Forex News - Advanced Currency Markets

European Market Update: BOE Befuddled; European Carmakers' Earnings Take a Bow

Added Wed, 23 Jul 2008 16:27:36 +0100 GMT
middot;FR June Consumer Spending: M/M -0.4% v -0.6%e || Prior revised from 2.0% to 1.7% |||| Y/Y 1.0% v 1.4%e || Prior revised from 3.1% to 2.8%. middot;SP June Producer Prices: M/M 1.1% v 0.6%e || Y/Y 9.0 % v 8.4%e ...

Asian Market Update: Australia's core inflation at a 17yr high; Stocks rebound builds momentum

Added Wed, 23 Jul 2008 16:26:07 +0100 GMT
- Forex: The USD was little changed in Asia, with the USD/JPY closing the New York session above its 200day MA for the first time this year. Traders say they expect the pair to remain firm, but are also bracing for selling by Japanese exporters at these l...

Halo Financial - Daily Currency Insight

Added Wed, 23 Jul 2008 16:24:31 +0100 GMT
The International Monetary Fund IMF warned yesterday that the euro was overvalued relative to medium-term fundamentals, while currencies of countries who run current account surpluses (not too many of those left) including China remain substantially u...

GFT: Daily Market Commentary

Added Wed, 23 Jul 2008 09:24:19 +0100 GMT
The dollar surged on Tuesday in part because Treasury Secretary Paulson paid lip service for the currency and the Federal Reserve Bank of Philadelphia president said interest rates should be raised. Alternating up and down days make it difficult to stay l...

DAILY FOREX AND DOW JONES RECOMMENDED LEVELS

Added Wed, 23 Jul 2008 09:20:59 +0100 GMT
EUR/USD Today#700;s support: - 1.5766 and 1.5744(main), where correction is possible. Break would give 1.5728, where correction also may be. Then follows 1.5716. Break of the latter would result in 1.5683. If a strong impulse, we would see ......

Fundamental Outlook at 1400 GMT (EDT + 0400)

Added Wed, 23 Jul 2008 01:22:09 +0100 GMT
The euro weakened vis-agrave;-vis the U.S. dollar today as the single currency tested bids around the US$ 1.5825 level and was capped around the $1.5945 level. Technically, today#8217;s intraday high was right around the 23.6% retracement of the ......

Dow +50 S&P +2 NASDAQ -2.5

Added Tue, 22 Jul 2008 19:39:06 +0100 GMT
- The Dow is rebounding strongly, spurred on by a significant deterioration in oil prices after assorted disappointing Q2 earnings reports led to weakness in European and US equity futures before the NY open. Wachovia was the latest big bank to release hi...

Halo Financial - Daily Currency Insight

Added Tue, 22 Jul 2008 13:12:14 +0100 GMT
If you are in an office with nine other people, according to a Guardian/ICM poll published today, eight of you think we are heading for a recession. Now pull yourselves together or it may just come true. Everything is fine; supermarket forecourt petrol p...

GFT: Daily Market Commentary

Added Tue, 22 Jul 2008 13:10:31 +0100 GMT
The oil and gold prices went up and the dollar eventually tumbled on Monday. The medium-term outlook remains negative, but the dollar failed to make an upmove, so the downside is favored. Euro/dollar rallied broadly but this my model...

European Market Update: Market Sentiment Shaky in the Wake of Poor Earnings Results

Added Tue, 22 Jul 2008 13:09:10 +0100 GMT
middot;In equity news overnight Norskhydro [NHY.NO] reported their Q2 Net at NOK786M, below estimates of NOK1.4B, and EBIT of NOK708M, below estimates of NOK1.76B. Revenue of NOK23.9B was slightly better than the NOK22.64B estimate. The company said ......

Asian Market Update: Weak U.S. earnings knock down Asian tech stocks

Added Tue, 22 Jul 2008 13:07:44 +0100 GMT
- Forex: There continues to be a lack of follow-through buying in the USD after the Bank of America results, with investors remaining nervous about the health of the U.S. financial sector. Many U.S. and European traders went home short EUR and GBP, with s...

BFI: Currency market commentary

Added Tue, 22 Jul 2008 10:03:47 +0100 GMT
EURUSD Trading range for today is between 1,5870-1,5940. The upper limit 1,5940 is seen as a strong support and is unlikely to be exceeded today, however in case it is broken rise to 1,6020/40 will occur. Below 1,5870 next support levels are at 1,5810 an...

KBC: Another day, another high for the Czech koruna

Added Tue, 22 Jul 2008 09:23:46 +0100 GMT
The Hungarian forint remained stable after the central bank#8217;s decision to maintain the base rate at 8.5%. Decision was no surprise given the strength of the forint, while the statement sounds more balanced than before. It puts risks to both ......

DAILY FOREX AND DOW JONES RECOMMENDED LEVELS

Added Tue, 22 Jul 2008 09:18:27 +0100 GMT
EUR/USD Today#700;s support: - 1.5907, 1.5871, 1.5840 and 1.5817(main), where correction is possible. Break would give 1.5806, where correction also may be. Then follows 1.5781. Break of the latter would result in 1.5750. If a strong impulse, we ......

Dow -45 NASDAQ -8 S&P -2.25

Added Mon, 21 Jul 2008 17:58:45 +0100 GMT
- Both the Dow and Nasdaq extended last week's rally in the pre-market as Bank of America released positive earnings, but both indicies have given up much of those gains in early trading. BAC+12 is a big winner this morning, becoming the latest ......

European Market Update: The Lull Before the Storm

Added Mon, 21 Jul 2008 17:56:24 +0100 GMT
middot;In equity news overnight an analyst at Lehman overnight cut his outlook for the FTSE world index to 362 from 415. The index averaged 439.4 over the past year, and opened around 394.5 today. HBOS [HBOS.UK] confirmed the results of its rights ......

Halo Financial - Daily Currency Insight

Added Mon, 21 Jul 2008 13:42:37 +0100 GMT
Last week was awash with reports containing the words #8216;worst since.....#8217;. Some of these included Eurozone industrial production which fell 1.9 percent in June, the largest monthly fall in 16 years, Eurozone inflation which hit 4 percent ......

BFI: Currency market commentary

Added Mon, 21 Jul 2008 12:01:04 +0100 GMT
EURUSD Current retreat and stay in range 1,5800-1,5900 can last for a bit longer. There is a chance for a deeper correction to 1,5670/1,5700 area, but first of all 1,5770 level must be broken. Up to then a rebound to 1,5960/1,6020 can happen any time....

DAILY FOREX AND DOW JONES RECOMMENDED LEVELS

Added Mon, 21 Jul 2008 09:55:04 +0100 GMT
EUR/USD Today#700;s support: - 1.5825, 1.5806 and 1.5781(main), where correction is possible. Break would give 1.5750, where correction also may be. Then follows 1.5728. Break of the latter would result in 1.5716. If a strong impulse, we would ......

GFT: Daily Market Commentary

Added Mon, 21 Jul 2008 09:49:16 +0100 GMT
The dollar edged higher on Friday in quiet trading. We need to see if there will be another recovery in the equity indices and a decline in the oil price. The medium-term outlook remains negative, but the dollar should attempt another upmove today. ...