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Daily Market Report: Forex
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The Euro depreciated against most major currencies
Mon, Oct 6 2008, 16:54 GMT
by ICICI Bank Treasury Research Group
- • The Rupee fell to its lowest since February 2003 as equity markets plummeted and NDF arbitrage opportunities led to Dollar demand in the domestic spot market. The USD/INR pair ended at 47.82 from 47.07 on Friday.
- • The 6-month and 1-year forward premium was at -0.35% and 0.12% as compared at 0.44% and 0.57% on Friday.
- • The Euro depreciated against most major currencies after the unsuccessful attempt to formulate a coordinated bail out plan for European banks. The Yen gained as carry positions were unwound due to rising risk aversion. EUR/USD was at 1.3625 from 1.3815 on Friday and GBP/USD was at 1.7589 from 1.7622 on Friday. USD/JPY was at 103.43 versus 104.7 on Friday. *
*These levels are taken at 17:30 IST.
Published on Mon, Oct 6 2008, 16:56 GMT
Archive
- The Swiss franc fell to its lowest levels against the Dollar since August 2007
Published On Thu, Nov 20 2008, 16:11 GMT - The Sterling pared its gains against the Dollar
Published On Wed, Nov 19 2008, 16:09 GMT - The Dollar gained against major currencies except the Yen
Published On Fri, Nov 7 2008, 14:17 GMT - The Sterling pared its losses as the aggressive 150 bps rate cut
Published On Thu, Nov 6 2008, 15:26 GMT - The Sterling lost heavily overnight
Published On Tue, Nov 4 2008, 16:56 GMT
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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.
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