Market Session Recaps
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New York Session
Tue, Dec 2 2008, 22:13 GMT
by Forex.com Research Desk
The NY session saw the price action in FX whip around but would ultimately see most of the majors close near the open. Equities in NY jumped 4% as the restructuring in the US auto manufacturing space looks to be underway and Congress seems set on delivering some sort of rescue package to the Big Three. This ''good'' news outweighed the fact that US domestic auto sales plunged to an annual run-rate of 7.6 million in November and well below consensus expectations for the month. This points to a horrid total run-rate (including foreign-built nameplates) of around 10.3 million units.
Risk trades in FX failed to push markedly higher despite the strong performance in stocks. EUR/USD rose an unremarkable 15 points in the session and was sitting near 1.2700/10 at the close. The 1.2680/70 looks like good near-term support while a break above 1.2760/70 should usher in decent strength here. JPY crosses saw modest moves as well. USD/JPY was unchanged and near 93.20/30 while EUR/JPY rose a modest 10 pips into the 118.50/60 area. USD/CAD did move markedly higher and was up about 90 pips into 1.2520/30 in NY trading as oil prices collapsed another $1.50 into a close just above the $47/bbl mark.
Upcoming Economic Data Releases (Asia Session) Prior Estimate
- 12/02 22:30 GMT AU AiG Performance of Service Index NOV 42.1 - -
- 12/03 00:01 GMT UK Nationwide Consumer Confidence NOV 55 54
- 12/03 00:30 GMT AU Gross Domestic Product (QoQ) 3Q 0.30% 0.20%
- 12/03 00:30 GMT AU Gross Domestic Product (YoY) 3Q - - 1.90%
- 12/03 02:00 GMT NZ ANZ Commodity Price NOV -7.40% - -
Published on Tue, Dec 2 2008, 22:14 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
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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
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