•  
  • New York 05:22
  • London 09:22
  • Barcelona 10:22
  • Tokyo 18:22
  • Sydney 20:22

  • SignUp | Login

Market Session Recaps

Asia Session

Thu, Oct 1 2009, 05:58 GMT
by Forex.com Research Desk

FOREX.com  |  View company's profile


Vote:

6

0

While market ranges looked eerily familiar to yesterdays, the end results differed in that after an early decline, the US Dollar came clawing back to respectable levels. Risk was back on the table after the Japanese Tankan survey came in better for a second straight quarter, helping to accentuate the fact that the economy is on firmer footing. Adding to the positive data today was Chinese PMI which rose slightly to 54.3 stronger than the expected 54.0, and a making that four positive months in a row, showing again that the economy is steadily improving.

Early Dollar weakness was noted as EUR/USD broke above 1.4665 early in the session, but slid downhill from there, touching 1.4615 on the lows. GBP/USD touched 1.6010, but quickly saw gains evaporate to 1.5925 on the south side. The AUD/USD, which has benefitted greatly from higher commodities and a growing Chinese economy hit a fresh 14 month high near 0.8858.

The elation was short lived for risk appetite as a combination of lower equities, profit taking and the realization that the Tankan survey was taken when USD/JPY was about 5% higher at 94.50, helped give the Dollar the quick shot in the arm it needed. USD/JPY cruised higher to 90.05 after treading earlier near 89.70, which constituted the biggest yen move in Asia as most yen crosses were looking to end the session flat on the day. After SNB intervention earlier in NY sent the USD/CHF two handles higher, today's gains were modest to say the least, yet meaningful for what is usually a quiet pair in Asia. USD/CHF erased 1.0335 lows to rise above the 1.0380 level as it drifted into the London session.

Tomorrow's session in the US brings a healthy chance of big Dollar moves with Unemployment claims, ISM Manufacturing, Pending Home Sales, and last but certainly not least, FOMC Chairman Bernanke testifying in front of the House Financial Committee.

Upcoming Economic Data Releases (London Session) prior expected

10/1/2009600GE Retail Sales (MoM) AUG 0.70%0.20%
10/1/2009600GE Retail Sales (YoY) AUG -1.00%-0.80%
10/1/2009730SZ SVME-Purchasing Managers Index SEP50.251
10/1/2009730EC Europe Finance Chiefs, Central Bankers Meet: Informal EcoFin 1-Oct
10/1/2009750FR PMI Manufacturing SEP F 52.552.5
10/1/2009755GE PMI Manufacturing SEP F 49.649.6
10/1/2009800EC PMI Manufacturing SEP F 4949
10/1/2009830UK PMI Manufacturing SEP 49.750.2
10/1/2009830UK Bank of England Releases Quarterly Credit Conditions Survey 1-Oct
10/1/2009900EC Euro-Zone Unemployment Rate AUG 9.50%9.60%

Published on  Thu, Oct 1 2009, 06:05 GMT


Forex.com http://www.forex.com/ | info@forex.com

Archive


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.
Vote:

6

0

Related reports

Higher Still..... by SwingTradeOnline.com
Fri, Mar 19 2010, 08:19 GMT

Euro to fight an uphill battle as poltical bickering on Greece rescue plan continues by KBC Bank
Fri, Mar 19 2010, 08:17 GMT

Today's Trading Signals by Financial Trend Analysis
Fri, Mar 19 2010, 08:07 GMT

On Thursday, global bonds followed a slightly different path by KBC Bank
Fri, Mar 19 2010, 07:59 GMT

GBPUSD 4X EagleEye Daily Outlook by 4XTechnicales.com
Fri, Mar 19 2010, 07:57 GMT

audusd, eurusd, gbpusd, usdchf, usdjpy

[ View All ]

Related content


Interested in forex trading? forex brokerage firms!


FX Solutions LLC
Contact the broker/FDM
Open a demo account
FOREX.com
Contact the broker/FDM
Open a demo account
FXDD
Contact the broker/FDM
Open a demo account		Deutsche Bank
Contact the broker/FDM
Open a demo account		Capital Market Services UK Ltd
Contact the broker/FDM
Open a demo account

GET CASH BACK FOR YOUR TRADES!   Learn more about the Pip Rebate Program

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

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.

©2010 "FXstreet.com. The Forex Market" All Rights Reserved.