Daily Analysis

[andy003]

In this thread i would like to share Daily update on Analysis for the day,economic events,interest rates data etc for currencies and pairs.

26th February,09 Thursday

YEN Vs USD
The yen fell to a three-month low against the dollar before reports this week that may add to evidence Japan’s recession is deepening, reducing the appeal of its currency as a refuge from the global financial turmoil. The yen fell to 97.92 against the dollar as of 12:52 p.m. in Tokyo from 97.39 yen late in New York yesterday. It reached 97.94 today, the weakest level since Nov. 14.

YEN Vs EURO
Japan’s currency also weakened versus the euro before data tomorrow that analysts say will show unemployment has risen to a three-year high and consumer prices have fallen for the first time since September 2007. It dropped to 124.67 per euro from 123.92 yesterday, when it touched 125.15, the lowest since Jan. 9.

U.S. DOLLAR
The dollar gained for a fourth day against the yen ahead of a U.S. report that may show durable goods orders fell, spurring demand for the world’s reserve currency. The dollar traded at $1.2733 per euro from $1.2723 in New York yesterday. It slipped to $1.4253 versus the British pound from $1.4201, and traded at 1.1701 Swiss francs from 1.1699.

[andy003]

Currency News Update

27th February,09 Friday

Japanese Yen
The yen strengthened the most against the dollar in six weeks and gained against the euro as technical indicators showed the Japanese currency’s declines this week were excessive. Japan’s currency pared its 7.8 percent drop against the greenback this month on speculation exporters brought home earnings as the end of the month approaches. The yen has been falling throughout the entire week so there’s sentiment that it’s oversold.

Euro & Dollar
The euro weakened, heading for a second month of declines versus the dollar, on concern the financial crisis in Europe will worsen.The dollar headed for the best month against the yen since 1995 after Japanese government reports signaled the recession is deepening.

Asia
In Asia the degree of downturn in the economies has been surprisingly substantial,” said an economist in Hong Kong today. “That has probably upset the investors".

The Indian rupee dropped to a record, on concern sliding exports and shrinking economies will deter foreign investment.India’s spending plans to help shield the economy from the global recession are “not sustainable,” said SP on 24th.India’s rupee headed for a second weekly loss after Standard & Poor’s cut the nation’s credit rating outlook to negative.

[FXexpert]

Thanks for the analysis, will you continue to post daily analysis??

[andy003]

From FXexpert

Thanks for the analysis, will you continue to post daily analysis??

Thanks fxexpert.I will try to keep the thread as updated as possible FX expert.You are welcome to join and post your analysis as well.

Forex Update:2nd March 2, 2009 Monday

EURO:
Euro fell to a one-week low vs the dollar after European Union leaders rejected calls to back an aid package for eastern Europe, fueling concern the 16-nation region’s recession will deepen.

YEN:
The yen may extend its worst month in 13 years into March on speculation traders will keep reducing holdings of long positions in the currency that bet on a rise in the exchange rate.

NZD & AUD:
New Zealand’s dollar fell to a 6 1/2-year low and Australia’s currency extended three weeks of declines after U.S. and Asian shares slumped, prompting investors to seek the safety of the greenback.

ASIAN CURRENCIES:
The South Korean won and the Indonesian rupiah led declines in Asian currencies on concern the global recession is worsening, deterring investors from buying emerging-market assets.

RUPEE:
India’s rupee slid to a record low as mounting global stock losses added to concern investors will pull money out of riskier emerging-market assets.The currency extended a two-week slump on speculation Standard & Poor’s will soon cut the nation’s debt rating to junk.

[andy003]

Forex -Currency Update 3rd March 09, Tuesday

AUD:
Australia’s dollar rose against the greenback after its central bank unexpectedly left borrowing costs unchanged, halting its most aggressive round of interest- rate cuts. New Zealand’s dollar rose from near a 6 1/2-year low.

USD:
The dollar and the yen fell after Australia’s central bank kept interest rates unchanged today for the first time in seven months, boosting demand for higher- yielding assets.

ASIAN CURRENCIES:
Asian currencies rallied on speculation central banks will intervene to stem declines as the global recession deepens. All 10 of the most-active currencies in Asia outside Japan have declined this year, with the Korean currency leading losses, as a global recession crimps demand and threaten to tip many economies into a recession.

RUPEE:
India’s rupee rose from near a record low on speculation the central bank will sell foreign currency from its reserves to limit volatility in the exchange rate. The Indian rupee is the third-worst performer in the past 12 months among the 10 most-traded Asian currencies, with a 22 percent loss, as the worsening global economy spurred global funds to dump local stocks

[andy003]

Forex Daily Currency Update

4th March 09, Wednesday

American Dollar:
The dollar rose to the highest level in more than three months against the euro after a government report showed Australia’s economy unexpectedly shrank last quarter, boosting demand for the U.S. currency as a refuge.

