Search
Market Session Recaps
0
0
Asia Session
Mon, Aug 25 2008, 07:20 GMT
by Forex.com Research Desk
The Asia session began the week with a move in Cable that proved to be the first domino in a series of currency moves that lifted the US Dollar to loftier heights. The proverbial spark in the powder keg was an option barrier at 1.8500 in GBP/USD, and once that gave way, the flood gates were open as the pair collapsed from 1.8502 to 1.8413 in a matter of mere minutes as stops were triggered in a holiday thinned UK market. The fall in GBP/USD continued later in the session to just a hair above 1.8400 as traders found little reason to buy the pair even at the discounted prices with the UK's GDP on Friday uninspiring at best, and the grim fact that growth has all but stalled a current reality. The new two year low in the pair reinforced Dollar buying across the board, anchored by a downturn in crude oil and gold prices. Even Warren Buffett, who usually has nothing good to say about the Greenback, is on board the Dollar rally, stating he had ''no bets against the Dollar''.
The EUR/USD followed the Pound lower, initially to a 1.4715 low, but just around lunch time in Asia, a new wave of stop losses pushed the pair to under 1.4700 to 1.4694. With a combination of lower oil and an anemic Euro Zone economy, the EUR/USD pair could continue to see pressure this week especially with German IFO and inflation data on the docket. Look for poor data to damage the Euro, as well look for any moves lower in oil to be once again a benefit for the Dollar.
With the price of crude oil dropping for its biggest daily decline since 2004 on Friday, in thanks to the faltering of Tropical Storm Fay, some Russian troop movement in Georgia and an overall decline in demand, Asian stocks all rallied as oil laid at $114.50 a barrel. USD/JPY popped back above 110.00 to reach a high of 110.27 as the Nikkei soared about 1.5% Japan's week will end with a ton of data on Friday, including unemployment, CPI and the BoJ's unveiling of a stimulus package to help business and consumers deal with the rocketing inflation. Information on the package is scarce, but it is said to be worth about 8 trillion Yen. There are no data releases in Europe today, and the UK is currently enjoying a bank holiday.
Published on Mon, Aug 25 2008, 07:21 GMT
Archive
- London Session
Published On Tue, Dec 2 2008, 13:13 GMT - Asia Session
Published On Tue, Dec 2 2008, 07:41 GMT - New York Session
Published On Mon, Dec 1 2008, 22:28 GMT - London Session
Published On Mon, Dec 1 2008, 13:18 GMT - Asia Session
Published On Mon, Dec 1 2008, 07:15 GMT
GAIN Capital Group
| 44 Wall Street, 7th Floor New York, NY 10005-2401
http://www.forex.com/ | info@forex.com
Legal disclaimer and risk disclosure
The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase of sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.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]
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.