Posts Tagged ‘FX’
Currency Articles - October 15, 2010 16:54
US monetary policy is proving to be the key focus in the markets at the moment. Most Traders are paying particular attention to Wednesday’s release of the Fed’s latest beige book. This will provide the basis for discussion at the November FOMC meeting when markets expect fresh quantitative easing measures.
Today we have seen another day of continuation of trend. There is clear resistance in the market halting a GBP/USD break through 1.60 and EUR/USD at the psychological level of 1.40. The global stock markets have rallied 1% in the US and 1.7% in the UK.
Global stock markets have declined today, the USD has come off its highs and is trending back towards support. The fed is releasing its minutes from the 21st September meeting this evening at 1900. The market will be looking to these minutes to establish how the Fed intend to ease monetary policy and undergo QE2.
Employers in the US have cut considerably more jobs than expected, cutting 95,000 jobs leaving the current unemployment rate in the US at 9.6%. Following this announcement the global stock markets have declined pulling back some of the gains gathered this week so far.
Today has been an extremely volatile day in the FX markets, Halifax House price data has shown this morning that house prices have dropped the most since at least 1983. The figures were expected to show a 0.2% decline and came out at -3.2%. This could be the initial signal that we are heading back […]
Last week saw significant volatility in FX markets, the Euro gained against both Sterling and the US Dollar despite problems in Ireland and the announcement of an Allied Irish Bank bailout package set to cost the Irish tax payer â‚¬50 billion.