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Daily Report: Sterling Lower ahead of BoE Minutes, Yen Steady

admin — Wed, 18 Aug 2010 10:34:01 +0000

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 (All Reports)

Daily Report: Dollar in Range ahead of Non-Farm Payroll

admin — Fri, 06 Aug 2010 09:45:56 +0000

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 (All Reports)

Daily Report: Dollar Building Strength to Extend Rebound

admin — Tue, 13 Jul 2010 09:29:12 +0000

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 (All Reports)

Mid-Day Report: Dollar Extends Recovery While Yen Rebounds

admin — Tue, 13 Jul 2010 05:51:27 +0000

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 (All Reports)

Mid-Day Report: Canadian Dollar Soars on Stellar Job Report

admin — Fri, 09 Jul 2010 23:25:43 +0000

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 (All Reports)

Daily Report: Dollar Pressing Trend Line Support, Reversal or Penetration?

admin — Fri, 09 Jul 2010 11:24:37 +0000

Risk rally is still the major driving force in the forex markets with dollar and yen generally under pressure. European stocks open mildly higher following broad based rally in Asian equities while crude oil is also firm above 75 level. On the other hand, dollar index is soft below 84 View full post on Action Insight (All Reports)

Daily Report: IMF Raised Global Forecast, ECB and BoE in Focus

admin — Thu, 08 Jul 2010 11:52:57 +0000

Japanese yen is sharply lower today as Asian equities soar following 2.82% rally in DOW overnight. IMF raised forecast of global growth from April’s projection of 4.2% to 4.6%. Though, growth for 2011 was unchanged at 4.3%. The IMF report stated that "The new forecasts hinge on implementation of policies View full post on Action Insight (All Reports)

Daily Report: Dollar and Yen Mildly Higher as Asian Stocks Retreat

admin — Wed, 07 Jul 2010 12:22:00 +0000

Dollar and yen are mildly higher as Asian equities pare this week’s gain. Nikkei’s recovery lost momentum, following late selling in US stocks and drops slightly by -0.63% today. Crude oil failed to take out 74 level overnight and is hovering around 72 level now. Dollar index also manages to View full post on Action Insight (All Reports)

Mid-Day Report: Swiss Franc Lower on Weak CPI, Dollar Soft on Risk Appetite

admin — Wed, 07 Jul 2010 00:39:21 +0000

Swiss Franc is mildly lower today after consumer inflation report. CPI in June dropped -0.4% mom, rose 0.5% yoy versus consensus of -0.1% mom, 1.0% yoy. Recent strength in Swiss Franc was driven by SNB’s message of disappearing deflation risk, which led to exit of intervention. However, SNB has also View full post on Action Insight (All Reports)

Daily Report: Markets in Tight Range with US on Holiday

admin — Tue, 06 Jul 2010 01:03:12 +0000

Markets are quietly staying in tight range today. Asian stocks were mixed with little reaction to Friday’s job data from US. Crude oil is staying in tight range above 72 level which gold is hovering around 1210. Dollar index also consolidates between 84 and 85. SNB President Hildebrand said that View full post on Action Insight (All Reports)