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Thread: Daily market update

  1. #51

    Default 24.09.10

    There were not official Japanese government actions but nevertheless the USD increased against the YEN based on the market rumors about the next intervention.

    The Gold is following its uptrend and reaches a new high record. The unclear US economic recovery supports the rise of the gold prices.

    The CEPR (Centre of Economic Policy Research) announces that the European economy loses its growth in September and EuroCoin indicator confirms this fact. The indicator fell from 0, 37% in August to 0,34% in September.

    The Euro recovers its positions of yesterday but the fear of the weak euro zone economy still remains on market.

  2. #52



    The USD increased against the YEN on rumours and fear about a new government intervention.

    During the Asian session today the EURO decreased against the USD and YEN after profit fixing on the EURO growth at the end of last week.

    The Bank of Japan announced that the Central Bank is ready to take further measures for the Japanese economic recovery.

    The GBP/USD hits a new high and confirms its uptrend.

    The oil starts a new week by strengthening during the Asian and European sessions.

  3. #53



    The Euro is under pressure because new fear on the European economy situation appeared on the markets. Therefore in the morning the EUR/USD pair dropped but then during the day went up to test a new resistance area. And if the EUR/USD can pass this resistance the next mark for the pair will be 1.3600.

    The gold prices are decreasing slowly as a result of the Euro weakening.

    The oil contracts today were traded at lower level above $76 per barrel.

    The GBP/USD in a short space of time dropped from $1.5850 to the fresh low near the area of 1.5774 due to the weak statistic data from the Bank of England.

  4. #54



    In the morning the US stocks were lower than on Tuesday and markets are waiting for new comments from FED. The USD is under pressure based on concerns that Federal Reserve will ease the US monetary policy.

    The USD dropped against its principal competitors as a result of waiting for new weak statistic figures from the Federal Reserve. Also the dollar reaches a new low level against the YEN.

    The gold traded lower today and it had an influence on the Euro rate.

    The central banks of other countries such as Thailand and Singapore are willing to step in markets as it has been already done by Japanese authorities.

    During the Asian session today the crude oil contracts were a little higher and supported by strong economic indicators of Asian countries.

  5. #55



    The USD continues to become weak day by day because of market expectations of the US monetary easing. This measure can put the US interest rates at the low level which is unattractive for investors.
    The USD dropped against the Yen and lost all gains of the Japanese government intervention.

    During the Asian session the EURO/YEN reached the session lows at 113.65. The Yen has been supported by exporters. And the market analysts expect that the pair downside can remain during the day.

    The oil prices went up to the new high based on the negative government report regarding the US oil and fuel inventories.

    Gold and silver continue to hit new high records and the prices move higher.

  6. #56



    EURO demonstrates
    continued strength

    USD weakens towards
    most currencies

    Gold and silver
    reach new record highs

  7. #57



    Because of the weak data on Irelandís budget, the Euro dropped against the USD.

    The Purchasing Managersí Index value is a little better than it was in previous month. This event has a positive influence on Eurozone situation.

    The GBP is under a negative influence of the EUR/USD falling and the GBP/USD was a little down also but in general the pair is still keeping its uptrend.

    After the first Japanese government intervention in September, the market is waiting for new actions.

    After the Bank of Japan decision on reducing its interest rate, the EUR/JPY has moved to the high level of 115.00.

  8. #58



    Yesterday the dollar dropped against its competitors and the dollar remains under pressure of fear regarding the next FED measures.

    Gold, silver and oil are reaching the new highs during the day after the yesterdayís action from the Japanese authorities who cut interest rates and brought cash in economy. All it has been affected the USD deeply.

    In Asia all traders are waiting for a new government market intervention, today the USD/JPY approached the area of 82.87 which was the same level of the pair before the first Japanese intervention has been realized. Today itís a new low of the USD against the YEN.

  9. #59


    The Euro touched an eight month high versus the Dollar on speculation that the Federal Reserve will join the Bank of Japan in increasing purchases of government debt to sustain an economic recovery. Also, the ADP data from the US, which came out negative, supported a stronger euro. The momentum of the EUR/USD is still strongly bullish for the euro, and as long as itís above 1.3600 levels, a long position is preferred. The next resistance line on the daily chart is 1.4000 and the RSI and the 10 moving average indicators support an uptrend as well. Overall, EUR/USD traded with a low of 1.3798 and with a high of 1.3948. Today, the interest rate decision is expecting to remain at 1.00%, German Industrial Production is expected to rise from 0.1% to 0.4%, and there is an ECB Press Conference.

  10. #60



    The USD fells after the weak US employment data have been released. The dollar reached its new 15-year low level against the YEN and this event make all traders worried about next market intervention of Japanese authorities.

    Today The Yuan moved to a fresh high against the USD and itís a very strong level of Chinese yuan against the dollar

    The Usd/Euro is following an uncertain trend today: first the pair went up after the US nonfarm payrolls report has been published but then the pair dropped back more than 100 pips.

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