- 
- 
- 
Welcome,
Guest!
TechnicalCentral BanksForex Brokers
Trading Tools |
Dust settles from Emergency rate cut. Aussie CPI above comfort band
0
votes
Currency Trading Summary U.S. Dollar Trading (USD) paired losses against a number of majors following Wednesdays decline. The Fed rate cut did little to calm investor’s fears of a U.S. recession and its effect on the broader global economy. US share markets saw stock prices rebound with the NASDAQ was up by 144.51 pints (+1.67%) whilst the Dow Jones was also up by 298.98 (+2.50%). Whilst Crude Oil prices were lower on by US$2.22 a barrel to US$86.99. Looking ahead, Initial Jobless claims, and Existing Home sales for the month of December will prove to be the key data releases on Thursday, with forecasts lying at 4.95mln (Prior: 5.00 mln) The Euro (EUR) gave up its previous session gains versus the greenback, despite the emergency rate cut from the Federal Reserve. In data news Eurozone services sector fell to 52 for the month of January, whilst the Manufacturing rose to 52.6. More importantly ECB President Trichet said he's committed to fighting inflation, attempting to quash speculation he'll follow the U.S. Federal Reserve in cutting interest rates after stocks plunged. Overall the EURUSD traded with a low of 1.4510 and a high of 1.4685 before closing the day at 1.4609 in the New York session. Looking ahead, the German IFO index is the key piece of data out of the EZ today with forecasts lying at 102.30, lower than the previous 103.00. The Japanese Yen (JPY) advanced on Wednesday as investors reduced carry trades on global economic outlook. The USDJPY pair fell to a low of 104.98 during the day, confirming the lowest level since May 2005. Overall the USDJPY traded with a low of 104.98 and a high 107.38 before closing the day at 105.93 in the New York session. The Sterling (GBP) fell against the dollar after a government report showed the U.K. economy grew at the slowest pace in more than a year in the fourth quarter, adding to the case for the Bank of England to cut interest rates. The BoE minutes confirmed the MPC had voted by 8 to 1 for keeping rates on hold on January 10 as inflation concerns remained. Overall the GBPUSD traded with a low 1.9467 and a high of 1.9644 before closing the day at 1.9542 in the New York session. The Australian Dollar (AUD) was initially buoyed by positive CPI in at 0.9% for the fourth quarter boosting inflation towards the 3.6% on a yearly scope, coinciding with the highest inflationary figures in 16 years, and well above the RBA target band of 2% to 3%. Nonetheless any further upside moves were limited with ongoing concerns in equity markets. The AUDUSD traded with a low of 0.8613 and a high of 0.8742 before closing the day at 0.8703 in the New York session. Gold (XAU) pared most of its losses in volatile trade on Wednesday on safe heaven buying and bargain hunting at lower price levels. XAU traded with a low of 877.10 and a high of 895.60.
Euro – 1.4605 Next Analysis:
Content Provided by:
Easy Forex
Easy-Forex™ Trading Platform, founded by a group of bankers, Forex and Internet experts, offers Forex traders direct access to the global currency markets. Easy-Forex™ revolutionary Online FX trading platform is the first online FX trading system allowing clients to deal Forex as a ...
Disclaimer:
The information and data entailed in this website or otherwise made accessible to you on this website are provided to Easy-Forex™ by a third party provider. Such information and/or data are made accessible for informative purposes only and they can under no circumstances be considered as a recommendation to you by Easy-Forex™ or any Easy-Forex™ personnel to engage in any trade. Hence, neither Easy-Forex™ nor any of its personnel can under any circumstances be held responsible for any outcome of trading decisions or trades in regard to any of such information and/or data. You hereby acknowledge that accessing and reviewing any of such information and/or data and/or using any of the information entailed in this website or otherwise made accessible to you on this website is your sole responsibility and at your own risk and you will have no claims with regards to any such information and/or data against Easy-Forex™ or any of its personnel. If you are unable to agree to this, you should not access and/or make use of any such information and/or data. Easy-Forex™ endorses responsible and moderate trading. Forex trading (OTC Trading) involves substantial risk of loss, and may not be suitable for everyone and we would like to recommend you not to risk any money, you cannot afford to lose. The transaction of such financial instruments known as Forex, fx, or currency, and dealt on a valued basis known as 'spot' or 'forward', 'day trading' and 'option', can contain a substantial degree of risk. Before deciding to undertake such transactions with Easy-Forex™, and indeed, any other firm offering similar services, a user should carefully evaluate whether his/her financial situation is appropriate for such transactions. Trading foreign exchange may result in a substantial or complete loss of funds and therefore should only be undertaken with risk capital. The definition of risk capital is funds that are not necessary to the survival or well being of the user. Easy-Forex™ strongly recommends that a user, who is considering trading foreign exchange products, read through all the main topics contained in the Easy-Forex™ website so that he/she may obtain a clear and accurate understanding of the risks inherent to ‘forex’ trading. Opinions and analysis on potential expected market movements contained within the Easy-Forex™ website are not to be considered necessarily precise or timely, and due to the public nature of the Internet, Easy-Forex™ cannot at any time guarantee the accuracy of such information. Information provided on this website is intended solely for informational purposes and is obtained from sources believed to be reliable and accurate. Information is in no way guaranteed. Easy-Forex™ and the Easy-Forex™ logo are trademarks and/or registered trademarks of Easy-Forex™ in the United States and/or other countries.  Related Products  Price: $ 49.95 Overview Adaptation is the name of the game in long term trading success. Join Fernando Gonzalez ...
 Price: $ 49.95 Overview This course is more than simple rules, this class explores and shows you how to ...
|
|
||
|
||
How often do you use the economic calendar? |
||
 |
||
|
