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NY Morning Commentary. Dollar moves back down

Written October 28, 2010 at 8:09 AM EST by Greg Michalowski 

 

The up and down of the dollar was to the downside today as the market worries about the effects of the quantiative easing.  The Fed was reported on Bloomberg to have sent a survey to dealers gauging their expectations and effects.  When QE and potential for more rather than less is expected, the dollar comes under more pressure. 

Today the initial claims is the only data expected.  Expected is 453K vs 452K last week

Archived in Economic Statistics, Forex News, Forex Trading

US Jobless Claims & Continuing Claims Data at 8:30AM

Written October 28, 2010 at 8:03 AM EST by Lawrence Fayman 

fxdd_region_0336

Archived in Economic Statistics, Forex News, Forex Trading

CBI Realized Sales

Written October 28, 2010 at 6:02 AM EST by Vincent Facchino 

CBI Realized Sales came in at 36, weaker than the 40 expected and prior reading of 49.

Gbp/Usd relatively unaffected, trading at 1.5840.

Archived in Forex News

Eurozone Confidence Data stronger than expected

Written October 28, 2010 at 5:05 AM EST by Vincent Facchino 

Eurozone Consumer Confidence came in at -11, inline with estimates.

Economic Confidence came in at 104.1, stronger than the 103.5 expected.

Services Confidence came in at 8, stronger than the 7 expected.

Business Climate Indicator for Oct. came in at 0.98, stronger than the 0.79 expected.

Positive number for the Euro as Eur/Usd trades slightly firmer on heels of news, currently residing at 1.3830.

Archived in Forex News

ECB’s Stark; financial crisis not over yet leading gto lower growth rates

Written October 28, 2010 at 4:24 AM EST by Vincent Facchino 

This negative outlook on growth keeps pressure on the Euro. Eur/Usd dipped below 1.3800 on news, currently at 1.3808.

Archived in Forex News

Sakurai; important for BOJ and government to work together on policy

Written October 28, 2010 at 3:46 AM EST by Vincent Facchino 

Japanese Vice Finance Minister Sakurai would accept any BOJ desire to increase asset fund.

Usd/Jpy bounced up 10 pips from low, trading at 81.35.

Archived in Forex News

ECB’s Weber on the wires

Written October 28, 2010 at 3:07 AM EST by Vincent Facchino 

ECB’s Weber say deficit countries must help reduce imbalances. Here are some other bullet points from his speech;

* there are economic divergences in Euro Area

* major imbalances within Euro Area a hazard

* global imbalances still pose risks to global economy

* flexible forex rate would help China rebalance growth

* recent Yuan appreciation is welcome further step

* German growth increasingly based on domestic demand

Archived in Forex News

BOJ says Fiscal 2011 CPI to rise 0.1% vs. July forecast

Written October 28, 2010 at 2:08 AM EST by Vincent Facchino 

Here are some bullet points from there monthly bulletin;

* implement monetary policy in appropriate manner

* Fiscal 2012 CPI to rise 0.6%, 2012 GDP to rise 2.1%

* Jpy effect to linger into 2011

* global fiscal debt may hurt confidence

Archived in Forex News

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