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FX Levels for Today August 1
Fri, Aug 1 2008, 04:23 GMT
by Abdul Khan
Overview
A mixed session overnight, as the USD fell early on the back of disappointing GDP data, but firmed late on the back of weaker crude oil, and the market's reluctance to push the EUR to high.
While the market remained cautious about buying the EUR too heavily, the data also reminded the market that the US is far from out of the woods.
Already today, the USD has firmed up as the EUR and AUD lead the way lower following a break of overnight lows. Traders are waiting on tonight's payrolls data before moving too far. The data doesnt have to be spectacular, rather just not be as disappointing as the market expects for the USD to go higher into the weekend.
The precious metals failed to hold earlier gains, falling on the back of crude oil, and remain soft today as the USD firms.
Data for today
US: Non-Farm Payrolls
US: ISM Manufacturing
For today:
I'm out of the market today ahead of the payrolls. I suspect we'll see the EUR end the week in the lows 1.55's, and the AUD in the low .93's.
This would also see Gold re-test 900.0, and silver the lows 17's.
We're buying USD Index Calls. Please email for more info.
Published on Fri, Aug 1 2008, 04:40 GMT
Archive
- FX Levels for Today. July 2, 2009
Published On Thu, Jul 2 2009, 01:54 GMT - FX Levels for Today. July 1, 2009
Published On Wed, Jul 1 2009, 03:50 GMT - FX Levels for Today. June 26, 2009
Published On Fri, Jun 26 2009, 01:30 GMT - FX Levels for Today. June 25, 2009
Published On Thu, Jun 25 2009, 04:37 GMT - FX Levels for Today. June 19, 2009
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