Archive For The “Forex Daily Outlook” Category
At Thursday’s ECB, president Trichet is expected to leave the main-refinancing rate unchanged at 1% and reiterate the view that current interest rates are ‘appropriate’ while ‘the risks to the economic outlook are broadly balanced in an environment of uncertainty’. Market’s focus will be on the press conference where Trichet will announce the [...]
Sterling was the only major currency that failed to participate in this week’s risk rally so far. And indeed, the pound has weakened quite noticeably against dollar, euro and swissy. Euro’s rebound on bond auctions was one of the major factors. But sterling’s weakness could also be attributed to the View full post on Action Insight [...]
Dollar is staying in tight range as traders await July’s Non-Farm Payroll report today. The headline number is expected to show -75k contraction in the job market while private jobs are expected to grow by 80k. Nevertheless, the range of expectation is wide from 20k to 150k and the main View full post on Action Insight [...]
Stress Test Result Appeared to be Stronger than Expected. Stringency in Question
By admin | July 25, 2010
The CEBS’s stress test result was out yesterday. 7 out of 91 European banks failed the test failed to exceed the 6% Tier 1 capital ratio under the most severe scenario. These banks are Diada (Spain), Espiga (Spain), Unnim (Spain), Banca Civica (Spain), Cajasur (Spain), ATEBank (Greece) and Hypo View full post on Action Insight (All [...]
Dollar is gathering some strength in early European session and is set to extend this week’s recovery against major currencies. Yen is also following after China stocks slumped -1.5% on comments from China Banking Regulatory Commission that banks should "strictly implement" curbs on loans to multi-home buyers to prevent speculative View full post on Action Insight [...]
Dollar’s recovery extends further in early US session trading above 84 level. As we’ve pointed before, the greenback has just got some support from an important medium term trend line. Current development indicates that dollar is gathering some momentum for a sizeable rebound at least and we would see the View full post on Action Insight [...]
According to IMF’s COFER data, total foreign exchange holdings increased $129.5B to $829.5B in 1Q10. The increase was significantly lower than an average of $333.9B over the past 3 quarters, suggesting slowdown in accumulation in FX reserves, especially in emerging and developing economies. View full post on Action Insight (All Reports)
Weekly Review and Outlook: Defining Week for Dollar ahead, Would Trend Line Support Hold?
By admin | July 10, 2010
Dollar and yen were broadly lower last week as stocks rebounded strongly on hope for solid earning reports. S&P 500 posted the biggest weekly gain in a year and rose 5.4% over the week. DOW also jumped 5.2% to close above 10,000 again at 10198. Dollar index dropped to as View full post on Action Insight [...]
Canadian dollar soars in early US session after release of much stronger than expected employment data. The job market in Canada added 93.2k jobs in June, more than four times expectation of 20k. Unemployment rate dropped from 8.1% to 7.9%, lowest level since January 2009. Also, note that the Canadian View full post on Action Insight [...]