FXstreet.com (Córdoba) – Greenback is rising further across the board as U.S. markets are extending losses. USD/CHF broke above 1.0300 and rose to 1.0310. The pair is now up for the day after the Swiss failed to hold gains and is 0.05% above today’s opening price. The next level to consider lies at 1.0325 and above at 1.0360. Dollar is accumulating an increase of more than 70 pips since the opening bell at Wall Street.
Against the Euro, the Franc is pulling back after EUR/CHF fell to 1.5080 posting a fresh 4-month low. In case the pair falls further it could attract the attention of the Swiss National Bank.
Thursday, September 24, 2009
Forex: EUR/USD falls further and posts 1.4663 as fresh intra-day low
FXstreet.com (Córdoba) – The Dollar is rising further across the board. EUR/USD broke below 1.4675 and fell to 1.4663, posting a fresh intra-day low. The next level to watch is at the 1.4645 and below at the 1.4600/10 zone (weekly lows). The pair is 0.15% below today’s opening price. The Euro failed to hold gains and lost them after the opening bell at Wall Street.
THE FASTBROKERS RESEARCH TEAM afirms: “For the downside, the EUR/USD has multiple uptrend lines serving as technical cushions along with weekly lows and the psychological 1.45 level. Therefore, the EUR/USD has several lines of defense to the downside. Though the uptrend is intact, we are initiating a neutral outlook on the EUR/USD as we monitor the behavior of the Dollar and U.S. equities.”
THE FASTBROKERS RESEARCH TEAM afirms: “For the downside, the EUR/USD has multiple uptrend lines serving as technical cushions along with weekly lows and the psychological 1.45 level. Therefore, the EUR/USD has several lines of defense to the downside. Though the uptrend is intact, we are initiating a neutral outlook on the EUR/USD as we monitor the behavior of the Dollar and U.S. equities.”
EU Barroso: Economic, Financial Situation Still Fragile
EU Barroso: Economic, Financial Situation Still Fragile
BRUSSELS -(Dow Jones)- The financial system and the global economy remain fragile, European Commission President Jose Manuel Barroso said Thursday, warning that state support measures are still needed.
According to the text of a speech delivered on the sidelines of the Group of 20 industrialized and developing countries, Barroso said it is too soon for governments to withdraw fiscal stimulus spending and other efforts to foster economic recovery.
"We need to keep support measures in place, but be ready with an exit strategy," he said in the speech at the University of Pittsburgh.
Barroso said the G20 leaders, who are meeting Thursday and Friday in Pittsburgh, should agree to financial-market reforms, including an international agreement to rein-in pay and bonuses. Some European Union leaders want a pact to include strict pay caps for bankers, while the U.S. favors a less-severe approach.
BRUSSELS -(Dow Jones)- The financial system and the global economy remain fragile, European Commission President Jose Manuel Barroso said Thursday, warning that state support measures are still needed.
According to the text of a speech delivered on the sidelines of the Group of 20 industrialized and developing countries, Barroso said it is too soon for governments to withdraw fiscal stimulus spending and other efforts to foster economic recovery.
"We need to keep support measures in place, but be ready with an exit strategy," he said in the speech at the University of Pittsburgh.
Barroso said the G20 leaders, who are meeting Thursday and Friday in Pittsburgh, should agree to financial-market reforms, including an international agreement to rein-in pay and bonuses. Some European Union leaders want a pact to include strict pay caps for bankers, while the U.S. favors a less-severe approach.
U.S. markets turn negative; Dollar holds near session highs
FXstreet.com (Córdoba) – Wall Street erased early gains and now is holding in the negative side, near the lows of the day. The Dow Jones is losing 0.50% and the Nasdaq is falling further, 1.35% to 2102 units. Crude-oil is plunging for the second day in a row and falls almost 4%. Gold is testing levels below $1000 an oz. Dollar remains stable near the highs of the session.
Greenback is rising across the board and a break above today highs could send it even higher. EUR/USD has a support zone at 1.4670, if it breaks below; the pair could restart the downside rally. GBP/USD is oversold and approaching to the 1.6000 area. The Swiss Franc is still holding gains against the Dollar and also across the board. EUR/CHF fell to a 3-month low while GPB/CHF tumbled below 1.6500 posting the lowest price since April.
Greenback is rising across the board and a break above today highs could send it even higher. EUR/USD has a support zone at 1.4670, if it breaks below; the pair could restart the downside rally. GBP/USD is oversold and approaching to the 1.6000 area. The Swiss Franc is still holding gains against the Dollar and also across the board. EUR/CHF fell to a 3-month low while GPB/CHF tumbled below 1.6500 posting the lowest price since April.
Dollar consolidates gains
FXstreet.com (Buenos Aires) – Greenback has spent the last two hours consolidating gains after high yielding currencies surrender on an expected drop in August New Home Sales early in the U.S. Dollar has gain strongly against GBP and CAD particularly, in the first case, after BOE’s Governor King said currency weakness will help the economy recovery; earlier this week, BOC’s Governor also warned about CAD strength delaying economic performance.
