FXDD Today and Tomorrow: Weekend Edition: A recap of today and preview of next weeks key data (PDF)
FXDD Today and Tomorrow :Weekend Edition, is now available for download. The concise one day report, gives a snap shot of the market near the close of trading. It also gives a picture of the trend of the major economic releases due out over the next 24 hours. To access the report click on the following link:
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Greg Michalowski
Trading forex is risky and should only be done with risk capital that will not change your lifestyle. Traders could lose all of their risk capital trading forex. FXDD does not guarantee any recommendation made within this commentary. Traders should make market assessments and take trading positions based on their own personal market analysis, risk tolerance and financial condition. In addition, care should be made to only use leverage which is congruent with your personal risk tolerance. Although care was taken in creating this report, FXDD does not guarantee the accuracy of the information
Quiet end to the week/month
The market digested a lot of news today and seemed intent to to let sleeping dogs lie in the afternoon NY trade.
The USDJPY, GBPJPY and EURJPY moved up for the month. The EURUSD fell slightly as did the GBPUSD. AUDUSD and NZDUSD ended pretty much unchanged.
Below are the month summaries for some of the major currency pairs
Close Jan Feb Close
EURUSD 1.2804 1.2676
GBPUSD 1.4491 1.4315
USDJPY 89.83 97.60
USDCHF 1.1596 1.1698
AUDUSD 0.6352 0.6395
NZDUSD 0.5075 0.5007
USDCAD 1.2263 1.2720
GBPJPY 130.17 139.71
EURJPY 115.00 123.72
Thank you for your business. Have a great weekend.
Greg Michalowski
VP and Chief Currency Analyst
Feds Rosengren on the newswires
- FINANCIAL MARKET SUPPORT MUST NOT BE DELAYED
- ECONOMY SHRINKING SIGNIFICANTLY IN EARLY ’09
- SEES PICKUP IN THE SECOND HALF OF THE YEAR ON GLOBAL GROWTH MEASURES
- FINANCIAL MARKET SUPPORT NEEDED WITHOUT DELAY
Report Mexican Central Bank is intervening in the currency market
Rate is USMXN 15.0600. This is the 3rd instance of intervention in the last week or so.
GE announces they will cut dividend
From $.31 per quarter to $0.10 per quarter. Will save $9 billion per year.
USDCAD moves to new highs. Upside break gives pair upside momentum
The USDCAD has moved to new highs after a period of consolidation. The pair moved above resistance at the 1.2613 level earlier today and corrected to a low of 1.2637 after the market stalled on the worse than expected Current Account deficit. Since then, however, the buyers have returned,pushing the price above the 1.2700 level. The high from January 19th at 1.2763 is the next hurdle. Above that and the triple top at the 1.3000 level comes into focus.
Fed’s Yellen on the news sires
- FED FORECAST MAY KEEP INFLATION EXPECTATIONS AT 2%
- FED CREDIBILITY WILL KEEP PRICE EXPECTATIONS MOORED
Major Opportunities in the Yen. Next weeks preview
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