Premium
- New York
- London
- Barcelona
- Tokyo
- Sydney
Search
Daily Market Report
There are no major economic releases in the U.S. today
Fri, Jul 18 2008, 13:28 GMT
by Wachovia Research Team
The dollar rallied yesterday as oil fell more than $5 per barrel to its lowest level in six weeks. As equities rose, investors revisited the carry trade putting pressure on low yielding currencies such as the Japanese yen and Swiss franc.
Overnight, ECB president Trichet commented that Euro-zone growth is likely to slow in the 2nd and 3rd quarters. These comments, as well as better than expected earnings by Citigroup sent the dollar higher versus the euro. Sterling fell on speculation that the U.K. Treasury will reform the fiscal rules in an effort to allow more borrowing. This gives further support to the fact that U.K. economy is weakening.
Overall, the dollar remains under pressure and will look towards equities, earnings from U.S. banks, news in the U.S. financial sector and commodity prices for direction.
There are no major economic releases in the U.S. today.
Published on Fri, Jul 18 2008, 13:31 GMT
Archive
- Despite an almost 3% drop in the DJIA, the U.S. dollar continued its strengthening trend yesterday
Published On Fri, Sep 5 2008, 12:17 GMT - This morning, the Bank of England announced that it was keeping rates steady at 5.00%
Published On Thu, Sep 4 2008, 12:18 GMT - The U.S. dollar is again stronger this morning
Published On Wed, Sep 3 2008, 12:08 GMT - The dollar hit a seven month high against the euro
Published On Tue, Sep 2 2008, 12:12 GMT - Yesterday afternoon, the dollar strengthened as oil prices fell 3%
Published On Fri, Aug 29 2008, 12:12 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.
