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Ikon forex "EUR,AUD mildly reversed the gains in the previous night"

Discussion in 'Forex Discussions' started by ikonforex, Jan 24, 2011.

  1. ikonforex

    ikonforex New Member

    Dec 22, 2010
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    In the Asia Pacific forex market on Tuesday (January 25), the USD index continued the mild rebound trend of the previous trading session, the forex price of EUR/USD and other non-USD currencies fell from the high point in the previous night.

    The highest point EUR/USD had reached in the previous night was at 1.3685 and this refreshed the highest point for over two month in the forex market. The purchasing managers index in Euro Zone which was released on Monday (January 24) was better than the previous expectation, and this help restore up the confidence of EUR in the forex market.

    The data indicated that the primary value of PMI in January in Euro Zone was at 55.2, and the previous expectation was at 54.3; that of last December was at 54.2. What is more, the month rate of factory orders of November in Euro Zone was increased by 2.1 percent, and the previous expectation was to increase by 2.0 percent; the annual rate rose by 19.9 percent and the previous expectation was to increase by 17.1 percent.

    Affected by the support of the economic data, the stock price all surged up in the previous night, and Dow Jones Industrial Average was closed high, and rose up by over 100 points and made a new highest record since June 2008.
    The surging up of the stock market also supported the forex price of AUD/USD to get a strong rebound at around 0.9830 and the forex price even reached a high point of 1.0021. So far this forex price fell back to the level of 0.9970 and was getting an adjustment there.

    The forex price of EUR/USD was at 1.3637/40, and AUD/USD was at 0.9972/76 at 08:21 Beijing time.

    Edited by Laura in Ikon Group.

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