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Currency and Stock Markets Weekly Outlook
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Forex Weekly Overview
Tue, Apr 29 2008, 13:55 GMT
by Przemysław Kwiecień
In the last week we witnessed a major change in the sentiment on the forex. After numerous attempts the euro broke through the psychological 1,60 USD level, scoring the new record at 1,6018. However, the market clearly was not certain if yet another wave of the dollar depreciation could be possible and what how monetary authorities could respond to it. The EURUSD didn’t manage to stay above the 1,60 threshold and this was the major reason for the correction. Later in the week the US currency was supported by earnings results which were better on average, as well as the macroeconomic data, especially unexpectedly low Ifo in Germany and a drop in initial claims in the US. The euro was 1,5% down on the week and more than 2,5% down from its peak, while the Swiss frank lost over 1,5% and the Japanese yen 0,6%. The coming week will show how strong the correction can be with the US advanced GDP for the 1st quarter, the Fed decision and energy giants’ results as main drivers. Falling EURUSD also sparked a noticeable sell off on the Polish market. The zloty was down almost 2% to the dollar and 0,3% to the euro on the whole week after scoring a multiyear high to the USD late on Tuesday. While the end of coming week should be very calm due to the holiday on Thursday, investors are awaiting the MPC decision before. This time, we expect the rates to remain unchanged.
Published on Tue, Apr 29 2008, 13:56 GMT
Archive
- The U.S still decides
Published On Fri, Oct 17 2008, 14:37 GMT - Markets have not been so nervous since a very long time
Published On Fri, Oct 3 2008, 14:00 GMT - Electrifying news
Published On Fri, Sep 26 2008, 14:35 GMT - Spectacular Events
Published On Mon, Sep 15 2008, 07:54 GMT - Volatility increased
Published On Fri, Sep 5 2008, 15:07 GMT
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
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