Premium
- New York
- London
- Barcelona
- Tokyo
- Sydney
Search
Daily Market Report
The US dollar weakened against most of its major trading partners yesterday and overnight
Fri, May 9 2008, 12:11 GMT
by Wachovia Research Team
The US dollar weakened against most of its major trading partners yesterday and overnight, with the exception of the British pound. Many investors pulled back expectations that the US dollar will continue its rally after the European Central Bank and Bank of England kept rates unchanged yesterday, causing the dollar to weaken broadly.
The pound, however, is headed for a third weekly loss as the UK economy continues to weaken from the sub-prime fallout. The Japanese Yen strengthened significantly against the euro and US dollar after a spike in risk aversion caused market participants to shift funds out of riskier investments.
Crude oil is sitting at another all-time high this morning, pushing through $125 per barrel. The Canadian dollar is stronger from the news; however, the Australian and New Zealand dollar have failed to rally behind the overnight rise in oil.
The only US data out today is the Trade Balance at 8:30 AM EST.
Published on Fri, May 9 2008, 12:13 GMT
Archive
- Economic releases out today include U.S. Initial Jobless Claims
Published On Thu, Jul 24 2008, 12:32 GMT - The U.S. dollar rose to a one month high against the yen
Published On Wed, Jul 23 2008, 12:21 GMT - The U.S. dollar fell against most major currencies this morning
Published On Tue, Jul 22 2008, 12:18 GMT - Asian currencies were largely stronger this morning
Published On Mon, Jul 21 2008, 12:17 GMT - There are no major economic releases in the U.S. today
Published On Fri, Jul 18 2008, 13:28 GMT
Wachovia Corporation
| P.O. Box 025383 Miami, FL 33102-5383
http://www.wachovia.com | sam.bullard@wachovia.com
Legal disclaimer and risk disclosure
The information and opinions herein are for general information use only. Wachovia Corporation and its affiliates, including Wachovia Bank, N.A., do not guarantee their accuracy or completeness, nor does Wachovia Corporation or any of its affiliates, including Wachovia Bank, N.A., assume any liability for any loss that may result from the reliance by any person upon any such information or opinions. Such information and opinions are subject to change without notice, are for general information only and are not intended as an offer or solicitation with respect to the purchase or sales of any security or any foreign exchange transaction, or as personalized investment advice. Securities and foreign exchange transactions are not FDIC-insured, are not bank-guaranteed, and may lose value.Interested in forex trading? forex brokerage firms!
FXstreet.com will give you a 3 months membership as soon as minimum rebates have been generated (€150 for private trader/ €300 for corporate trader)
[Read Premium full description]
Rates
Charts
News
Live
Reports
Other
- Looking for a Broker/FDM?
- Content Contributors
- Premium section
- Workshops and Conventions
- Forex Books
Full Site Map
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management.
Risk Disclosure: 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 invest in 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.
©2008 "FXstreet.com. The Forex Market" All Rights Reserved.