1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

10/12/2008 - The current Market Sentiment

Discussion in 'Current Market Sentiments' started by fx-recommends, Dec 10, 2008.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
    Likes Received:
    The pressure on the single currency and the British pound has become lighter after the recent MPC cut by 1% and the ECB cut by .75% on an increased speculation that these banks can wait to see the impact of their recent massive cuts and if there are further close cut it can not be by this same pace and the turn now is to the Fed. The British pound is still finding difficulty in standing above 1.5 versus the greenback and the single currency is fighting to get above 1.30 but it looks a matter of time before they can. The greenback was under pressure recently after this week risk appetite rising of the equity market on the market optimism of Obama's stimulus plans.

    We wait later this week for the release of US October International Trade Balance of October which is expected to be 53.5 Bln$ and the US retail sales of November which is expected to come down again by 1.9%. The market eyes are on the figure including the auto sales this time as the current interest in the auto industries needs of bailing out plans and weak auto sales figures can put pressure on the equity market supporting the greenback as a safe haven again.

    Best wishes

    FX Consultant

    Walid Salah El Din

    E-Mail: mail@fx-recommends.com


Share This Page