Forex
3. July 2009 | 12:31(AFX UK Focus) 2009-07-02 16:54 UPDATE 2-Danish June forex reserves rise, rates seen steady
COPENHAGEN, July 2 (Reuters) - Denmark’s foreign exchange reserves rose by 5.0 billion crowns to 330.3 billion ($62.59 billion) in June against economists’ expectation of no change, central bank data showed on Thursday. The central bank, whose main lending rate stands at 1.55 percent, signalled no change in interest rates. Economists also said the modest rise in forex reserves suggested there … (News Source: Interactive Investor - 16:17:29)
(AFX UK Focus) 2009-07-02 14:55 Russia c.bank says scraps forex recommendation
MOSCOW, July 2 (Reuters) - Russia’s central bank said on Thursday it was scrapping its recommendation for commercial banks not to increase net foreign currency assets from the third quarter due to the stabilisation of the forex market. The recommendation was issued in October 2008 just before the central bank announced a start of the gradual devaluation of the rouble. The recommendation linked … (News Source: Interactive Investor - 14:17:43)
Forex Seasonality: Canadian Dollar and Japanese Yen May Decline in July
Forex trading market seasonality is an effect widely studied as a primary mover of major currency pairs, as long-term studies suggest that certain seasonal patterns may be able to predict forex price moves. (News Source: Daily FX - 20:53:41)
Forex Options Weekly Forecast
Forex options markets show that professional traders remain remarkably indecisive, and the lack of clear-cut sentiment on the US Dollar makes it difficult to set short-term expectations with any sense of certainty. More medium-term to longer-term options broadly favor US Dollar weakness. (News Source: Daily FX - 20:08:31)
Forex Sentiment Indicator Forecasts EURUSD Losses Following NFP’s
EURUSD - Extremely choppy Euro/US Dollar price action has made for sharp shifts in our sentiment indicator, and the most recent turn suggests that the EURUSD could continue to decline. The ratio of long to short positions in the EURUSD stands at -1.10 as nearly 52% of traders are short. (News Source: Daily FX - 03:23:50)
Short-Term Forex Technical Outlook: NZD/USD
The New Zealand dollar weakened against the greenback this week following the rise in risk aversion, and the high-yielding currency may continue to face selling pressures over the near-term as investors remain fearful of a protracted recession in the global economy. (News Source: Daily FX - 04:53:21)
Forex Market Update: Japanese Yen Crosses Pare Losses In European Trade
JPY pulled back from its Asian session highs amid reports of bargain hunting in the crosses following reserve management interest for GBP and EUR. USD-JPY stabilized after hitting 95.71 and is changing hands in the low 96s, although the dollar is generally a touch easier in early trade and further gains are capped. (News Source: Daily FX - 08:23:31)
Forex Market Update: Major Currencies Hold Range Ahead of U.S. Holiday
Asia FX Summary (July 3rd): The dollar consolidated Thursday’s gains in trading activity in Asia on Friday with dealings see fairly subdued with the major events of the week, the ECB and U.S. jobs data, now out of the way and with the U.S. holiday later today. (News Source: Daily FX - 06:38:49)
(AFX UK Focus) 2009-07-03 10:55 UPDATE 2-Japan’s new forex tsar seen sticking current stance
TOKYO, July 3 (Reuters) - International policy veteran Rintaro Tamaki, who will become Japan’s top currency diplomat in a regular personnel reshuffle at the Finance Ministry, is not expected to make major changes in policy, despite facing a number of thorny issues. Tamaki, who takes over at a time of volatile financial markets and an economy in its worst recession in recent history, will assume … (News Source: Interactive Investor - 10:17:33)
Forex: USD/CHF rises above to 1.0870, recovering initial losses
FXstreet.com (Barcelona) - After falling to test 1.0830 (EMA55 hourly channel) from 1.0880 in the Asian session, USD/CHF has begun to recover its previous losses to post 1.0876 in the European session.Currently the pair is trading around 1.0860/70. (News Source: The Forex Market - 09:18:44)
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