Archive for the ‘Market Forex’ Category
Mid-Day Report: Euro Retreats on Risk Aversions and Weakness in Global Stock Markets
Despite initial brief rise in euro in reaction to downgrade of U.S. AAA rating by Standard & Poor's over the weekend, the single currency then retreated sharply in Asian and European sessions on massive risk aversions due to further weakness in global stock markets. Major Asian indices (including Nikkei and
Daily Report: Greenback Slips Versus Other Major Currencies after S&P Downgraded its …
The greenback fell across the board and hit fresh record low against the Swiss franc after Standard & Poor's downgraded U.S. top credit rating from AAA to AA+, the decision raised concerns over the fiscal issue of the world's biggest economy. Although the Federal Reserve Open Market Committee are going
Weekly Review and Outlook: Swiss Franc to Remain Strong in Rough Markets
Risk assets tumbled sharply in panic selling last week. The three major US stocks indices, DOW, S&P 500 and NASDAQ had the worst week since the 2008 financial crisis. DOW lost -5.75% during the week, erasing all gains made since the beginning of 2011. The S&P 500 Index plummeted -7.19%
Mid-Day Report: Euro Rebounds after Better-than-Expected U.S. NFP
Although the single currency dropped to a 2-week low of 1.4055 against the greenback earlier today, euro continued to edge higher throughout the day on short-covering as European Central Bank started buying Portugal and Irish government bonds which eased pressure on Italian and Spanish peripheral debt. Rebound in Dow futures
Daily Report: Euro Weak on Dovish Trichet Whilst USD/JPY Despite Rumors of Another Intervention
After staging a strong rise yesterday against the Japanese yen on intervention Bank of Japan on behalf of the Ministry of Finance, the greenback turned south since overnight U.S. session as the currency pair ran into heavy offers from Japanese exporters and funds above 80.00 level. Although the pair jumped
Dollar Jumped as Markets Avoided Swiss Franc and Yen on Massive Risk Selloff, NFP Next
Risk aversion dominated the markets today on worries that US would re-enter into recession while fear of contagion in European debt crisis persisted. DOW plummeted -512 pts, or -4.31%, the largest decline since the 2008 financial crisis. S&P 500 dropped -4.78% while Nasdaq was down -5.07%. All these three major
Mid-Day Report: Euro Slips on Dovish Comments from ECB Trichet
The greenback extended intra-day BOJ inspired rally and rose against the Japanese yen for almost 4 percent to as high as 80.25 as MOF continued intervening the currency market to sell Japanese yen (believed to be 3 times so far), traders noted constant yen selling by Japanese authorities in London
Daily Report: The Greenback Finally Rallies against the Japanese Yen on Aggressive …
Finally, as suggested in our previous updates that the Bank of Japan did ease policy by increasing the amount of its Asset Purchase Program and the MOF also took this chance as indicated in our updates to intervene the forex market to curb recent yen's strength. The Bank of Japan
Mid-Day Report: USD/CHF Rebounds on Surprised Rate Cut by Swiss National Bank
The greenback finally rebounded today from record low of 0.7610 on broad-based retreat in Swiss franc after Swiss National Bank (SNB) unexpectedly cut interest rates, the SNB narrowed down its target range for the 3-month Libor from 0.00%-0.75% to 0.0%-0.25%. The central bank also expand its sight deposits to 80
Swiss Franc Retreats after Surprised SNB Cut, But No Change in Up Trend
In a surprised move, Swiss National Bank cut interest rates today aiming at curbing further appreciation of the "massively overvalued" Swiss Franc. USD/CHF, EUR/CHF and GBP/CHF all made new record lows earlier this week but recovered strongly after the announcement. Nevertheless, upside of these pairs are still limited well below
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