monetary Agency did not reduce interest rates this week when the Federal Reserve took the federal funds target rate lower by 50bps. Traders believe this may set off a firestorm in the Middle East and could see other oil-rich countries decouple their currencies from the U.S. dollar and ignite more selling pressure.
• EUR
• JPY
• GBP
• CHF
• AUD, NZD
• CAD
Read more >
Wednesday,
19 September 2007,
23:03 GMT
GCI Forex Research
by FX Research Desk
Fundamental Outlook at 1400 GMT (EDT + 0400)
The euro came off vis-a-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3935 level and was capped around the $1.3985 level. Today’s range was limited following yesterday’s significant move higher that saw the common currency establish a new lifetime high and come within fifteen pips of testing the psychologically-important US$ 1.4000 figure. The impetus for the pair’s gains yesterday was a larger-than-expected interest rate reduction by the Federal Open Market Committee that saw the federal funds target rate lowered by 50bps to 4.75%. Most traders expected the FOMC to reduce rates by 25bps and many Fed-watchers are already anticipating policymakers will lower rates another 25bps this year.
• EUR
• JPY
• GBP
• CHF
Read more >
Tuesday,
18 September 2007,
22:23 GMT
Forexyard Daily Forex research
Forexyard Daily
Today, September 18th is the day that forex traders have been waiting for since mid-August, as the Federal Open Market Committee will meet and announce their interest rate decision at 18:15 GMT. At this point, it is no longer a question of whether or not they will cut, but by how much. Currently, the Fed needs to decide on what kind of action it wants to take, an aggressive 0.50 % rate cut which may be considered as a stiff intervention and it could have far-reaching implications on the market or on the other hand, a 0.25 % rate cut which might be already embodied in the current market price. We have to mention that the third alternative which would be that the Fed will leave the rates unchanged however unlikely that may be.
• USD
• EUR
• JPY
Read more >
Tuesday,
18 September 2007,
22:15 GMT
GCI Forex Research
by 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$ 1.3890 level and was supported around the $1.3825 level. Traders awaited the Federal Open Market Committee’s interest rate decision later in the North American session with most expecting a 25bps monetary expansion. A sizable minority, however, continue to call for a 50bps reduction in the federal funds target rate to provide the financial markets with some additional liquidity in the wake of the ongoing credit market shakeout. A 25bps cut would take the federal funds target rate lower to 5.00% and many traders also believe the Fed will again lower the discount rate to make it less expensive for financial institutions to borrow funds.
• EUR
• JPY
• GBP
• CHF
• AUD, NZD
• CAD
Read more >
|
1.3746 / 49
102.94 / 97
