Market Session Recaps
0
0
London Session
Wed, Sep 17 2008, 13:23 GMT
by Forex.com Research Desk
The greenback weakened somewhat against the majors in London trading as the bailout of the US insurance giant failed to fully calm fears about the continued financial market turmoil. Indeed, the Fed lending as much as $85 billion to the troubled company prompted many investors to sell US bonds and the buck. Stocks overseas rallied with Asia and Europe both up about 1% as the bailout was viewed as positive there, given the alternative of a potential bankruptcy.
The JPY crosses were volatile once again with USD/JPY swinging about 100 pips before closing the session about -20 pips lower near the 105.85 mark. EUR/JPY moved about 130 pips from open to close but ended the session right where it started near the 150.25 area. GBP/USD was initially higher, into the 1.7970/80 area in the first half of London trading. Poor employment data -- with UK jobless claims jumping more than expected – helped nudge Cable lower, with the pair closing just 20 pips higher near the 1.7870 mark.
Oil prices inched higher in London as well, closing just above $94 after coming within pennies of the $95 mark. This put pressure on USD/CAD, taking the pair a little more than -40 pips lower towards 1.0655 at the close. Oil inventory data today (1435GMT) should elicit some price action in the commodity and we would expect some movement in USD/CAD on the follow.
Upcoming Economic Data Releases (NY Session):
- 9/17/2008 12:30 CA Int'l Securities Transactions JUL C$5.000 C$7.247
- 9/17/2008 12:30 US Current Account Balance 2Q -$179.4B -$176.4B
- 9/17/2008 12:30 US Housing Starts AUG 950K 965K
- 9/17/2008 12:30 US Building Permits AUG 925K 937K
- 9/17/2008 14:35 US DOE U.S. Crude Oil Inventories 12-Sep - - -5828K
- 9/17/2008 14:35 US DOE U.S. Gasoline Inventories 12-Sep - - -6462K
- 9/17/2008 14:35 US DOE U.S. Distillate Inventory 12-Sep - - -1252K
Published on Wed, Sep 17 2008, 13:25 GMT
Archive
- New York Session
Published On Thu, Jan 8 2009, 22:40 GMT - London Session
Published On Thu, Jan 8 2009, 06:22 GMT - Asia Session
Published On Thu, Jan 8 2009, 06:13 GMT - New York Session
Published On Wed, Jan 7 2009, 22:26 GMT - Asia Session
Published On Wed, Jan 7 2009, 06:14 GMT
Forex.com
| 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.Related reports
Daily Market Outlook by AceTrader
Fri, Jan 9 2009, 00:20 GMT
European and US summary - USD Slumps Ahead of Payrolls by Forexnews.com
Thu, Jan 8 2009, 22:49 GMT
U.S. Forex Market Commentary by GCI
Thu, Jan 8 2009, 22:42 GMT
One year Outlook for JPY - Dollar/Yen moves in the second half of last year were a bit bigger than we had expected by Mizuho Corporate Bank
Thu, Jan 8 2009, 16:14 GMT
Daily Market Report - The Bank of England cut rates today by 50 basis points, to 1.50% by Wachovia
Thu, Jan 8 2009, 13:10 GMT
Related content
Britain could print more money to ease crisis-report
Thomson Financial News | Thu, Jan 8 2009, 23:55 GMT
UPDATE 3-Bank of England cuts interest rates to record low
Thomson Financial News | Thu, Jan 8 2009, 15:24 GMT
MONEY MARKETS-Interbank rates ease as BoE cuts rates
Thomson Financial News | Thu, Jan 8 2009, 14:41 GMT
Dollar Weaker In Response To Mounting Economic Gloom
Dow Jones | Thu, Jan 8 2009, 14:02 GMT
UPDATE 2-Bank of England cuts interest rates to record low
Thomson Financial News | Thu, Jan 8 2009, 13:49 GMT
Interested in forex trading? forex brokerage firms!
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.