Search
0
0
Daily Market Outlook
Tue, Oct 14 2008, 00:27 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 - 13/10/2008 17:56 GMT
Euro rallies as European leaders agree to guarantee bank borrowing
The single currency rallied against the greenback and the Japanese yen to 1.3685 and 138.80 respectively on Monday as European leaders agreed to guarantee bank borrowing. European policy makers pledged to guarantee until the end of 2009 bank-debt issues with maturities of up to five years. France, Germany, Spain and Austria committed 1.1 trillion euros to guarantee bank loans and take stakes in lenders after the G-7 meeting over the weekend, while Federal Reserve announced unlimited dollar auctions.
The greenback rose against the Japanese yen from 99.56 to 102.20 due to the rally in global stock markets, prompting investors to sell the Japanese currency to buy high-yielding assets. Dow posted its best gain yesterday and closed 936 points higher. Aussie and sterling rallied from 65.22 to 71.43 and from 168.77 to 177.67 against the Japanese yen respectively. The British pound strengthened from 1.6924 to 1.7442 as the U.K. government said it will invest 37 billion pounds in Royal Bank of Scotland Group Plc, HBOS Plc, and Lloyds TSB Group.
The Australian dollar gained against U.S. currency from 0.6547 to 0.7001 after the government guaranteed all bank deposits for three years while the U.S. currency fell against the Canadian dollar from 1.1795 to 1.1470 after last week’s 7.7% drop, its biggest weekly decline in 37 years. Canadian Finance Minister Jim Flaherty said the government will shore up the nation's banks by taking on some of their mortgages.
Tuesday will see the release of U.K. RICS house prices and BRC retail sales, Japan’s domestic CGPI, consumer confidence, U.K. CPI and RPI, German ZEW index, eurozone ZEW survey and industrial production.
**********************************************************
Published on Tue, Oct 14 2008, 00:29 GMT
Archive
- Daily Market Outlook
Published On Tue, Dec 2 2008, 01:33 GMT - Daily Market Outlook
Published On Mon, Dec 1 2008, 00:29 GMT - Daily Market Outlook
Published On Fri, Nov 28 2008, 00:21 GMT - Daily Market Outlook
Published On Thu, Nov 27 2008, 00:17 GMT - Daily Market Outlook
Published On Wed, Nov 26 2008, 00:13 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!
  Contact the broker/FDM Open a demo account |  Contact the broker/FDM Open a demo account  |  Contact the broker/FDM Open a demo account |  Contact the broker/FDM |  Contact the broker/FDM Open a demo account |
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.
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.
©2008 "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.
©2008 "FXstreet.com. The Forex Market" All Rights Reserved.