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Daily FX Report
The USD climbed to 90.62 versus the JPY
Fri, Nov 6 2009, 11:08 GMT
by Varengold Bank Research Team
Varengold Wertpapierhandelsbank AG | View company's profile
Good morning from Hamburg and welcome to our last FX Report of this week. The AUD climbed against its most major counterparts and the government spoke about a faster recovery from the financial crisis as expected. We wish you much success and have a nice weekend.
Market review
The USD headed for a weekly loss versus the EUR and reached 1.4877 before a U.S. government report forecast to show that U.S. employers cut fewer jobs last month. This increases the demand for higher yielding assets. Against the JPY, the EUR traded at 134.82 before a German report forecast that the factory orders rose in September for a seventh month. The USD climbed to 90.62 versus the JPY. This week, the JPY lost 0.6 % against the USD. The AUD rose versus 15 of its 16 major counterparts after the central bank from Australia said that the recovery from the financial crisis is three times faster as a national report predicted in August 2008.
In Europe the Central Bank President Jean-Claude Trichet said that they won`t to extend the 12 months loans for commercial banks to support the European recovery as a sign that the banks recovered and have no needs for loans. Also the European Central Bank kept its benchmark rate at 1 %.
AUD/NZD
Since the beginning of October, the AUD has been trading in a bullish trend against the NZD. The currency pair tried to cross its Pivot point at 1.2652, but it remains to make sure if the breakthrough is successful like a few days ago. Furthermore a crossing MACD through the signal line from below may indicate that the AUD could continue its bullish trend against the NZD.
AUD/JPY
With the ending of October, the AUD changed its bullish trend and has been trading in a bearish trend channel against the JPY. Every time when the AUD tried to cross the upper trend channel line, the market rebounded, during the last 2 weeks. Also it seems that the MA Oscillator could support the movements with a breakthrough of the signal line from the top.
Published on Fri, Nov 6 2009, 11:13 GMT
Varengold Wertpapierhandelsbank AG
http://www.varengold.de/ | info@varengold.de
Archive
- The EUR/USD is continuing the bearish trend from last week
Published On Mon, Mar 22 2010, 10:15 GMT - The USD/JPY closed nearly unchanged at 90.45 after opening at 90.37
Published On Fri, Mar 19 2010, 10:21 GMT - The CAD expanded its gains against the USD and approaches the parity level
Published On Thu, Mar 18 2010, 10:59 GMT - The CAD rose to the strongest level in almost two-years against the USD
Published On Wed, Mar 17 2010, 09:55 GMT - The euro-zone still hopes that Greece's budget cuts will make a bailout unnecessary
Published On Tue, Mar 16 2010, 10:10 GMT
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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