http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/http://www.fxstreet.com/technical/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-10-01.htmlToday’s comment Dear readers, We have decided to bring part of our financial news as live images. The result of our efforts can be seen at www.jyskebank.tv. Jyske Bank.dk will still bring financial news but FX & Money Markets Daily will not longer be published as text. Instead you will be able to FX news on jyskebank.tv (until further notice, only in Danish). At jyskebank.tv you can be notified when new features within certain subject areas are available. Notification can also take placeWed, 01 Oct 2008 08:31:47 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-10-01.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-30.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Have the US politicians been playing parcel dice game all last week?! You can almost imagine the politicians sitting at their tables in Congress rolling the dice: “1, 2, 3, 4, or 5 the financial markets get the package, 6 they don’t”. Rolling 1- 5s (with an occational 6) all week and in the last game before the vote it was a 1-5. And then some politician who has no understanding of what is going on throws out “Hey Guys,Tue, 30 Sep 2008 08:50:52 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-30.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-29.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team The rescue plan was on Friday without doubt the dominating theme in the financial markets. It soon became clear that the authorities would not be able to finish the plan before the weekend and it had a disappointing effect among market participants. However, on Sunday congressional leaders agreed on a draft that will allow the US Treasury to buy up to $700 billion of troubled debt securities from the banks. The plan will beMon, 29 Sep 2008 06:16:05 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-29.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-26.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Yesterday stock markets rose as negotiations in the US Congress on the infamous 700 bn USD bank bail out plan looked promising. However all hope of an impending solution was lost as negotiations fell flat after a meeting in the White House between President Bush and the presidential candidates. At the meeting the Republican candidate John McCain supposedly threw his support behind an alternative suggested solution proposedFri, 26 Sep 2008 07:00:15 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-26.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-25.htmlToday’s comment Majors & Scandies By the Majors & Scandies Team The Norwegian central bank kept its key policy rate at 5.75% at yesterday’s rate announcement. The decision was widely expected by the market (and us) and the projections of the key policy rate was also kept steady. The Norwegian currency has together with the Swedish been under pressure since the credit crisis escalated a few weeks back, but regained strength shortly when the central banks intervened and when the “rescueThu, 25 Sep 2008 07:13:59 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-25.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-24.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Sentiment was mainly negative on Tuesday as investors seem to worry that Congress will stonewall negotiations on the historical 700 USD plan aimed at bailing out the distressed banking system. Thus the major stock indices slid for the second day in a row, and front Eurodollar futures dropped by around 13 ticks as credit conditions tightened anew. This morning the Fed has announced that it has established a temporary swapWed, 24 Sep 2008 06:45:20 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-24.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-23.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Currently market participants have their attention directed firmly towards the unprecedented plan aimed at bailing out the financial sector in the US and prevent further devastating blows to the financial markets which in turn could have fatal consequences for the trembling US economy. So far it looks as though American tax payers will be picking up a bill amounting to a breathtaking 700 bn USD (at least) and as focus hasTue, 23 Sep 2008 06:45:24 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-23.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-22.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team OMG what a week we just had. What we experienced last week will most likely be in the history books of the future. Everything was flying around in a market with extreme volatility. We saw flight to quality in a magnitude rarely seen; investors were fleeing into US Treasuries selling risky assets and an instant later the central banks or the US Government intervened and euphoria was all over the place. During the weekend,Mon, 22 Sep 2008 07:03:48 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-22.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-19.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Yesterday the major central banks (FED, ECB, BOJ, BoE, BoC, and SNB) announced coordinated efforts to address the elevated pressure on the short-term US dollar funding. The FOMC opened swap lines to the other central banks to provide dollar funding for both term and O/N liquidity (ECB: $180 billion, SNB: $27 billion, BOJ: $60 billion, BoE: $40, and BoC: $10 billion). The immediate reaction in the market was relief, but itFri, 19 Sep 2008 06:24:28 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-19.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-18.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team We were witnesses to a European session with a relatively positive undertone, however, that sentiment vanished quickly when the Americans started hitting the numbers on their keyboards. Stocks went into negative territory, JPY and CHF rebounded versus both the dollar and the euro and as did the euro versus the dollar. NASDAQ and S&P500 closed down almost 5%, which does not happen very often. The TED spread (3-month USDThu, 18 Sep 2008 06:20:18 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-18.