Euro:
The euro was dragged down by selling in the AUD following the release of Australia's GDP data. Traders said the euro also drew fire ahead of Thursday's meeting of the European Central Bank, which is expected to cut interest rates to a record low of 1.5 percent from 2.0 percent.

Japanese Yen:
The yen strengthened to 122.96 per euro from 123.31. Japan’s currency climbed 0.6 percent to 62.25 against Australia’s dollar. Japan’s currency had its worst month in February since 1995 after a government report showed the world’s second-largest economy shrank the most since 1974 last quarter and Finance Minister quit.

Australia Dollar:
Australia’s dollar touched a one- month low after the economy shrank for the first time in eight years, increasing pressure on the central bank to add to a record round of interest-rate cuts. New Zealand’s dollar slid.

India Rupee:
India’s rupee traded near a record low on concern a deepening global economic slump will damp demand. The rupee was the third-worst performer in the past 12 months among the 10 most-traded Asian currencies, with a 22.4 percent loss. South Korea’s won and Indonesia’s rupiah have declined more.

[andy003]

Forex daily currency overview

Date: 5th March 09 Thursday

Euro vs. Yen:
The euro fell, snapping two days of gains versus the yen, on speculation the European Central Bank will cut interest rates today and signal further reductions in borrowing costs to counter the region’s deepening recession.

Euro vs. Dollar:
The euro also headed for a fourth weekly loss versus the dollar before a statistics office report that economists say will reiterate Europe’s economy shrank the most in at least 13 years last quarter.

Yen:
The yen traded near the weakest in four months against the greenback after government data showed Japanese companies slashed spending at the fastest pace in a decade. Global central banks are facing “extraordinary” challenges, ECB President said this week.

Won:
South Korea’s won and Taiwan’s dollar led gains in Asian currencies as speculation China may unveil new plans to revive growth helped push up global equities.

AUD & NZD:
Australian and New Zealand dollars advanced to the highest in a week on speculation China will add to $585 billion of stimulus plans, raising demand for commodities that comprise a majority of the two nations’ exports.

Dollar index: Dollar Index traded strong yesterday and is currently trading around 88.90 with stochastic at 79.60 levels.

[andy003]

09th March 09, Monday
Here's currency digest for the day .Excerpts are taken from the Bloomberg.

* Euro gains vs. USD:
The 16 country currency euro traded close to a one-week high against the dollar amidst speculation the European Central Bank (ECB) will slow down the pace of interest-rate cuts, helping to keep the currency attractive.

* AUD & NZD Up Against the Yen:
The Australian and New Zealand dollars gained against the yen as Japan posted its first current-account deficit in 13 years in January after the nation’s exports collapsed.

[andy003]

10th March 09, Tuesday
Hello there all Traders
Here's the Forex Update for the day.

*Yen(¥)
The yen fell across the board on Tuesday as doubts about its status as a safe port eroded its reputation with overseas investors concerned about Japan's weak economic outlook.
The yen has fallen in the past month as Japan's economy is grappling with diving exports and the worst recession in more than a decade. Japan's current account balance swung to its largest deficit on record in January.

*Dollar($):
The dollar also lost ground, repeating some of Monday's sharp gains against the pound, Australian and New Zealand dollars and slipping against the euro. USD gained steeply against the pound on Monday as worries among investors about global recession mounted.

*Pound(£):
The pound recovered from a six-week low to rise 0.4 percent on the day to .The rebound forced those who had expected it to dip further to buy it back, fuelling the gain.
Traders expect the pound to remain under pressure because of worries about the UK banking sector.

[andy003]

Hello all traders this is currency news digest for some currencies

*Currency Update Digest*
March 12, 2009, Thursday

*Yen & Dollar*
The yen and the dollar rose on speculation that declines in Asian stocks will spur demand for the currencies as a shelter from the global recession.

*NZD & AUD*
New Zealand’s dollar rose to a two- week high against the U.S. and Australian currencies after central bank Governor Alan Bollard signaled he may slow the pace of interest-rate cuts and Australian unemployment increased.

*Asian Currencies*
Seven of Asia’s 10 most-traded currencies excluding the yen strengthened versus the U.S. dollar after JPMorgan Chase & Co. and Citigroup Inc. said they were profitable in January and February.

*Rupee*
Indian rupee added 0.6 percent to 51.5625 per dollar. India’s financial markets were closed the last two days for public holidays.