•  
  • New York 01:33
  • London 05:33
  • Barcelona 06:33
  • Tokyo 14:33
  • Sydney 16:33
  • SignUp | Login

Market Thoughts

2/10/2008 − the current market sentiment

Thu, Oct 2 2008, 14:56 GMT
by Walid Salah El Din

FX Recommends  |  View company's profile


Vote:

0

0

The ECB has disscussed cutting rate this time as expected pushing the single currency lower across the broad. The ECB has started to pave the market for an easing action in the face of the current financial market turmoil after the drop of the oil and commodities prices across the broad on the growth worries and the negative impact of the current credit crises on the growth in EU too. Technically breaking lower than the pair recent low at 1.399 is a very bearish sign. The next major support is at 1.336.

 

The Greenback which is getting support currently from the lack of liquidity and the risk aversion as the buying back currency of the global investing risks has found some optimisim from yesterday senate approving of changes of the rescue plan which can some tax cuts to the market from another side to be pass in the next congress meeting by the end of the week as the US rescue package is still containing the market sentiment and a new rejection of it can cause a serious damage to the equity market and the US dollar versus the Japanese yen but it can add more owes to the single currency versus them as the current squaring and risk aversion can persist on the increased mistrust.

 

Best wishes

 

FX Consultant

Walid Salah El Din

E-Mail: mail@fx-recommends.com

http://www.fx-recommends.com


Archive


Vote:

0

0

Related reports

TraderPlanet Daily Currency Analysis by TraderPlanet.com, LLC
Thu, Mar 18 2010, 12:57 GMT

Global Markets Rally on Improved Economic Data, US Dollar Weakens by Alpari (US), LLC
Tue, Mar 16 2010, 14:55 GMT

Preview: FOMC likely to keep Fed funds rate in a range of 0-0.25% by RANsquawk
Tue, Mar 16 2010, 13:27 GMT

US dollar crosses by CMS Forex
Mon, Mar 15 2010, 23:52 GMT

ECB's soft tone postpones expected tightening to 2011 by Danske Bank A/S
Mon, Mar 15 2010, 11:17 GMT

usd, ecb

[ View All ]

Related content

USD/JPY still in range
FXstreet.com | Thu, Mar 18 2010, 23:24 GMT

GBP/USD above 1.5230 support
FXstreet.com | Thu, Mar 18 2010, 23:23 GMT

EUR/USD hovering around 1.3600
FXstreet.com | Thu, Mar 18 2010, 23:22 GMT

Forex: CAD downswing, Dollar strength
FXstreet.com | Thu, Mar 18 2010, 16:28 GMT

Forex: AUD drifts on risk sentiment
FXstreet.com | Thu, Mar 18 2010, 15:59 GMT

usd, ecb

[ View All ]

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.