日本語
Español
中文
- New York 16:39
- London 21:39
- Barcelona 22:39
- Tokyo 06:39
- Sydney 08:39
0
0
Daily Market Outlook
Fri, Aug 29 2008, 01:12 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 - 28/08/2008 21:42 GMT
Dollar strengthens versus euro on robust U.S. GDP data
The greenback rose against the euro and climbed to a 2-year high versus
the British pound on Thursday, buoyed by robust data showing that the
U.S. economy grew at a faster pace in the second quarter than first
reported. The dollar also trimmed its losses versus Japanese yen due to
a rally in U.S. stock markets, which led by industrial and financial
companies and a decline in oil prices. According to Thursday's report, the U.S. gross domestic production grew at a 3.3 percent annual rate in the second quarter compared with the forecast of 1.9 percent, bolstered by consumer spending and exports. The report prompted investors to buy back the dollar, with the greenback also supported by the rally in U.S. stock markets and the fall in oil prices midway through the New York session. The Dow Jones Index rose more than 1.85 percent and ended up 212 points to 11,715 whilst crude oil prices for October delivery closed $2.52 lower per barrel to $115.63 by the end of New York session.
The dollar index was up more that 0.1 percent at 77.150, near the 2008 high of 77.619 hit earlier this week while the greenback also rebounded from its session low of 108.78 versus the Japanese yen to 109.50. The dollar strengthened versus the signal currency soon after the release of U.S. data and rose from its intra-day low of 1.4812 to 1.4671.
Data from the U.K kept sterling under pressure on Thursday as house prices in August reported the biggest annual price fall for 17 years while retail sales posted the steepest drop since records began a quarter of a century ago. The British pound dropped to a new two-year low of 1.8240 against the dollar and 0.8061 versus the euro before rebounding in late U.S. session, ending at 1.8295 and 0.8038 respectively at New York closing.
In other currencies, the Australian dollar and the South African rand were the best performers against the U.S. dollar on Thursday. The aussie rose to as high as 0.8694 after the Bureau of Statistics said second-quarter capital spending increased 5.7 percent. South Africa's rand climbed for a second straight day to 7.7270 versus the dollar as precious metals advanced, which accounted for the largest exports of its nation. The spot gold rose 0.9 percent to $834.20 an ounce while platinum added 2.3 percent to $1,476 an ounce.
On Friday, economic data releases include U.K. Gfk survey, Japan Manufacturing PMI, household spending, National CPI, Tokyo CPI, unemployment rate, industrial production, retail sales, construction orders and housing starts, eurozone’s HICP flash, unemployment rate, business climate and economic sentiment, Switzerland KOF indicator, U.S. core PCE and PCE index, personal income and spending, Chicago PMI and the University of Michigan survey.
**********************************************************
Published on Fri, Aug 29 2008, 02:15 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.