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Forex Market Alerts

EUR/USD, GBP/USD Flows − Darling:G20 will not remove stimulus too early; PM Hatoyama

Fri, Nov 6 2009, 07:23 GMT
by FXMarketAlerts Team

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Intraday Analysis from FXMarketAlerts.com

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Published at 07:13 (GMT) 06 Nov 

EURUSD

Focus on G20 for any FX comments, given the rising EUR (though off its 14-month highs of 1.5064), now about 2-big figures lower at 1.4865-70. Hearing Sovereign, real money offers at 1.4900/ 1.4920-50 - not surprised to hear Swiss supranational/ ENCBs offers and any complaints from Eurozone on strong EUR. UK Chan Alistair Darling, Host of the G20 meet in St Andrews, says G20 to agree not to remove economic stimulus too early. Global recovery is by no means established everywhere, and there is a lot of volatility in FX rates but G20 looking at medium to long term issues. Meanwhile Japan PM Yujio Hatoyama says Japan economy may worsen further. On FX, UK Chan Darling may also explain recent moves on Lloyds, and RBS to the rest of G20. EUR/USD bids at 1.4800 lows, while GBP at 1.6593-95, bids 1.6550/ 1.65.WL

Published on  Fri, Nov 6 2009, 07:29 GMT

Published with a minimum of 10 minutes delay.


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