Daily FX Commentary
This report has been deactivated

11

0
Dollar dependent on defensive support
Wed, Nov 19 2008, 11:50 GMT
by Tim Clayton
Investica Ltd
The Euro pushed to highs of 1.27 as Wall Street secured opening gains. The Euro and US stocks were both unable to sustain opening gains and it weakened back to the 1.26 region. Headline consumer prices should also decline sharply on Wednesday which will given the Fed some degree of policy flexibility.
The latest NAHB housing index weakened further to a record low of 9 in October from 14 the previous month. The association noted that lenders had pulled back from new financing while consumer confidence had also weakened sharply. The housing starts data will, therefore, be watched closely on Wednesday amid fears of a further downturn in housing activity.
In this environment, there will be additional pressure for fresh policy measures to support the economy and Fed Governor Stern suggested that the Fed Funds rate could be cut to below the current 1.0% if conditions warrant.
Congressional negotiations surrounding the auto sector will continue to be watched closely while Treasury Secretary Paulson defended the switch of emphasis for the TARP programme. Acrimonious discussions would tend to unsettle the dollar.
Published on
Wed, Nov 19 2008, 14:34 GMT
Archive
- Daily FX Commentary
Published On Mon, Apr 20 2009, 13:05 GMT
- Daily FX Commentary
Published On Tue, Apr 14 2009, 14:16 GMT
- Daily FX Commentary
Published On Wed, Apr 8 2009, 13:09 GMT
- Daily FX Commentary
Published On Fri, Apr 3 2009, 11:47 GMT
- Daily FX Commentary
Published On Mon, Mar 30 2009, 15:36 GMT
[ View All ]
Investica Ltd
http://www.investica.co.uk | tim.clayton@investica.co.uk
Legal disclaimer and risk disclosure
Investica's market analysis is not investment advice and must not be taken as recommending particular market positions. Investica can take no responsibility for any actions taken by investors.
Related reports
Forex Economic Analysis - Forex Technical Analysis on Majors by www.deltastock.com
Tue, Nov 24 2009, 10:14 GMT
Daily Forex News - Forex - FX Markets Drift Due to Lack of Drivers by ACM - Advanced Currency Markets
Tue, Nov 24 2009, 10:04 GMT
Technical Major Currencies Report - Technical Major Currencies Morning Report by ecPulse.com
Tue, Nov 24 2009, 09:48 GMT
Forex Daily Analysis - Forex Trading - Dollar Tumbles After Big Day on Wall Street by ForexYard
Tue, Nov 24 2009, 09:47 GMT
Timeframe Breakdowns - EURUSD / EURGBP / EURJPY / GBPUSD by Turtle Futures
Tue, Nov 24 2009, 09:19 GMT
fed, eurusd, gbpusd, tarp, housing
View All
Related content
Germany's Merkel: Short Working Hours To Be Extended
Dow Jones | Tue, Nov 24 2009, 10:55 GMT
BOE King: Sterling Depreciation To Help Boost Economic Demand
Dow Jones | Tue, Nov 24 2009, 10:44 GMT
Forex: GBP/USD: Pound reaches 1.6500 low
FXstreet.com | Tue, Nov 24 2009, 10:29 GMT
Germany's Merkel: Near Impossible To Predict Economy's Course
Dow Jones | Tue, Nov 24 2009, 10:25 GMT
UPDATE: UK 3Q Business Investment Slows Decline To 3.0% QQ
Dow Jones | Tue, Nov 24 2009, 10:13 GMT
fed, eurusd, gbpusd, tarp, housing
View All
The Trader’s Edge » EUR/USD Update
Tue, Nov 24 2009, 08:45 GMT
FX Market Readings » Volatile move Vs false move
Tue, Nov 24 2009, 07:52 GMT
FX Market Readings » Early US session
Tue, Nov 24 2009, 00:42 GMT
ForexHedge » Airbus Euro’s or Boeing Dollars ?
Mon, Nov 23 2009, 15:45 GMT
Chartology » Two Looks at the Short Term 15min EUR/USD
Mon, Nov 23 2009, 15:41 GMT
fed, eurusd, gbpusd, tarp, housing
View All
Gbpusd - Forex Forum - FXstreet.com
Tue, Apr 28 2009, 14:55 GMT
Technical analysis for EUR/USD, GBP/USD - Page 5 - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:07 GMT
Yellowlion's Daily EURUSD - Page 6 - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:07 GMT
Elliott charts with Grega H. - Page 2 - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:05 GMT
Technical analysis for EUR/USD by AceTrader - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:03 GMT
fed, eurusd, gbpusd, tarp, housing
View All
Outlook for the major currencies this week
Ian Copsey | Tue, Sep 30 2008, 08:00 GMT
FX Instructor Live Trading Room
Mark De La Paz | Tue, Sep 30 2008, 11:00 GMT 
FX Instructor Live Trading Room
Mark De La Paz | Wed, Oct 1 2008, 09:00 GMT
Weekly Webinar: 1st on Forex - The Week Ahead
Jerry Furst | Mon, Oct 6 2008, 16:00 GMT
Outlook for the major currencies this week
Ian Copsey | Tue, Oct 7 2008, 08:00 GMT
fed, eurusd, gbpusd, tarp, housing
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our
user agreement. Please read our
privacy policy and legal disclaimer.
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.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
©2009 "FXstreet.com. The Forex Market" All Rights Reserved.