Archive for April, 2008
Asia Session Recap
Tonight is pretty much the setting of the stage for the drove of data releases in the US this morning. Not only do we have the FOMC rate decision, but first quarter GDP, April ADP employment, and the Chicago MAPM. Obviously the FOMC will be on the big stage, and…
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FX Overnight Briefing
Japan’s industrial production fell far more than expected in March, pushing up Japanese bond prices and stoking worries that U.S. economic woes are hitting Japanese companies. Household spending and forward-looking jobs data were also weak, setting a bleak environment for the central bank as it reviews rates today and issues…
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Asian Market Update
Japan’s industrial output data shows biggest monthly fall for at least five years: (JP MARCH PRELIMINARY INDUSTRIAL PRODUCTION MOM: -3.1% V -0.8% expected, +1.6% prior; YOY: -0.4% V 2.0% expected, 5.1% prior) ‘Auto shipments were weak in the month as U.S.-bound exports of passenger cars declined,’ ministry official Michiko Kikuchi…
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Forex Market Summary
U.S. Dollar Trading (USD) strengthened last night more on sentiment rather than data results. Investors have priced in the more than likely 25bps rate cut expected to be announced late on Wednesday. However, it is the accompanying statement which will give an indication as to whether we see an end…
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How Will The Fed Rate Decision Impact EUR/USD, Treasuries, And The DJIA?
The ongoing housing recession has led many to believe that the US economy is in the midst of a real economic recession, and the upcoming GDP report will go a long way to dispel or confirm such pessimistic sentiment. The median consensus forecast call for the slowest quarterly GDP gain…
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Forex Exchange Morning Report
The New Zealand dollar continues to slide, reaching a three-month low of 0.7730 overnight. The move began with yesterday’s surprise $50m trade deficit, which dragged the currency from 0.7860 to 0.7820 over the day. The selling continued overnight, with signs that ?macro’ traders are looking to establish medium-term short positions,…
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Perception Shifts Begin To Appear
Overall the Dollar made marginal gains once again against mainland Europe while the Pound helped the process with its own weakness. However, Dollar gains weren’t uniform as it lost more strongly against the Yen.
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Sphere: Related Content
USD Strengthens, Awaiting Fed Rate Decision
The dollar rose against most major currencies in NY trading Tuesday on speculation the Federal Reserve will signal a pause in lowering interest rates at tomorrow’s FOMC rate decision meeting, and on increased concerns the US economic slowdown is spreading to other countries. The euro fell to a 3-week low…
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US Dollar Gains Ahead of Heavy Event Risk
The US dollar gained against most of the major currencies ahead of the market moving data scheduled for tomorrow, and pushed investors to lower their risk appetite as they raised bets of a 25bp rate cut. As a result, the greenback advanced against most of the commodity currencies expect for…
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New York Session Recap
The US dollar managed to maintain most of its overnight gains in NY trading today, but it wasn?t easy as US data continued to point to further potential slowing ahead. The S&P/CaseShiller index of home prices posted another decline in February, with home prices dropping -12.7% versus year ago levels,…
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