日本語
Español
中文
Русский 
- New York 06:27
- London 11:27
- Barcelona 12:27
- Tokyo 20:27
- Sydney 22:27
Weekly Analysis
This report has been deactivated
0
0
Dollar rallies at the end of the week
Mon, Jul 21 2008, 08:36 GMT
by Benny Menashe
The U.S. currency rose versus the yen today after Citigroup Inc. the biggest U.S. bank, reported better-than-expected earnings. The pound fell on speculation the U.K. government will boost borrowing as Chancellor of the Exchequer Alistair Darling introduces new spending guidelines. The dollar traded at $1.5844 per euro at 10:01 a.m. in New York, compared with $1.5863 yesterday and $1.5938 at the end of last week. It dropped to an all-time low of $1.6038 on July 15. The currency climbed to 106.60 yen from 106.28 yen yesterday. The Japanese currency traded at 168.88 per euro, from 168.58 yesterday and 169.46 on July 11.
JPMorgan, the largest bank by market value, and Wells Fargo & Co. this week reported second-quarter earnings which beat analysts' estimates. Merrill Lynch & Co., the third-biggest U.S. securities firm, fell after it yesterday reported a fourth straight quarterly loss. But sterling fell sharply after the Financial Times reported that the UK Treasury is working on plans to change its fiscal rules. This could effectively give it more leeway to increase borrowing as a way of mitigating the effects of anticipated economic slowdown.
The dollar surged against the yen on Thursday and erased earlier losses versus the euro as oil prices plunged amid concerns about global growth. The dollar rose to 106.96 yen, a session peak and 1.8 percent above its level late on Wednesday. Oil dove below $130 a barrel CLc1, its lowest level in more than five weeks, on concern about global demand and higher crude and product inventory. Still, dollar sentiment is by no means solid, given concern over the U.S. financial system and bleak growth prospects due to the slumping housing market. Data on Thursday showing a contraction in July factory activity in the U.S. Mid-Atlantic region was the latest evidence of the economic problems there.
Today's Economic Events
| Time | Event | Currency | Period | Previous | Forecast | Significance | Actual |
| 12:30 | Wholesale Sales m/m | CAD | May | 1.40% | 0.50% | 3 | |
| 12:30 | Leading Indicators m/m | CAD | Jun | 0.20% | 0.10% | 2 | |
| 9:00 | Trade Balance | EUR | Jun | 2.2B | 0.9B | 2 | -1.5B |
| 6:00 | PPI m/m | EUR | Jun | 1.00% | 0.70% | 2 | 0.90% |
Published on Mon, Jul 21 2008, 08:38 GMT
Archive
- RBS says Sell the USD/CAD as the bank of Canada may increase the rate
Published On Tue, Oct 13 2009, 10:02 GMT - Shares set to rebound this week as good market news seen on the horizon
Published On Tue, Oct 6 2009, 08:49 GMT - The British Pound edges upwards as the GDP figures come out slightly better than
Published On Fri, Aug 28 2009, 14:25 GMT - The Dollar falls to $1.40 against the Euro for the first time since January
Published On Wed, May 27 2009, 06:58 GMT - Investors should avoid betting the dollar will keep falling
Published On Tue, May 12 2009, 06:36 GMT
Finotec
| Global financial trading center, 1 Grivas Digheni and Chrysanthou, 3035 Mylona P.O.B 58007, Limassol
http://www.finotec.com/ | support@finotec.com
Legal disclaimer and risk disclosure
FINOTEC Trading’s Market Commentaries are provided for informational purposes only. The information contained within these reports is gathered from reputable news sources and not intended as investment advice. FINOTEC Trading assumes no responsibility or liability from gains or losses incurred by the information herein.Interested in forex trading? forex brokerage firms!
GET CASH BACK FOR YOUR TRADES! Learn more about the Pip Rebate Program
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.