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Daily FX Report
6
0
The GBP/USD gained to 1.6626
Thu, Oct 22 2009, 09:21 GMT
by Varengold Bank Research Team
Varengold Wertpapierhandelsbank AG
Good morning from Hamburg and welcome. The EUR gained versus the USD and was able to cross the 1.5000 level. The EUR gained also against the most other counterparts. However, we wish you a successful trading day.
Market review
The USD traded near a 14 month low against the EUR and touched 1.5046, the weakest level since August 2008 as evidence of a global economic recovery damped the demand for the USD as a safe haven. The EUR climbed versus 10 of its 16 major counterparts before reports forecast to show that an index of the U.S. leading indicators increased and that the German business confidence improved. The EUR traded against the JPY near a 2 month high and reached 136.76 after reports showed that the exports from Japan fell at a slower pace in September. Therefore, many people started to invest in higher yielding assets overseas. The USD/JPY trades on the approximate level like yesterday and reached 91.03. The GBP/USD gained to 1.6626.
Yesterday the European Central Bank said that the euro zone economy appears to be recovering more quickly than in the U.S and Japan too. Also the Ifo institute`s climate index will support that with an increase so that the most investors expect a continuing gain for the EUR.
AUD/NZD
Since the beginning of October, the AUD has been trading in a bullish trend against the NZD. Now, the currency pair reaches the lower Bollinger Band. Four times before in October when it touched the lower line, the prices recovered and rose over the middle to the upper Bollinger Band. Furthermore, a crossing MACD through the signal line from below may indicate a recovering trend.
XAU/USD
With the beginning of October, the XAU has been trading in a bullish trend against the USD. Since two weeks, the XAU traded into a slow rising trend channel. During that time, the currency pair touched two times the bottom line from its trend channel and the prices recovered. Also a raising MA Oscillator may support a continuing bullish trend and a stable trend channel.
Published on Thu, Oct 22 2009, 09:37 GMT
Archive
- 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 - The CAD/JPY has been moving inside two trend channels
Published On Mon, Nov 16 2009, 10:15 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.Related reports
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