Forex Forum Archive for 02/25/2006

hk ab 13:06 GMT February 25, 2006 Reply   
nt//some bank retailer persuades me to buy their double touch dlr/jpy 109/120. Do you think it worths a look?

hk ab 13:06 GMT February 25, 2006 Reply   
nt//some bank retailer persuades me to buy their double touch dlr/jpy 109/120. Do you think it worths a look?

sofia rocco 09:17 GMT February 25, 2006 Reply   
eurusd - while capped below 1.21, targets 1.1660/1.1490. fwiw - usdchf first close above 200 weekly MA since april 2002.

hong kong nt 08:42 GMT February 25, 2006 Reply   
GOLD -- price action at 559/560 line may tell about the direction of next $50-70 move..

Victoria BC 00:03 GMT February 25, 2006 Reply   
From the globe and mail on $/can

The Canadian dollar could rise on a strong updraft of economic news Monday morning, economists said.

Statistics Canada is set to release current account data for the fourth quarter at 8.30 a.m. and economists are forecasting the numbers will show the nation had a record surplus with the rest of the world for the last three months of 2005.

The “stunning report” will reveal a surplus of $12.9-billion, more than double the year-earlier figure of $5.3-billion, Carl Weinberg, chief economist for High Frequency Economics Ltd. of Valhalla, NY, said in a commentary under the headline, “A whopper, with all the fixings.”

Mr. Weinberg said the key reason for the anticipated record current account surplus is the massive $21.6-billion fourth-quarter trade surplus. “The reason for this blow-out is simple: energy exports are rising through the roof, on both elevated prices and increased production. This is the oil windfall and the natural gas bonanza being played out with a vengeance.”

Royal Bank of Canada assistant chief economist John Anania also thinks the loonie could take flight again both as a result of the current account news and also the release Tuesday of the December and fourth quarter figures for economic growth.

“Should our forecast for the current account surplus and real [gross domestic product] growth materialize, the Canadian dollar would find some support, while bond yields would face upside pressure,” he said in a note.

Royal Bank is forecasting “some upside potential” to consensus GDP growth forecast of 0.3 per cent for December and 2.6 per cent for the quarter, he said. But he does not expect the current account surplus to quite reach the consensus forecast, which he pegs at $12.4-billion rather than the just under $12-billion figure cited by Mr. Weinberg.

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