Forex Market Commentary
USD/CAD Retracts on Disappointing Data
By FXCompass — Friday, 23 April 2010
The Canadian dollar dropped on Friday after the release of disappointing CPI and Retails Sales data for the month of March.
Moody’s Downgrades Greece’s Credit Rating, Bailout Now Imminent
By FXCompass — Thursday, 22 April 2010
Moody’s Investors Service downgraded the Greek government bond ratings to A3 from A2 on Wednesday. The news pushed the Greek bonds yields to record heights, which makes it almost impossible for the government to finance its debt without the help of the EU/IMF bailout.
Dollar Surges on U.S Jobless Claims
By FXCompass — Thursday, 22 April 2010
Initial jobless claims decreased by 27K to 456K last week. The figure is slightly higher than expectations; analysts predicted a drop to 452K. The data could not wash off the risk-aversion sentiment which continued to damage sensitive currencies in the forex market.
Bank of England Gives an Optimistic View of UK’s Recovery
By FXCompass — Wednesday, 21 April 2010
April’s Monetary Policy Minutes revealed an optimistic view about the state of the UK’s economy. For many of Bank of England’s MPC members, downside risks are now less threatening than what they were in February.
Canadian Dollar Surges on BOC Statement
By FXCompass — Tuesday, 20 April 2010
The Canadian dollar rallied on Tuesday after the Bank of Canada signalled its intention to start withdrawing economical stimulus in the second quarter.
AUD/USD Defines a New Support Trendline
By FXCompass — Monday, 19 April 2010
The new risk-aversion wave allowed the Australian dollar to retract and complete the formation of a new medium term support trendline.
EUR/USD Could Reach New Lows
By FXCompass — Sunday, 18 April 2010
After last Friday’s equities sell-off, the sentiment towards the euro switches back to negative. Looking at the technical and fundamental outlooks, it is very easy to imagine a continuation of the down move, perhaps even a breach of this year’s 1.3267 low.
Forex Market Outlook — April 18-23
By FXCompass — Sunday, 18 April 2010
Goldman Sachs’s fraud charge casts a new wave of risk-aversion trading in the forex market. The positive effect of the Greek bailout package faded away rapidly. Traders did not hesitate to sell the euro as soon as it became very likely that the Greek government will be forced to rely on the €45 billion EU/IMF loan instead of bond auctions to pay off its debt.
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Poll
Interest Rates
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US | 0.25% |  |
UK | 0.50% |
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EURO | 1.00% |  |
JP | 0.10% |
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AUD | 4.25% |  |
CAN | 0.50% |
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CH | 0.25% |  |
NZ | 2.50% |