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Forex Report

Discussion in 'Forex Daily News & Outlook' started by honeyks, Aug 10, 2010.

  1. honeyks

    honeyks New Member

    Feb 26, 2010
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    by http://is.gd/e3ve5
    In the absence of any material market news, US equities looked ahead to tomorrow's US central bank meeting where there is some speculation the Fed may announce some form additional monetary easing. The S&P500 is currently up 0.5%, grinding steadily higher after the open. Commodities were unchanged overall, the slip in foods balanced by gains in oil (+0.9%) and copper (+0.6%). Shipping costs posted further gains, large ships (Baltic Capesize) gaining 8.1%. US 3mth Libor shed another 0.7bp to 0.404%. US 2yr treasury yields rose 3bp, the 10yr unchanged.

    The US dollar bounced off its four-month low of 80.09 to 80.74 (index terms), attempting to alleviate an oversold condition. A strong EZ investor confi dence reading couldn't help the EUR which fell from 1.3308 to 1.3217. The day's underperformer was the CHF which weakened by 1.2% to 1.05. USD/JPY rose from 85.55 to 85.91.

    AUD made an intraday peak at 0.9206 just after Sydney closed, slipping to 0.9154 during the European session and remaining thereabouts.

    NZD peaked an hour earlier than the AUD at 0.7330 and slipped as far as 0.7667 before settling around 0.7290. AUD/NZD fi rmed to 1.2607 before settling 40 pips lower.

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