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Market Session Recaps
Asia Session
Fri, Apr 10 2009, 06:37 GMT
by Forex.com Research Desk
FOREX.com | View company's profile
With a good part of Asia on holiday as well as all of Europe and the US out later today, the Euro dropped versus both the US Dollar and the Yen as traders continued to dump Euros on the statements of the ECB that it may use ''unconventional'' measures at its upcoming meeting in May. The ECB remains behind the global curve of rate cuts and is under pressure to mirror moves by the US Fed or RBA to help pump life in the credit markets. With exaggerated moves in thinned markets, the EUR/USD set off stops to the downside, leaving early 1.3169 highs in the dust, the pair hit bottom at 1.3089, a low not seen in almost a month as traders bailed out of their positions prior to the four day holiday weekend in Europe. EUR/JPY saw similar action today, starting the session near highs of 132.50 and subsequently dropping almost a full handle to 131.52. EUR/JPY started the week on Monday at 137.42 highs, and melted 6 big figures through the week to its current levels, bucking the trend as global equities had a winning week. USD/JPY drove to early highs above 100.70, but the gains were short lived and soon the pair collapsed to the humbler grounds near 100.20 as profit takers swooped in to reap their rewards. Most other pairs were relatively quiet for the session. Despite the holiday, France has CPI and Industrial Production out later in the day. Keep in mind that Europe is out for a four day weekend and next week should be interesting with the US financials releasing earnings....Besides that, enjoy the holiday weekend.
Upcoming Economic Data Releases (London Session):
| 4/10/2009 | 6:45 | FR | Consumer Price Index (MoM) | MAR | 0.40% | - - |
| 4/10/2009 | 6:45 | FR | Consumer Price Index (YoY) | MAR | 0.90% | 0.40% |
| 4/10/2009 | 6:45 | FR | CPI - EU Harmonised (MoM) | MAR | 0.40% | 0.30% |
| 4/10/2009 | 6:45 | FR | CPI - EU Harmonised (YoY) | MAR | 1.00% | 0.50% |
| 4/10/2009 | 6:45 | FR | CPI Ex Tobacco Index | MAR | 117.59 | 117.94 |
| 4/10/2009 | 6:45 | FR | Central Govt. Balance (Euros) | FEB | -8.1B | - - |
| 4/10/2009 | 6:50 | FR | Industrial Production (MoM) | FEB | -3.10% | -1.10% |
| 4/10/2009 | 6:50 | FR | Industrial Production (YoY) | FEB | -13.80% | -14.70% |
| 4/10/2009 | 6:50 | FR | Manufacturing Production (MoM) | FEB | -4.10% | -1.00% |
| 4/10/2009 | 6:50 | FR | Manufacturing Production (YoY) | FEB | -16.50% | -17.40% |
Published on Fri, Apr 10 2009, 06:39 GMT
Forex.com
http://www.forex.com/ | info@forex.com
Archive
- Asia Session
Published On Fri, Mar 19 2010, 06:42 GMT - New York Session
Published On Thu, Mar 18 2010, 22:32 GMT - Asia Session
Published On Thu, Mar 18 2010, 05:58 GMT - New York Session
Published On Wed, Mar 17 2010, 22:44 GMT - Asia Session
Published On Wed, Mar 17 2010, 06:08 GMT
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
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