Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

Show news:


08.09.2011 11:44

European session review: Dollar holds firm ahead of Obama’s jobs speech

Data released:
01:30    Australia Employment Change s.a. (Aug)     -9.7    10.0K    -0.1K    3    
01:30    Australia Unemployment Rate s.a. (Aug)     5.3%    5.1%    5.1%
06:00     Germany     Current account (July) unadjusted, bln    7.5    9.5    11.5 (11.9)
06:00     Germany     Trade balance (July) unadjusted, bln    10.4    11.0    12.7
11:00     UK     BoE meeting announcement    0.50%    0.50%    0.50%
11:45     EU(17)     ECB meeting announcement    1.50%    1.50%    1.50%

The dollar strengthened versus the euro and yen before President Barack Obama unveils proposals to spur job growth and the U.S. economy, making it less likely that the Federal Reserve will add to monetary easing.
The greenback snapped yesterday’s losses versus the yen and the euro on prospects Obama’s plans will boost growth.
“To announce a broad program to fight unemployment is always something that might be perceived as dollar-positive by the market,” said Lutz Karpowitz, a senior currency strategist at Commerzbank AG in Frankfurt.
Obama, facing re-election in 2012, will address a joint session of Congress today on proposals to speed job creation that may inject more than $300 billion into the economy next year. Almost half the stimulus may come from tax cuts, including an extension of a 2 percentage-point reduction in the payroll tax paid by workers due to expire Dec. 31 and a new decrease in the portion of the tax paid by employers.
Euro eased against itsmain rivals on speculation European Central Bank President Jean-Claude Trichet will signal a less aggressive stance toward inflation. ECB: Leaves rates unchanged at 1.50%, as expected
Demand for the euro was limited on speculation the ECB will lower inflation and growth forecasts and signal a pause in interest-rate increases at today’s meeting in Frankfurt.
“The situation surrounding the euro hasn’t changed at all,” said Masahide Tanaka, a senior strategist in Tokyo at Mizuho Trust & Banking Co., a unit of Japan’s third-largest bank by market value. “If Trichet downgrades his inflation outlook, the market will price in a halt in interest-rate increases, weighing on the euro.”
The Swiss franc weakened against the euro for a third day as global stocks rose. The pound rose against most of its peers as the Bank of England kept its main rate at a record low 0.50%.

EUR/USD trade near the session lows $1.4035.
GBP/USD tested $1.6040/50 bafore eased back to $1.6010. Support remains around $1.5915/00, ahead of $1.5780.
USD/JPY fell from Y77.42 to Y77.15.

The main event of the day is Trichet press-conference due at 12:30 GMT. Also at 12:30 GMT Canada's and US Trade Balances are due to come.

08.09.2011 11:33

EUR/GBP extends losses

Market Focus

  • US nonfarm payrolls rise more than expected in July
  • Canada’s merchandise trade deficit widens in June
  • Canada unemployment rate falls to lowest level since October 2008
  • Canada Ivey PMI falls less than expected in July
August 2017
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002
Mon
Tue
Wed
Thu
Fri
Sat
Sun
21
22
23
24
25
26
27
28
29
30
31

Quotes

All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.

To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

  • © 2011-2017 TeleTrade-DJ International Consulting Ltd

    TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

    The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

  • The information on this website is for informational purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

  • TeleTrade cooperates with SafeCharge Limited, which is an electronic money institution authorized and regulated by the Central Bank of Cyprus and is a principal member of MasterCard Europe and Visa Europe. We also cooperate with Moneybookers and Neteller, which offer electronic e-wallet services authorized and regulated by the Financial Conduct Authority.

    Please read our full Terms of Use.

  • To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

    TeleTrade-DJ International Consulting Ltd currently does not provide its services to residents or nationals of the USA, and also doesn't provide retail Forex and CFD accounts to residents or nationals of Belgium.

Connect with Us
Share on
social networks
Online
consultant
Request a callback
Top Page