日本語
Español
中文
Русский 
- New York 14:29
- London 19:29
- Barcelona 20:29
- Tokyo 04:29
- Sydney 06:29
Daily FX Report
0
0
Trichet said inflation remains his top concern
Fri, May 9 2008, 08:23 GMT
by Varengold Bank Research Team
Varengold Wertpapierhandelsbank AG
This weekend the citizen of Hamburg and thousand visitors from the whole world will celebrate the birth of date of the harbour. We expect a lot of impressive and famous ships at the opening review. Take a look: http://www.hafengeburtstag.de/Content_en/start_e.htm
Markets review
The EUR rebounded on Thursday from a two-month low against the USD after European Central Bank President Jean-Claude Trichet said inflation remains his top concern. After the ECB left the benchmark refinancing rate at 4%, Trichet told reporters that high energy and food costs mean that the euro zone still faces a protracted period of high inflation. His comments pushed the EUR/USD to a high at 1,5440.
The GBP/USD was steady at 1,9530 after the Bank of England left interest rates on hold at 5%. Economic data in Britain has reflected a weakening economy, with housing prices sliding rapidly and analysts said they expect the BoE to cut rates when it meets again in June.
Japan March leading economic indicator index falls to 20 from Feb’s 54,5. A reading above 50 suggests an economic expansion in the month ahead, while a reading below 50 suggests a contraction. In spite of this data the JPY rose 0,7% against the USD. Some market rumors say that a big Japanese bank sold foreign bonds to buy Japanese government bonds (JGBs). This talk helped to push the USD/JPY lower.
Technical analysis
EUR/USD
After the ECB let the interest rate unchanged the market rose up and quotes over the level at 1,5400. This mark seems to be a key level because it developed to a strong support level after the currency crossed it the first time at the beginning of March. The comeback over the level could expect a short recovery phase.
GBP/USD
Also the BoE does not change its interest rates. The first time since end of March the currency pair broke through the strong support at 1,9600. Because the GBP quotes under this level and the past down trend could be a further ongoing down trend.
| Currency | Support 2 | Support 1 | Pivotpoint | Resistance 1 | Resistance 2 |
| EUR / USD | 1,5221 | 1,5313 | 1,5377 | 1,5469 | 1,5533 |
| USD / JPY | 102,45 | 103,09 | 104,02 | 104,66 | 105,59 |
| GBP / USD | 1,9437 | 1,9493 | 1,9556 | 1,9612 | 1,9675 |
| USD / CHF | 1,0393 | 1,0450 | 1,0536 | 1,0593 | 1,0679 |
| AUD / USD | 0,9304 | 0,9372 | 0,9414 | 0,9482 | 0,9524 |
| CAD / USD | 1,0043 | 1,0108 | 1,0143 | 1,0208 | 1,0243 |
| NZD / USD | 0,7607 | 0,7663 | 0,7744 | 0,7800 | 0,7881 |
| EUR / AUD | 1,6177 | 1,6242 | 1,6324 | 1,6389 | 1,6471 |
| EUR / CAD | 1,5364 | 1,5516 | 1,5600 | 1,5752 | 1,5836 |
| EUR / CHF | 1,6122 | 1,6154 | 1,6201 | 1,6233 | 1,6280 |
| EUR / GBP | 0,7794 | 0,7836 | 0,7863 | 0,7905 | 0,7932 |
| EUR / JPY | 157,74 | 158,72 | 159,99 | 160,97 | 162,24 |
| GBP / CHF | 2,0368 | 2,0452 | 2,0584 | 2,0668 | 2,0800 |
| GBP / JPY | 200,87 | 201,84 | 203,28 | 204,25 | 205,69 |
| Date | Time (GMT) | Economic Indicator | Last |
| 09.05.2008 | 11:00 | CAEmployment change | 14,6 |
| 09.05.2008 | 11:00 | CAUnemployment rate | 6,0 |
| 09.05.2008 | 12:30 | USInternational trade, $ | -62,32 |
| 09.05.2008 | 12:30 | CAExports C$ | 39,32 |
| 09.05.2008 | 12:30 | CAImports C$ | 34,39 |
| 09.05.2008 | 12:30 | CATrade balance C$ | 4,94 |
| 09.05.2008 | 14:30 | USECRI weekly annualized | -8,7 |
Published on Fri, May 9 2008, 08:45 GMT
Archive
- The USD/JPY trades near flat of around 88.82 after opening at 88.84
Published On Mon, Nov 23 2009, 10:10 GMT - Investors and economists don't expect an interest rate change by the Federal Reserve
Published On Fri, Nov 20 2009, 10:32 GMT - The EUR fell also against the JPY as it reached the low at 132.80
Published On Thu, Nov 19 2009, 10:13 GMT - During November, the GBPUSD has been moving along the Andrws' Pitchfork
Published On Wed, Nov 18 2009, 10:01 GMT - The USD/CAD has established a support level of around 1.0430
Published On Tue, Nov 17 2009, 10:27 GMT
Varengold Wertpapierhandelsbank AG
| Große Elbstraße 27, 22767 Hamburg
http://www.varengold.de/ | info@varengold.de
Legal disclaimer and risk disclosure
This document is issued and approved by Varengold WPH Bank AG. The document is only intended for market counterparties and intermediate customers who are expected to make their own investment decisions without undue reliance on the information set out within the document. It may not be reproduced or further distributed, in whole or in part, for any purpose. Due to international laws/regulations not all financial instruments/services may be available to all clients. You should have informed yourself about and observe any such restrictions when considering a potential investment decision. This electronic communication and its contents are intended for the recipient only and may contain confidential, non public and/or privileged information. If you have received this electronic communication in error, please advise the sender immediately, and delete it from your system (if permitted by law). Varengold does not warrant the accuracy, completeness or correctness of any information herein or the appropriateness of any transaction. Nothing herein shall be construed as a recommendation or solicitation to purchase or sell any financial product. This communication is for informational purposes only. Any market or other views expressed herein are those of the sender only as of the date indicated and not of Varengold. Varengold reserves the right to consider any order sent electronically as not received unless it is confirmed verbally or through other means.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.