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Tuesday August 5, 2008 - 09:58:25 GMT
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FX Blog- Market Snapshot Europe Mid-Session 5 August 2008

GVI Market Snapshot- Euroope Mid-Session for August 5, 2008

Profile of Key Markets:
  • The EUR/USD is trading down sharply vs. late Monday levels in N.Y. Dealers say that the EUR lost some of its shine after crude oil broke decisively below the $120 line today. The key focus is the FOMC policy statement later today. No rate change is widely expected. June Eurozone retail sales figures were especially weak. Recall that 1.5500 was a pivot point in the EUR/USD pair.
  • This is a also key week for other central bank decisions. Both the ECB and BOE ae expected to keep key rates steady on Thursday.


    Click on chart for two year history

  • The GBP is trading lower vs. the USD. More weak data (manufacturing and industrial output figures) were released today. The U.K. is broadly seen as headed into recession, but inflation is a major concern. The EUR/GBP cross is weaker.



    Click on chart for two year history




    Click on chart for two year history

  • In the carry trade financing currencies, the USD/JPY is lower and the USD/CHF has gained. CHF/JPY has weakened. EUR/CHF is about steady.



    Click on chart for two year history

  • The commodity currencies are broadly lower vs. the USD. Thre RBA kept policy steady as expected, but the AUD has weakened sharply after the RBA signaled future policy ease. Oil is now below the $120 line. Its price level continues to exert a strong influence on most of the markets. Gold is trading lower.
  • As for oil, keep in mind we are in hurricane season so any storm that looks to be headed into the nothwestern Gulf of Mexico could spike prices higher.
  • Asian equities closed lower. European bourses are higher. U.S. equities are seen opening higher later.
  • JGB markets closed weaker. Prices on E-Z bonds are mixed. U.S. bond prices are weaker. The E-Z minus U.S. 2-yr note spread was last -171bps, 0.
  • See the GVI calendar for the full schedule of data releases.

9:28

 USD

pips

10yr

bp

2yr

bp

Stox

 

pts

USD

73.60

0.00

3.976

1.4

2.5348

0.0

 

 

 

EUR

1.5494

(88)

4.350

2.2

4.249

0.1

DAX

6511

161

GBP

1.9564

(63)

4.820

1.2

4.756

(3.9)

FTSE

5382

62

 

 

 

 

 

 

 

 

 

 

CHF

1.0526

54

3.090

1.1

2.574

(0.7)

SMI

7162

84

JPY

107.95

(27)

1.545

4.0

0.72

(1.0)

NIK

12915

(19)

 

 

 

 

 

 

 

 

 

 

CAD

1.0411

51

3.672

1.5

2.901

2.3

TSE

13972

475

AUD

0.9189

(103)

6.040

(1.2)

5.98

(17.5)

ASX

4820

(60)

NZD

0.7226

(74)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CNY

6.8553

38

SSEC

2691

(51)

 

DJIA

11284

0

Gold

884.3

(9.80)

HSI

7162

84

 

S&P

1249

0

WTI

119.16

(2.04)

 

 

 

 

NAS

2286

0

 

Forex Trading News

Forex Research

Daily Forex Market News
Forex news reports can be found on the forex research headlines page below. Here you will find real-time forex market news reports provided by respected contributors of currency trading information. Daily forex market news, weekly forex research and monthly forex news features can be found here.

Forex News
Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."



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Amazing Trader EVENT RISK Calendar:

Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays

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  • POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
  • POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity

  • POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
  • POTENTIAL PRICE RISK: Medium- Wed --15:30-- US- EIA Crude

John M. Bland, MBA
co-founding Partner, Global-View.com EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




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