ZAR

IFX Market Report

Submitted by qrops on Wed, 17/Feb/2010

IN THE UK

 

  • Mixed bag for sterling as euro makes gains
  • CPI data on par with consensus, gives sterling an initial boost
  • Eyes on BoE minutes today
  • Barclays Bank show profit of £11.6bn

 

IN THE US

 

  • Strong report on manufacturing increases global risk appetite, denting dollar strength
  • Better than expected profits for many American companies boost stock prices

 

IN THE EU

 

  • Euro gains across board as analysts view euro as oversold
  • Euro up over 2 cents against USD, almost a cent against GBP
  • Greece fiscal state still a concern, 1 month to come up with a plan to cut its deficit

 

At 9.15am this morning the pound was at $1.5755, €1.1449, 12.09 ZAR, 142.493 JPY, 11.28 SEK and AU$1.7479. The euro was at $1.3755 against the US dollar.

 

Today’s key levels of support and resistance are:

 

GBPUSD                Support: 1.5675 1.5564 1.5504        Resistance: 1.5846 1.5906 1.6017

GBPEUR                Support: 1.1423 1.1380 1.1331        Resistance: 1.1515 1.1564 1.1607

EURUSD                Support: 1.3700 1.3645 1.3590        Resistance: 1.3805 1.3840 1.3885

 

IFX Market Report

Submitted by qrops on Fri, 05/Feb/2010

IN THE UK

  • GBP/USD reaches 8 ½ month low at $1.5655
  • BOE keeps interest rates on hold
  • BOE keep Quantitative Easing on hold, with view for further cash injections if necessary.
  • PPI Input expected at 0.7%m/m (0.1% previously)
  • PPI Output expected at 0.3%m/m (0.5% previously)

 

IN THE US

  • Further risk aversion returning to the market sees the Dollar reach 7month highs against the basket of currencies.
  • Non-Farm Employment Change at 13:30 today expected at 10K (-85K previously).
  • Unemployment Rate expected at 10% (10% previously)

 

IN THE EU

  • Traders concerns over poor EU countries fiscal health
  • ECB keeps interest rates on hold
  • Trichets tries to smooth out concerns over Greece and Portugal deficit figure of 6%
  • EUR/USD reaches 8½ month lows at $1.3650

 

OVERVIEW

This morning we have seen rising risk aversion return to the market on concerns over the fiscal problems in some Eurozone countries (despite Trichets comments yesterday), lifting the appeal of safe heaven currencies such as the US Dollar and Japanese Yen. This has allowed the US Dollar to see 7 month highs against the basket of currencies, and next week should prove interesting for all.

 

At 09.30hrs this morning the market was at GBP/EUR €1.1450; GBP/USD $1.5690; GBP/CAD $1.6840; GBP/CHF 1.6862; GBP/ZAR 12.06; GBP/JPY 144.70; EUR/USD 1.3710.

 

Key levels of Support and Resistance today are GBP/USD 1.5604 - 1.5780; EUR/USD 1.3630 - 1.3770; GBP/EUR 1.1390 - 1.1516

 

 

 

IFX Market Report

Submitted by qrops on Tue, 02/Feb/2010

IN THE UK

 

  • Sterling extends losses
  • Mortgage lending data falls
  • Election ‘hung parliament’ possibility back
  • UK manufacturing PMI hits 15 year high

 

IN THE US

 

  • USD gains against sterling, 1.5850
  • Obama unveils plan to recoup $1.5trillion
  • Better than expected US manufacturing data

 

 

IN THE EU

 

  • Two speed Europe is split by manufacturing PMI
  • Euro gains 1% against GBP

 

At 9.30am this morning the pound was at $1.5931, €1.1433, 11.82 ZAR, 144.323 JPY, 11.54 SEK and AU$1.8086. The euro was at $1.3929 against the US dollar

Today’s key levels of support and resistance are:

GBP/USD:              Support: 1.5869, 1.5794, 1.5739                      Resistance: 1.5999, 1.6054, 1.6129
EUR/USD:              Support: 1.3851, 1.3886, 1.3921                      Resistance: 1.3995, 1.3970, 1.4005
GBP/EUR:              Support: 1.1396, 1.1338, 1.1279                      Resistance: 1.1513, 1.1572, 1.1630    

 

IFX Market Report

Submitted by qrops on Thu, 28/Jan/2010

IN THE UK:

  • Sterling recovers some of its previous day’s losses.
  • BoE member Andrew Sentance makes hawkish comments on UK inflation.
  • CBI data comes in at a lower level then expected.

 

 

IN THE EU:

  • Some euro zone countries offer support to the pound.
  • Concern over the fiscal health of Greece weakens the euro to a 5 month low.
  • German CPI comes in 0.2% below consensus

 

IN THE US:

 

  • Mortgage applications & new home sales data are weaker then predictions.
  • Fed interest rate decision held at 0.25%.
  • Markets await durable good orders early afternoon.

 

 

 At 9.30am this morning the market was at €1.1585, $1.6256, 1.7197 CAD, 1.7064 CHF, 12.29 ZAR, 146.86 JPY, 11.82 SEK. EUR/USD 1.4027.

IFX Market Report

Submitted by qrops on Wed, 27/Jan/2010

IN THE UK:

  • Q4 GDP figures show growth
  • UK exits recession
  • Mortgage Approvals better than expected
  • UK economic outlook remains uncertain

 

IN THE EU:

  • German Business expectations look optimistic    
  • Eurozone Banking sector state, weighs heavily on Euro

 

IN THE US:

  • Consumer Confidence rises throughout January
  • S&P/Case-Shiller index showed a fall in U.S. home prices.
  • Chinas bank plans increase appetite for USD safehaven
  • Eyes on FED Interest Rate decision tomorrow

 

At 9.15am this morning the markets were at, $1.6148, €1.1489, 12.3085 ZAR, 144.34 JPY, 1.7193 CAD, 1.6906 CHF, 11.7604 SEK and AUD $1.7980. EUR/USD 1.4096.

 

 

Syndicate content