日本語
Español
中文
- New York 13:09
- London 18:09
- Barcelona 19:09
- Tokyo 03:09
- Sydney 05:09
0
0
Daily Market Outlook
Mon, Feb 25 2008, 06:23 GMT
by AceTrader Team
AceTrader 1-wk TRIAL
www.AceTraderFX.com 24-Hr Real-time Signals Consistent Performance Intra-day, Daily, Weekly. with Email Alerts Function Try 1-week for $25 USDMarket Review - 23/02/2008 00:03 GMT
Dollar falls broadly on rate outlook but trims losses on late U.S. stocks rally
The greenback fell broadly against major currencies on speculation the
Federal Reserve will continue to cut interest rates to avert a
recession while European policy makers will keep rates unchanged.
Interest-rate futures showed a 96% chance that the Fed will lower the
Fed's target rate by 50 basis points to 2.5% on March 18. The single currency extended gains against the dollar to a three-week high of 1.4863 after a report showed European service industries accelerated more than forecast in February. The eurozone service PMI rose to 52.3 in February, well above the expectation of 50.8 and the reading of 50.6 in January. The eurozone manufacturing PMI came in as expected at 52.3.
European Central Bank council member Athanasios Orphanides said the bank's ‘primary concern’ remains on ‘elevated inflation’. However, the single currency retreated briefly to 1.4792 in U.S. session on position adjustment ahead of the weekend together with cross unwinding in euro especially versus the Japanese yen on the initial selloff in U.S. stocks and then rebounded and closed at 1.4825 as U.S. stocks recovered all the losses and rallied in late trade after CNBC television reported that a bailout for bond insurer Ambac Financial Group Inc. was imminent and may be announced next week, causing financial shares to reverse losses.
The British pound rose from 1.9610 to 1.9710 before closing at 1.9670 on Friday. The greenback tumbled against the Swiss franc from 1.0919 to 1.0835 on risk aversion as investors bought chf across the board. Eur/chf fell sharply from 1.6168 to 1.6073. U.S. currency fell versus the Japanese yen from 107.58 to 106.71 and then trimmed losses on renewed cross selling in jpy on the late rally in U.S. stocks.
Australian dollar retreated briefly versus the U.S. currency from 0.9251 to 0.9178 before closing at 0.9225 on speculation that the Reserve Bank of Australia will raise borrowing costs by a quarter-point to 7.25% next month. New Zealand dollar rallied against the greenback from 0.7989 to 0.8103 (just below the record high of 0.8110 made in July 2007).
Next week will see the release of German import price and U.S. existing home sales on Monday; Japan’s CSPI, German GDP and Ifo index, U.K. CBI distribution trade, U.S. PPI, consumer confidence and house price index on Tuesday; German Gfk index, U.K. GDP, imports and exports, U.S. durable goods and new home sales on Wednesday; Japan’s industrial production and retail sales, German unemployment rate, U.S. GDP, personal consumption, core PCE and jobless claims on Thursday; Japan’s manufacturing PMI, Tokyo CPI, unemployment rate, housing starts and construction orders, German CPI and HICP, eurozone HICP, business climate and economic sentiment, U.K. Gfk survey, U.S. personal income, spending, Chicago PMI and University of Michigan survey on Friday.
***********************************************************
Published on Mon, Feb 25 2008, 07:27 GMT
Archive
- Daily Market Outlook
Published On Fri, Nov 6 2009, 00:26 GMT - Daily Market Outlook
Published On Wed, Nov 4 2009, 04:42 GMT - Daily Market Outlook
Published On Mon, Nov 2 2009, 01:00 GMT - Daily Market Outlook
Published On Tue, Oct 27 2009, 03:01 GMT - Daily Market Outlook
Published On Fri, Oct 23 2009, 06:25 GMT
Trendsetter Financial Markets Ltd.
| Room 1309 - 1311, 13/F., Tai Yau Building, No. 181 Johnston Road, Wan Chai, Hong Kong.
http://www.AceTraderFX.com | cs@acetrader.com
Legal disclaimer and risk disclosure
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.Interested in forex trading? forex brokerage firms!
GET CASH BACK FOR YOUR TRADES! Learn more about the Pip Rebate Program
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.
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.
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.