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-17.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Some relief sentiment has entered the market as the U.S. Government agreed to rescue mortgage insurer American International Group (AIG) with a $85 billion loan from the Federal Reserve of New York. The U.S. Government will in return receive an 80% stake equity interest in AIG and can veto any dividend payments to common and preferred shareholders. Barclays has announced that it has agreed to buy Lehman Brothers NorthWed, 17 Sep 2008 06:12:10 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-17.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-16.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Yesterday European stock markets took a nosedive after the disturbing news of the collapse of Lehman Brothers, Bank of America’s purchase of Merrill Lynch and the problems surrounding the insurance giant AIG. Credit spreads widened massively and the liquidity injections made by both the ECB, the BoE and the Fed seemed to do little to ease tensions. Thus in the deposit market the O/N USD rate - which traded around 2,50% asTue, 16 Sep 2008 06:19:05 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-16.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-15.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team All weekend the Federal Reserve and the SEC have been working with a team of the largest banks in the world in an effort to resolve the Lehman Brothers situation. The two most likely bidders, Bank of America and Barclays, walked away this morning and Lehman has officially filed for Chapter 11 bankruptcy. Lots of sellers in the market but no buyers…However, Bank of America did not walk away without purchasing something asMon, 15 Sep 2008 07:17:53 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-15.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-12.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Worries about the health of the financial sector in general and troubled US bank Lehman Brothers in particular dominated market sentiment on Thurdays. Stocks and interest rates fell for most of the day before making a remarkble turnaround late last night on market rumours that US authorities and the Federal Reserve are involed in a possible sale of Lehman to one or several US banks. Apparently the deal is planned to beFri, 12 Sep 2008 06:37:53 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-12.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-11.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team The tough get going. The fx market is for sure no kids game any more. The dollar keeps brushing all other currencies aside without looking in the rear view mirror. EUR/USD managed overnight to break through the psychological threshold at 140 triggering another bout of stop loss orders in the market. The next major support area will be coming in between 138.00 - 138.40. Risk aversion is therefore thrieving in general.Thu, 11 Sep 2008 07:04:11 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-11.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-10.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Once again yesterday turned out to be a bumpy ride in the rollercoaster, with especially EUR/USD, EUR/CHF and EUR/JPY showing extremely high intraday volatility. Whether you like it or not the latest strong downtrend in EUR/USD seems unable to loose momentum and the dollar continues to climb higher against all currencies. The psychological support level at 140 in EUR/USD seems within reach and a coming test seems veryWed, 10 Sep 2008 07:11:08 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-10.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-09.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Although I have been in the fx-business for many year I'll have to admit that the recent huge waves of volatility in the fx-market are astonishing. The dollar keeps on climbing higher and higher despite major financial events like the Treasury's bail out of Fannie Mae and Freddie Mac over the weekend. After a first jump higher the EUR/USD quickly sobered up and returned to the vehement new downtrend dragging EUR/USD to newTue, 09 Sep 2008 06:59:07 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-09.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-08.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team And so the U.S. Treasury and the Federal Reserve managed to save the world once again. This Sunday they announced a bailout of the two mortgage giants Fannie Mae and Freddie Mac, which own or guarantee almost half of the entire $12 trillion in outstanding mortgage debt in the US. Treasury Secretary Henry Paulson and FHFA Director James Lockhart argued that the US economy and the financial markets will not recover until theMon, 08 Sep 2008 06:26:30 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-08.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-05.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Hey guys! –this is a wake-up call to all of you who think this looks like attractive levels to obtain further FX funding. Take a look at what is going on at the moment: Virtually all stock indices in the world fell by 3% yesterday. How often does that happen? EURJPY was down by almost six (6!) figures yesterday. How often does that happen? EURCHF has left the building! –meaning that it has left the safe-old territory ofFri, 05 Sep 2008 06:36:10 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-05.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-04.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team One down - three to go The first central bank to leave rates unchanged this week was Bank of Canada on Tuesday. USD/CAD was dragged to a one year high at 107.77 but as the meeting got closer participants lost their nerve and sent the currency pair lower again. Immediately after the BoC-non-event CAD strengthened even further out of pure disappointment. The first central bank on the scene today will be Riksbanken, whoseThu, 04 Sep 2008 06:44:08 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-04.