Forex Help Forum Archive for 11/30/2011

Boston eFX 18:01 GMT November 30, 2011
Subject: Are Banks Hoarding Cash? (video) Reply   
The European Central Bank has failed to sterilize the effects of its bond-buying program for the first time in seven months. This could be a sign that the banks are losing faith in the ECB and of nervousness ahead of any euro-zone announcement.

Are Banks Hoarding Cash? (video)

limassol 09:09 GMT November 30, 2011
Subject: Market Outlook by ACFX Reply   
EUR/USD The euro dropped versus the majority of its most-traded counterparts amid speculation Europe’s effort to expand its bailout fund to 1 trillion euros ($1.3 trillion) is falling short.
The euro was little changed at $1.3317 at 5 p.m. New York time, after earlier gaining to as high as $1.3442, the strongest level since Nov. 23.

AUD/USD Australia’s dollar maintained earlier gains after reports showed capital expenditure surged while bank lending slowed.
The so-called Aussie traded at $1.0033 as of 11:32 a.m. in Sydney, from $1.0022 before the data.

USD/CAD Canada’s dollar rose as oil prices climbed and American consumer confidence increased in November by the most in more than eight years, boosting appetite for higher-yielding assets.
Canada’s currency, also known as the loonie for the image of the aquatic bird on the C$1 coin, gained 0.2 percent to C$1.0321 per U.S. dollar by 5 p.m. in Toronto.

Boston eFX 02:10 GMT November 30, 2011
Subject: EUR/USD Daily Asia Outlook 11/30 Reply   
(Dow Jones via eFXnews) EUR/USD - to consolidate. Euro sentiment soothed by relief over yesterday's successful Italian auction of EUR7.5 billion in bonds although country paid euro-era high yields. EUR/USD also buoyed by reports that euro-zone ministers are exploring options to further leverage the EFSF or establish new ways to provide credit lines such as funneling ECB loans via the IMF to struggling countries. But EUR/USD topside limited by lingering worries over euro-zone debt crisis as Moody's warned that it may downgrade the subordinated debt of 87 European banks; funding pressures of euro-zone banks (3-month EUR/USD cross-currency basis swap at minus 149 bps); fears of euro-zone recession as UBS downgraded its GDP forecast for euro area in 2012 to 0.7% contraction from previous estimate of 0.2% growth; expectations of rate cut from ECB in coming months.

Data focus: 0700 GMT German October retail sales, 0900 GMT German November labor market statistics, 1000 GMT November flash estimate euro area inflation, 1000 GMT euro-zone October unemployment.

EUR/USD daily chart .....

EUR/USD Daily Asia Outlook 11/30 (full story)

Boston eFX 02:09 GMT November 30, 2011
Subject: GBP/USD Daily Asia Outlook 11/30 Reply   
(Dow Jones via eFXnews) GBP/USD - to consolidate. Supported by GBP demand on soft EUR/GBP cross. But GBP/USD topside limited by UK's Chancellor Osborne's autumn statement admitting country's debt challenge is greater than expected because growth was coming in below expectations; Fitch's warning that UK's triple A rating could be at risk from further economic shocks unless country takes fresh measures to shore up economy; expectations of more quantitative easing from Bank of England MPC in coming months; lingering worries over euro-zone debt crisis.

Data focus: 0001 GMT UK November consumer confidence survey , 1600 GMT BOE's Miles speaks.

Daily chart .....

GBP/USD Daily Asia Outlook 11/30 (full story)

Boston eFX 02:09 GMT November 30, 2011
Subject: USD/CAD Daily Asia Outlook 11/30 Reply   
(Dow Jones via eFXnews) USD/CAD - to consolidate with bearish bias. Undermined by buoyant commodity and oil prices (Nymex crude settled up $1.58 yesterday at $99.79/bbl). But USD/CAD losses tempered by lingering worries over euro-zone debt crisis.

Data focus: 1330 GMT Canada October industrial product & raw materials price indexes, September GDP, 3Q GDP.

USD/CAD daily chart ....

USD/CAD Daily Asia Outlook 11/30 (full story)

Boston eFX 02:08 GMT November 30, 2011
Subject: USD/CHF Daily Asia Outlook 11/30 Reply   
(Dow Jones via eFXnews) USD/CHF - to range-trade. Supported by expectations of Swiss National Bank's CHF-selling intervention.

Data focus: 1030 GMT Swiss November KOF economic barometer.

Daily chart ....

USD/CHF Daily Asia Outlook 11/30 (full story)