|
Research
>
Forex - Fundamental research
|
9
|
Tuesday,
27 November 2007,
03:44 GMT
GCI Forex Research
by FX Research Desk
Fundamental Outlook
The euro gained ground vis-a-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4885 level and was supported around the $1.4805 level. On Friday, the common currency established a new lifetime high before paring intraday gains and traders continue to eye the psychologically-important US$ 1.5000 figure. The pair’s upside moves were limited by news that early U.S. holiday retail sales have been robust this weekend, up 7.2% y/y. Data released in the U.S. today saw the Chicago Fed’s National Activity Index fall to -0.73 in October, down from -0.30 in September. Traders await comments from Philadelphia Fed President Plosser tomorrow and U.S. housing market data this week.
• EUR
• JPY
• GBP
• CHF
Read more >
Monday,
26 November 2007,
06:59 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 $1.4965 level and was supported around the $1.4620 level. The pair gained about 175 pips last week. Treasury’s Paulson reiterated the U.S.’s strong dollar policy. Rumours surfaced that Saudi Arabia and UAE will revise their FX regimes by reducing USD exposure. The Fed saw the October rate cut as a “close call” and now sees core PCEs up 1.7 to 1.9% in 2008 and GDP growth between 1.80% and 2.5%. The euro neared the $1.50 figure on Friday and pulled away.
ECB’s Trichet and Liebscher noted exchange rate volatility is “not welcome” and cited
upside inflation risks. Buba sees German inflation normalizing in 2008.
• EUR
• JPY
• GBP
• CHF
• CAD
• AUD
Read more >
Monday,
26 November 2007,
05:04 GMT
GCI Forex Research
by FX Research Desk
Weekly schedule
Monday, 26 November 2007
all times GMT
(last release in parentheses)
N/A Italy European Central Bank member Draghi speaks
0245 NZ October trade balance (-NZ$ 544 million)
0500 Japan October corporate service prices (1.4% y/y)
0900 UK November Nationwide house prices (1.1% m/m)
0900 UK November Nationwide house prices (9.7% y/y)
1000 Germany November Ifo business climate survey
1230 Latvia European Central Bank member Kranjec speaks
1515 Poland European Central Bank Tumpel-Gugerell speaks
1530 Cyprus European Central Bank member Papademos speaks
2100 India European Central Bank member Trichet speaks
2200 Belgium European Central Bank member Quaden speaks
Tuesday, 27 November 2007
all times GMT
(last release in parentheses)
N/A Australia October HIA new home sales (9.
Read more >
Wednesday,
21 November 2007,
04:28 GMT
GCI Forex Research
by FX Research Desk
Fundamental Outlook
The euro surged higher vis-a-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4815 level and was supported around the $1.4635 level. The common currency established a new lifetime high today on reports that Saudi Arabia and the United Arab Emirates are considering de-pegging their currencies from the greenback. Changes to Middle Eastern exchange rate could potentially have an adverse impact on the U.S. dollar because Middle Eastern countries would likely accumulate more euros and British pounds. Furthermore, these entities control hundreds of billions in petrodollars as a result of elevated energy prices and a shift in exchange rate policies could have a dramatic impact.
• EUR
• JPY
• GBP
• CHF
• AUD, NZD
• CAD
Read more >
Tuesday,
20 November 2007,
06:15 GMT
GCI Forex Research
by FX Research Desk
Fundamental Outlook
The euro appreciated vis-a-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4685 level and was supported around the $1.4620 level. Technically, today’s intraday low was right around the 50% retracement of the move from $1.4520 to $1.4725. Traders await the release of FOMC meeting minutes from the end of October tomorrow to help assess the likelihood the Fed may trim interest rates again next month. The Fed will also release new economic projections tomorrow that were announced last week by Chairman Bernanke, an attempt to boost transparency by releasing economic estimates four times per year instead of two. U.S. housing starts data for October will also be released tomorrow.
• EUR
• JPY
• GBP
• CHF
Read more >
Monday,
19 November 2007,
08:52 GMT
GCI Forex Research
by FX Research Desk
Weekly calendar
Monday, 19 November 2007
all times GMT
(last release in parentheses)
0001 UK November Rightmove house prices (2.7% m/m)
0001 UK November Rightmove house prices (10.4% y/y)
0115 Singapore Minneapolis Fed President Stern speaks
0530 Japan October nationwide department sales (-2.5% y/y)
0530 Japan October Tokyo-area department store sales (-2.1% y/y)
0915 Germany European Central Bank member Tumpel-Gugerell speaks
1000 Eurozone September construction output (0.4% m/m)
1000 Eurozone September construction output (2.8% y/y)
1100 Ghana U.
Read more >
Monday,
19 November 2007,
08:46 GMT
GCI Forex Research
by 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 $1.4520 level and was capped around the $1.4725 level. The pair lost about 40 pips last week. Bernanke boosted Fed transparency by increasing the number of economic forecasts published by the Fed to four from two and will increase the time horizon to three years from two years. Also, the Fed will publish forecasts for headline and core inflation, inching closer to the adoption of a formal inflation target. Dallas Fed’s Fisher said markets are “preoccupied with economic growth at the expense of doing our job on the inflation rate.” Bush reiterated the strong U.S. dollar policy. Fed’s Kroszner sees more “downbeat” data but doesn’t know if rates should come down further.
• EUR
• JPY
• GBP
• CHF
• CAD
• AUD
Read more >
|
1.2587 / 90