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-03.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Japanese loosing their nerves Apparently Mr. & Mrs. Japan - also known as Mr. & Mrs. Watanabe - are finally starting to loose their nerves. Looking at the recent market moves in the fx-market it certainly looks like it. The yen keeps climbing steadily higher whereas both AUD and NZD are diving rapidly. In their hunt for higher yields especially the Japanese retail investors have been looking towards Australia andWed, 03 Sep 2008 06:52:28 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-03.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-02.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Yen on the rise The yen finally managed to break below the psychological threshold at 160 thereby leaving all major moving averages behind. Consequently, the cross is now closing in on our short term target at 156. The break to the downside does, however, mean that the 8 year long uptrend on EUR/JPY is about to crumble should EUR/JPY stay below 161 - 162. A new downtrend on EUR/JPY would mean that much lower levels will beTue, 02 Sep 2008 07:02:18 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-02.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-01.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team The British pound was hit massively this morning as Chancellor of the Exchequer Alistair Darling told the Guardian newspaper that the British economy might face the worst downturn in 60 years. After a long period where the bad news out of the UK have not really affected the pound, the news flow once again affects the British currency. The pound will in the short-term most likely be hit further by the continued flow of badMon, 01 Sep 2008 06:27:09 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-09-01.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-29.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team The British pound was yesterday under pressure from the beginning of the session as nationwide house prices once again fell to a new low. GfK consumer confidence was no good either early this morning, but at least it was a bit better than expected. At present the EURGBP cross looks a bit toppish, but momentum is still point upwards and with the euro performing at the moment, we prefer not to initiate a new short strategy inFri, 29 Aug 2008 06:20:56 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-29.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-28.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Yesterday proved that the euro is not quite ready to throw in the towel just yet. Axel Weber & friends, notorious hawks, were on the wires yesterday talking the usual hawkish talks. At first it seemed a bit surprising that the market reacted that aggressively on especially a speech from the well-known über-hawk aus Deutschland Axel Weber, but it might have been just what the market had been waiting for since Trichet wasThu, 28 Aug 2008 06:16:03 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-28.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-27.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team The dollar rallied in the European trading session as the German IFO survey was unexpectedly soft. EURUSD fell almost a full figure on the back of the IFO release. Our first reaction was that such a move was not justified by the IFO release alone, but it does inevitable say something about the market sentiment and something about in which direction the arrow is pointing at the moment. This made us initiate a short strategyWed, 27 Aug 2008 06:26:11 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-27.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-26.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Yesterday was a very quiet session since London was visiting the local pubs on a bank holiday. The euro traded with a soft undertone most of the day and weakened marginally against most currencies. None of the currency pairs we follow has breach any significant resistance or support levels during yesterday’s trading. The most interesting pair was NZDUSD, which fell on a larger than expected trade deficit (11-month high).Tue, 26 Aug 2008 06:15:31 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-26.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-25.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team According to CFTC Commitments of Traders, the speculative investors increased their combined long USD position by 3.5 billion (12.7 billion versus 9.2 billion last week). It is especially versus the yen, the Swiss franc, and the pound the speculative investors have become more bullish on the dollar whereas the EURUSD contracts have changed by a relatively low number. Since Tuesday when the data was collected the euro seemsMon, 25 Aug 2008 06:09:41 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-25.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-22.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team The USD fell the most against the EUR in more than a month in yesterday’s trade. The move was primaryly caused by speculation regarding further writedowns in the financial sector and an increase in crude oil prices. EURUSD is currently testing levels around the highs of November ’07 and January-February ’08 and technical indicators suggest that momentum is on the upside. Thus at this point a test of 150 seems within reach.Fri, 22 Aug 2008 06:22:19 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-22.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-21.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team The minutes from the MPC meeting at the BoE earlier this month showed that seven members voted in favour of leaving the bank rate unchanged whereas one (not surprisingly Tim Besley) voted in favour of a hike, and one (just as unsurprisingly David Blanchflower) voted in favour of a cut. The most interesting about the minutes was the distribution of votes since the inflation report last week highlighted the basis forThu, 21 Aug 2008 06:14:10 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-21.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-20.