日本語
Español
中文
Русский
- New York 15:30
- London 20:30
- Barcelona 21:30
- Tokyo 05:30
- Sydney 07:30
Daily Analysis
0
0
AIG is rescued by the Government with an $85 billion Fed Loan
Wed, Sep 17 2008, 10:33 GMT
by Benny Menashe
| EUR/USD | USD/JPY | GBP/USD | USD/CHF | |
| 1.448 | 108.45 | 1.8035 | 1.14 | |
| Resistance | 1.444 | 108.05 | 1.8005 | 1.128 |
| 1.4325 | 106.9 | 1.798 | 1.125 | |
| 1.4075 | 105.15 | 1.7735 | 1.116 | |
| Support | 1.3975 | 103.55 | 1.771 | 1.105 |
| 1.3885 | 103.1 | 1.754 | 1.101 |
American International Group averted the worst financial collapse in history by accepting an $85 billion federal loan and giving the government a majority stake, 80%. The U.S. reversed its opposition to a bailout of AIG, the nation's biggest insurer by assets, after private efforts failed and the Federal Reserve concluded that ``a disorderly failure of AIG could add to already significant levels of financial market fragility,'' according to a Fed statement late yesterday. ``It's an enormous relief,'' said David Havens, credit analyst for UBS AG in Stamford, Connecticut. ``Nobody really knows what it would have meant if they would have been allowed to fail, but there was an enormous amount of systemic risk. The problem was, nobody really knew how bad it could have been.''
The sterling fell against the euro and was little changed versus the dollar before the Bank of England publishes minutes of its latest interest-rate meeting and a government report that may show jobless-benefit claims rose. ``The MPC minutes to be released today take on added importance in light of the mounting financial risks to the U.K.,'' a team headed by New York-based Gabriel de Kock, senior currency strategist at JPMorgan Chase & Co., wrote today in a report. ``Should the minutes show little sign of flexibility that would allow a rate cut soon, euro-pound could retrace some of the past fortnight's decline.'' The MPC minutes were called at 1-8 to hold. The GBP/USD is currently trading at $1.7825 as of 8:33am, GMT.
The Japanese JPY dropped versus the Australian dollar on speculation an AIG rescue will encourage investors to take out loans in Japan to buy higher- yielding assets overseas. The yen jumped the most in a decade against the dollar on Sept. 15th as mounting credit-market losses forced Lehman Brothers Holdings Inc. to file the biggest bankruptcy in history, sparking global stock turmoil. The USD/JPY is currently trading at 105.50 as of 8:14am, GMT.
Today's Economic Events
| Time | Event | Currency | Period | Previous | Forecast | Significance | Actual |
| 23:50 | Tertiary Industry Activity Index m/m | JPY | Jul | -0.80% | 0.40% | 2 | |
| 14:35 | Crude Oil Inventories | USD | -5.9M | 2 | |||
| 12:30 | Building Permits | USD | Aug | 0.94M | 0.93M | 3 | |
| 12:30 | Current Account | USD | Quarterly | -176.4B | -179.4B | 2 | |
| 12:30 | Housing Starts | USD | Aug | 0.97M | 0.96M | 2 | |
| 10:00 | CBI Industrial Trends Orders | GBP | Sep | -13 | -13 | 2 | |
| 9:00 | ZEW Expectations | CHF | Sep | -79.6 | 2 | ||
| 9:00 | Trade Balance | EUR | Jul | -0.1B | 2 | ||
| 8:30 | MPC Meeting Minutes | GBP | 2 | ||||
| 8:30 | Claimant Count Change | GBP | Aug | 20.1K | 20.0K | 3 | |
| 8:30 | Average Earnings Index +Bonus q/y | GBP | Jul | 3.40% | 3.40% | 2 | |
| 8:30 | Unemployment Rate | GBP | Jul | 5.40% | 5.40% | 2 | |
| 4:45 | Interest Rate Statement | JPY | Sep | 0.50% | 4 | 0.50% |
Published on Wed, Sep 17 2008, 10:46 GMT
Archive
- The Dollar weakens as investors see the Fed maintaining stimulus
Published On Mon, Nov 23 2009, 09:13 GMT - The Dollar advances as global stocks fall and investors look for safety
Published On Fri, Nov 20 2009, 08:20 GMT - The Dollar rises as U.S economic outlook looks bleak and investors go for safety
Published On Wed, Nov 18 2009, 07:55 GMT - Sterling rises as investors await the BOE inflation report
Published On Tue, Nov 17 2009, 07:04 GMT - The Dollar surges as U.S stocks plummet and investors look for safety
Published On Fri, Nov 13 2009, 10:11 GMT
Finotec
| Global financial trading center, 1 Grivas Digheni and Chrysanthou, 3035 Mylona P.O.B 58007, Limassol
http://www.finotec.com/ | support@finotec.com
Legal disclaimer and risk disclosure
FINOTEC Trading’s Market Commentaries are provided for informational purposes only. The information contained within these reports is gathered from reputable news sources and not intended as investment advice. FINOTEC Trading assumes no responsibility or liability from gains or losses incurred by the information herein.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.