Premium
- New York
- London
- Barcelona
- Tokyo
- Sydney
Search
0
0
Daily Market Outlook
Thu, Jul 10 2008, 03:42 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 - 09/07/2008 20:14 GMT
The greenback falls broadly on negative global sentiment
The greenback fell against the euro on Wednesday on the news that Iran
test-fired nine missiles, which halted steep drop in oil prices, and
also on fears that the losses at Fannie Mae and Freddie Mac (the
largest U.S. home loans company) will deepen. The negative global
sentiment toward the greenback and drop in stocks market (DJI tumbled
236.77 and closed at 11,147.44) caused investors to seek out safe-haven
currencies such as the Japanese yen and Swiss franc. On Wednesday, the dollar fell against the euro and British pound to 1.5750 and 1.9834 respectively whilst Japanese yen and Swiss franc advanced versus both dollar and euro as investors shed their holdings of high-yielding assets that were funded by low-yielding loans. The Japanese yen rose to 106.67 against the dollar and 168.00 versus the euro. Swiss franc also strengthened versus dollar and euro to 1.0280 and 1.6180 respectively in New York session.
On the other side, oil recovered some of Tuesday's sharp drop with U.S. crude oil prices gaining nearly $2 to rise above $138 a barrel, before settling at $135.62 a barrel at the closing. Pressure on the U.S. currency was also exerted by lingering fears of more credit-related write-downs at some financial institutions. The New York Board of Trade's dollar index, which tracks the dollar's performance against six currencies, fell to a session low of 72.574.
On Thursday, economic data releases include Japan Domestic CGPI, trade balance and current account, Australia unemployment rate and employment change, U.K. Halifax house prices, U.K. Bank of England’s rate decision, and U.S. jobless claims. ECB will publish their monthly report at 8:00GMT whilst Federal Reserve Chairman Ben Bernanke and U.S. Treasury Secretary Paulson testify at 14:00GMT, and later on at 17:45, ECB President Jean-Claude Trichet will speak at Munich.
**********************************************************
Published on Thu, Jul 10 2008, 05:15 GMT
Archive
- Daily Market Outlook
Published On Mon, Oct 6 2008, 08:50 GMT - Daily Market Outlook
Published On Mon, Oct 6 2008, 06:03 GMT - Daily Market Outlook
Published On Mon, Oct 6 2008, 02:49 GMT - Daily Market Outlook
Published On Mon, Oct 6 2008, 00:27 GMT - Daily Market Outlook
Published On Thu, Oct 2 2008, 01:03 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!
FXstreet.com will give you a 3 months membership as soon as minimum rebates have been generated (€150 for private trader/ €300 for corporate trader)
[Read Premium full description]
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.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management.
Risk Disclosure: 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 invest in 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.
©2008 "FXstreet.com. The Forex Market" All Rights Reserved.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management.
Risk Disclosure: 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 invest in 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.
©2008 "FXstreet.com. The Forex Market" All Rights Reserved.