Both Australian and New Zealand dollars remain slightly positive on the day, while against Euro, dollar is turning positive. Far from the day close, if greenback remains at current levels, seems likely will extend gains during next Asian session.
Both Australian and New Zealand dollars remain slightly positive on the day, while against Euro, dollar is turning positive. Far from the day close, if greenback remains at current levels, seems likely will extend gains during next Asian session.
UPDATE: ECB, Others Extend Dollar,Swiss Franc Liquidity Operations
UPDATE: ECB, Others Extend Dollar,Swiss Franc Liquidity Operations
(Rewrites, adds detail.)
FRANKFURT -(Dow Jones)- The European Central Bank and other leading central banks Thursday said they will extend liquidity-providing operations through January 2010 to further cushion money markets.
The ECB, in agreement with other leading central banks including the U.S. Federal Reserve, decided to continue conducting U.S. dollar liquidity providing operations from October 2009 to January 2010, the ECB said Thursday.
The Bank of England and the Swiss National Bank took similar action and the Bank of Japan also said it will continue dollar liquidity providing operations into January 2010.
Accordingly, the ECB will continue to conduct seven-day dollar repurchase operations against ECB-eligible collateral in the form of a fixed-rate tender with full allotment, the bank said.
However, "given the limited demand and the improved conditions in funding markets," the 84-day U.S. dollar tender will be discontinued after the operation to be held Oct. 6, it said.
The ECB retains the right to restart the 84-day tender "if needed" along with other dollar liquidity-providing operations that have been discontinued.
In agreement with the Swiss National Bank, the ECB will also continue to hold Swiss franc liquidity-providing swap operations until Jan. 31, 2010, "to support further improvements in the short-term Swiss franc funding markets." Separately, the SNB said it, the ECB and the Hungarian and Polish central banks will conduct euro-Swiss franc foreign exchange swaps with a term of seven days through January 2010.
The BOE said in a separate statement that it will "continue to keep its U.S. dollar repo operations under review in the light of market conditions."
Web site: www.ecb.int
(Rewrites, adds detail.)
By Emese Bartha
Of DOW JONES NEWSWIRES
FRANKFURT -(Dow Jones)- The European Central Bank and other leading central banks Thursday said they will extend liquidity-providing operations through January 2010 to further cushion money markets.
The ECB, in agreement with other leading central banks including the U.S. Federal Reserve, decided to continue conducting U.S. dollar liquidity providing operations from October 2009 to January 2010, the ECB said Thursday.
The Bank of England and the Swiss National Bank took similar action and the Bank of Japan also said it will continue dollar liquidity providing operations into January 2010.
Accordingly, the ECB will continue to conduct seven-day dollar repurchase operations against ECB-eligible collateral in the form of a fixed-rate tender with full allotment, the bank said.
However, "given the limited demand and the improved conditions in funding markets," the 84-day U.S. dollar tender will be discontinued after the operation to be held Oct. 6, it said.
The ECB retains the right to restart the 84-day tender "if needed" along with other dollar liquidity-providing operations that have been discontinued.
In agreement with the Swiss National Bank, the ECB will also continue to hold Swiss franc liquidity-providing swap operations until Jan. 31, 2010, "to support further improvements in the short-term Swiss franc funding markets." Separately, the SNB said it, the ECB and the Hungarian and Polish central banks will conduct euro-Swiss franc foreign exchange swaps with a term of seven days through January 2010.
The BOE said in a separate statement that it will "continue to keep its U.S. dollar repo operations under review in the light of market conditions."
Web site: www.ecb.int
DATA SNAP: French Unemployed Rises 0.7% MM In Aug To 2.553M
DATA SNAP: French Unemployed Rises 0.7% MM In Aug To 2.553M
PARIS (Dow Jones)--The number of people seeking work in France rose by 0.7% last month against July, data from the state employment office showed Wednesday.
The number of job seekers in the euro zone's second-largest economy rose by 18,100 units to 2.553 million in August, the data showed.
On the year, the number of unemployed people seeking a job was up by 25.8%, the office said.
-By Gabriele Parussini, Dow Jones Newswires; +33 1 4017 1766; gabriele.parussini@dowjones.com;
By Gabriele Parussini
Of DOW JONES NEWSWIRES
PARIS (Dow Jones)--The number of people seeking work in France rose by 0.7% last month against July, data from the state employment office showed Wednesday.
The number of job seekers in the euro zone's second-largest economy rose by 18,100 units to 2.553 million in August, the data showed.
On the year, the number of unemployed people seeking a job was up by 25.8%, the office said.
-By Gabriele Parussini, Dow Jones Newswires; +33 1 4017 1766; gabriele.parussini@dowjones.com;
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