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Market Session Recaps
5
0
Asia Session
Fri, Dec 5 2008, 12:03 GMT
by Forex.com Research Desk
After a big data week in the Forex markets, the Asia session ended rather quietly as most traders were awaiting the US November non-farm payroll data tomorrow in New York. The US Dollar was mixed as the markets prepared for the possibility of anywhere from 325K to 500k job being lost as the US tries to fight off recession. EUR/USD opened near highs at 1.2795 and zigzagged its way to a low of 1.2731 and a close of near 70 in very subdued trading. The ECB's 75 basis point cut was pretty much expected, but was nonetheless seen as a step in the right direction. As well, the BoE's 100 basis point cut was pretty well received but since the 1.4813 NY high it's been all downhill, as the Pound hit bottom at 1.4632 in Asia. 1.4690 was the level as of this writing.
USD/JPY was initially higher hitting 92.57 early, but the Yen strengthened on the usual risk aversion ahead of tomorrows US data, and the pair was trading near 92.30 as London awoke to trade. EUR/JPY traded in a range of 118.21 to 117.49, in what was essentially the culmination of a relatively quite week in Asia. Enjoy the weekend....
Upcoming Economic Data Releases (London Session):
| 12/05 | 11:00 | GE | Factory Orders MoM (sa) | OCT | -8.00% | -0.50% |
| 12/05 | 11:00 | GE | Factory Orders YoY (nsa) | OCT | -2.70% | -0.50% |
Published on Fri, Dec 5 2008, 13:00 GMT
Archive
- London Session
Published On Fri, Nov 6 2009, 11:03 GMT - Asia Session
Published On Fri, Nov 6 2009, 06:52 GMT - New York Session
Published On Fri, Nov 6 2009, 00:00 GMT - London Session
Published On Thu, Nov 5 2009, 11:08 GMT - Asia Session
Published On Thu, Nov 5 2009, 07:03 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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