日本語
Español
中文
- New York 15:39
- London 20:39
- Barcelona 21:39
- Tokyo 05:39
- Sydney 07:39
Daily FX Report
0
0
EUR mostly unchanged against the USD
Wed, Aug 13 2008, 13:09 GMT
by Varengold Bank Research Team
Varengold Wertpapierhandelsbank AG
Good morning from wonderful Hamburg and welcome to the Varengold Daily FX Report. The German athletes earned four gold medals yesterday and jumped from 19th place to 6th place in the Olympic medal standings. We hope for more good results in the next few days.
Market review
The EUR was mostly unchanged against the USD and traded at 1.4925 this morning, off the day’s low of 1.4885 and also off a six month low at 1.4815 hit on Tuesday. The USD’s sharp rebound benefited from a steep drop in oil and other commodity prices, while the USD regained strength against the EUR on clearer signs that growth is slowing in the euro zone. Last Friday the EUR suffered its biggest one day drop since January 2001.
The USD/JPY fell 0.6% further on the day to a low at 108.55, as the AUD/JPY and NZD/JPY started to drop more than 1 %. Australian Q2 wage growth increased 1.2 % from the previous quarter, above the median forecast of a 1.0 % increase. However, wage growth still remains below levels seen as a threat to inflation. The AUD was down 0.5% to a low of 0.8671 against the USD. The NZD/JPY hit a 2-year low of 73.87 and was going below the psychologically important level at 74.20. The NZD/USD decreased 0.3 % to 0.6912, after hitting an eleven month low of 0.6896 earlier in the day. Some traders said this was caused as Japanese investors dumped NZD on expectations that the currency will fall further.
EUR/GBP
For the last five months the EUR/GBP has traded in a horizontal trend channel with a resistance at 0.802 and a support level at 0.7777. After touching the resistance for the third time, the market started a bearish trend to its support line. Should the market break trough the support line, we could expect a longer term bearish trend.
GBP/CHF
Since the middle of April, the GBP/CHF has been trading in a horizontal trend channel. After touching the support level at 2.0063 for the third time, the market started to trade close to the resistance at 2.0816. If the market breaks trough the resistance, the market could establish an increasing trend.
Published on Wed, Aug 13 2008, 13:12 GMT
Archive
- The USD climbed to 90.62 versus the JPY
Published On Fri, Nov 6 2009, 11:08 GMT - The USD and the JPY climbed versus the EUR
Published On Thu, Nov 5 2009, 11:21 GMT - The GBP reached 0.8953 versus the EUR
Published On Wed, Nov 4 2009, 10:18 GMT - The USD gained against the JPY and reached 90.33
Published On Tue, Nov 3 2009, 10:25 GMT - The JPY increased to 80.80 against the AUD and even touched 79.47
Published On Mon, Nov 2 2009, 10:04 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.