日本語
Español
中文
Русский 
- New York 02:08
- London 07:08
- Barcelona 08:08
- Tokyo 16:08
- Sydney 18:08
Market Session Recaps
2
0
New York Session
Fri, Nov 6 2009, 00:00 GMT
by Forex.com Research Desk
Upbeat economic data helped stocks extend gains but the US dollar remained relatively flat on the day. Initial jobless claims in the US fell to 512K from 532K and the market rejoiced. Nobody bothered to report that the true continuing claims number (state and federal programs), however, remains near a whopping 9 million and has shown no improvement in recent weeks. This suggests it is still very difficult for folks who lost a job to find a new one. Equities closed up 2% on the day nonetheless and the robust correlation between strong equity markets and New York Yankees championships remains intact.
The Bank of England created a stir by raising its asset purchase program by a smaller than anticipated 25B to 200B. Consensus was for an increase of 50B. The notion that this means less money printing helped GBP extend gains ahead of the NY open. However, Cable pared gains from the 1.6630/35 highs towards 1.6580 at the close.
ECB President Trichet offered no earth-shattering developments but was a touch more optimistic about the economic outlook in the Eurozone. This and the comment that liquidity will likely not be extended further (no more money printing) helped EUR/USD squeeze up from 1.4865 towards the highs above 1.4900. The pair eventually gave up the ECB gains and settled right where it went into the event.
The focus now turns to tomorrow's NFP report. We look for October headline nonfarm payrolls to decline by a steeper than expected -190K and the unemployment rate to jump to 10.0% from 9.8% currently. Per the price action of the last six NFP releases, we think a similarly negative reaction in risky assets - and positive reaction in USD - will follow any downside surprise to NFP. See the full report and trading strategy: http://www.forex.com/09-11-05-nfp.html
Published on Fri, Nov 6 2009, 00:08 GMT
Archive
- London Session
Published On Fri, Nov 20 2009, 11:37 GMT - Asia Session
Published On Fri, Nov 20 2009, 06:53 GMT - New York Session
Published On Thu, Nov 19 2009, 22:07 GMT - London Session
Published On Thu, Nov 19 2009, 11:22 GMT - Asia Session
Published On Thu, Nov 19 2009, 06:49 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
Intraday Forex Technical Report - U.S. Update: More dollar corrections by FXstreet.com Independent Analyst Team
Fri, Nov 20 2009, 16:15 GMT
Weekly Market Commentary - The trend to lower interest rates continues by Mizuho Corporate Bank
Fri, Nov 20 2009, 15:48 GMT
Daily Market Report - There are indications that the market is reducing its exposure to risk by Wells Fargo Investments, LLC
Fri, Nov 20 2009, 15:19 GMT
Fundamental Currencies Comments - Dollar climbs vs. majors by ecPulse.com
Fri, Nov 20 2009, 15:15 GMT
Interest Rate Monitor - Trichet tempers European rate rally by Interactive Brokers LLC
Fri, Nov 20 2009, 15:10 GMT
eurusd, boe, trichet, ecb, centralbanks, interestrate, eurozone, uk
View AllRelated content
Forex: EUR/USD ends week with moderate losses
FXstreet.com | Fri, Nov 20 2009, 21:27 GMT
ForexLive New York wrap-up: EUR/USD bounces after 1.4800 attack
Forex Live | Fri, Nov 20 2009, 20:58 GMT
Forex: EUR/USD rebounds at 1.4875 and falls to 1.4835
FXstreet.com | Fri, Nov 20 2009, 18:33 GMT
Forex: EUR/USD finds resistance at 1.4860, back to 1.4820
FXstreet.com | Fri, Nov 20 2009, 15:47 GMT
US Regional and State Unemployment Rates for Oct-STATS
Dow Jones | Fri, Nov 20 2009, 15:29 GMT
eurusd, boe, trichet, ecb, centralbanks, interestrate, eurozone, uk
View All
Interested in forex trading? forex brokerage firms!
GET CASH BACK FOR YOUR TRADES! Learn more about the Pip Rebate Program
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.
©2009 "FXstreet.com. The Forex Market" All Rights Reserved.