Market news
28.07.2011, 07:55

Forex: Wednesday's review

The dollar begins to rebound after its drop to the 11-week low versus a busket of currencies after Senate Majority Leader Harry Reid said it’s time Republicans “face facts” and agree on a compromise plan. But prolonged standoff in Washington over hiking the U.S. debt ceiling continued.
The euro goes lower against the dollar after Standard & Poor’s lowered Greece’s credit rating to CC from CCC with negative outlook. The downgrade of Greece by 2 notches takes it to the same level as Moody's Ca rating (developing outlook). Fitch Ratings last downgraded Greece 3 notches on July 3 to CCC from B+ and removed it from Rating Watch Negative, as it has been since May 20.
The Australian dollar hit a fresh all-time high versus the dollar after the Reserve Bank of Australia  reported about better-than-expected rise of consumer price index inflation in the second quarter, focusing the market’s attention back on the interest rates. 
The New Zealand dollar reach record high versus US dollar amid reported advance in business confidance in July.
Both reports have renewed speculation that the central banks may tighten their monetary policies. The Reserve Bank of New Zealand will release its interest rate decision tomorrow. Currently the main interest rate of Australia is at 4.75% and New Zealand’ is at 2.5%. Last month New Zealand central bank governor Alan Bollard hinted at a possible increase of the rate by 25 basis points in December.
The loonie plummetes against the dollar. Yesterday it hit the highest level over the last three years
Japan yen also moves down after reports from US.
EUR/USD: yesterday the pair decreased in $1.4370  area.
GBP/USD: yesterday the pair decreased in  $1.6330 area.
USD/JPY: the pair holds at Y77.55-Y78.20.
European data for Thursday starts at 0600GMT with the ILO measure of German unemployment, while the main release at 0755GMT is expected to 
produce a -10k jobless change with the rate remaining at 7.0%. Further EMU data at 0900GMT includes the business climate indicator and economic 
confidence indicator, which are expected to show some mild decline.
UK data is limited to the CBI Distributive Trades data at 1000GMT, which will provide a useful update on the health of the High Street 
going into Q3.
US data starts at 1230GMT when initial jobless claims are expected to rise 2,000 to 420,000 in the July 23 week after see-sawing in the previous weeks. Seasonal adjustment difficulties related to the usual auto retooling period should continue to be a factor. 

Latest news
25.04.2024
EUR/JPY Price Analysis: Rallies to almost 16-year high, buyers eye 167.00
25.04.2024
AUD/USD ends its winning streak after release of US GDP data
25.04.2024
Silver Price Analysis: Silver price could be forming a Bear Flag price pattern
25.04.2024
US weekly Initial Jobless Claims decline 207K vs. 214K expected
25.04.2024
Oil edges up as US inventories decline to lowest level since January
25.04.2024
USD/JPY climbs relentlessly ahead of BoJ meeting
25.04.2024
NZD/USD Price Analysis: Extends winning spell to 0.5960
25.04.2024
Gold price rises as US Dollar edges down ahead of US GDP data
Support
Personal area
Choose your language / location
English
Español
Русский
Tiếng Việt
Српски
Українська
Введите запрос
Start Bonus Open Demo Account
Forex Demo Account
Start Bonus 100%
Synchronous Trading
Our Advantages
Economic Calendar

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location