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Yesterday sentiment in the financial markets was somewhat downbeat and market participants didn’t seem to take too much comfort in the fact that the German ZEW index for August came in above consensus estimates. Although higher than expected the index didn’t paint an optimistic picture of the outlook for the German economy in the coming months. Furthermore as data showed that US producer prices grew at the fastest pace inWed, 20 Aug 2008 06:54:40 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-20.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-19.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team The dollar fluctuated with commodity prices in a largely uninspiring session. The dollar index (DXY) and the trade-weighted dollar index (TWI USD) were more or less unchanged at the end of the day. Bank of Japan kept its target rate at 0.50% at this morning’s rate announcement as widely expected. The economic outlook was at the same time lowered its forecast for the economic outlook as growth is expected to be sluggish dueTue, 19 Aug 2008 06:31:09 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-19.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-18.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Speculators once again increased their net long positions in the dollar according to CFTC Commitments of Traders. It is in line with what we have seen in the FX market the last 1½ week and I would not surprise us if the speculators are actually longer in the dollar than what the numbers indicate as they are collected Tuesday of last week. Speculators have sold almost 10.000 additional EURUSD-contracts compared to the weekMon, 18 Aug 2008 06:33:42 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-18.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-15.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Yesterday further bad news emerged from the Euro Zone. Thus data showed that that Euro Zone GDP fell by 0.2% in the second quarter of 2008 – the first contraction in the economy since the Euro was introduced almost 10 years ago. Hence speculation of a recession in the Euro Zone is gaining momentum for real and speculation of rate cuts from the ECB in the first half of ’09 is growing. On top of that data from the other sideFri, 15 Aug 2008 06:41:25 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-15.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-14.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team The pound ended up in the centre of attention after BoE made the inflation report public. The report indicates that the bank rate will be lowered further and that the inflation in the medium-term will fall back to levels below the target level at 2%. BoE lowered their growth expectations compared to the report from May and is now expecting that growth will be flat during the next year. In the short term, the BoE now expectsThu, 14 Aug 2008 06:31:31 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-14.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-13.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Stocks in the US fell yesterday as JP Morgan Chase said that it is facing another 1.5 billion USD loss for the quarter so far, as the wider credit spreads, lower levels of liquidity and the turmoil in credit and mortgage markets continue to take its toll on the bank. The sour sentiment rubbed off on markets in Asia where the Nikkei is currently down by more than 2%. Thus the outlook for today’s European trading seems ratherWed, 13 Aug 2008 06:13:26 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-13.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-12.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Yesterday we saw a short rally in EURUSD early in the European trading session. However, the gains made by the euro disappeared rather quickly as the dollar rallied again and extended its gains it has made over the last few weeks late in the US trading session on further weakness in oil and commodities. There are currently two cases going on in the FX markets: the euro game and the dollar game. We are witnesses to a broadTue, 12 Aug 2008 07:46:40 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-12.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-11.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team What we have seen the last few days before the weekend has been a major shift in market sentiment (or beliefs) regarding USD and EUR. Focus has shifted from inflation fears to growth fears. The dollar has made a significant rebound since mid-July, but the dollar rally has really gained speed since the beginning of last week and as Mr. Trichet expressed concerns about growth in the Eurozone. It is not just against the euroMon, 11 Aug 2008 06:47:01 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-11.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-08.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team The EUR slumped to a six month low versus the USD in the wake of Trichet’s comments following the monetary policy meeting in the European Central Bank where rates were left unchanged at 4.25%. Although the ECB president stressed that the central bank’s primary mandate is inflation targeting he did paint a rather discouraging picture of prospects for economic growth and did seem a bit more concerned in this respect thanFri, 08 Aug 2008 06:20:44 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-08.htmlhttp://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-07.htmlToday’s comment Majors & Scandies By the Majors & Scandis Team Overall, we were yesterday witnesses to a session where the commodity currencies (AUD, NZD, and CAD) and the yen were sold. The short term rates fell in the Eurozone as the market is beginning to expect a more dovish statement from Trichet than what has been the case a few weeks back. Swedish krona strengthened as an Australian bank was mentioned as seller of a large AUDSEK order. Today is the day we have all been waitingThu, 07 Aug 2008 06:44:31 GMThttp://www.fxstreet.com/technical/forex-strategy/jyskebank@jyskebank.dk (Jyske Bank)http://www.fxstreet.com/technical/forex-strategy/daily-forex-research/2008-08-07.html