Daily Analysis

andy003

Master Trader
Jan 7, 2009
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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.
 
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andy003

Master Trader
Jan 7, 2009
252
1
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Currencies outlook for the day

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.
 

andy003

Master Trader
Jan 7, 2009
252
1
47
Forex-Currency update



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.
 
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andy003

Master Trader
Jan 7, 2009
252
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Forex -Currency Update

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

Master Trader
Jan 7, 2009
252
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Forex-News Update for Currencies

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

Master Trader
Jan 7, 2009
252
1
47
Forex-News Update for Currencies

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

Master Trader
Jan 7, 2009
252
1
47
Forex- News & Currency Update

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

Master Trader
Jan 7, 2009
252
1
47
~FOREX-Currencies Highlight for the Day~

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

Master Trader
Jan 7, 2009
252
1
47
~ FOREX~Update for the day~

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.
 

andy003

Master Trader
Jan 7, 2009
252
1
47
~Forex-Monday Morning Currency Updates~

Hello all traders
Here goes my 100th Post in Earnforex...:)

Forex-Currency update

16th March 09,Monday
*USD*
The dollar rose broadly on Monday, with the market looking ahead to a Federal Reserve policy meeting this week after a Group of 20 finance ministers' meeting at the weekend gave the market few trading incentives.
The Fed and the Bank of Japan are holding policy decisions this week, with traders waiting to see if the U.S. central bank signals that it will buy longer-dated Treasuries.

*Euro*
Dealers said the unimpressive outcome of the weekend meeting of financial heads from G20 nations has helped make trading rather calm Monday.
The 16-nation currency weakened against 10 of the 16 major currencies after German Chancellor and other European officials said they had spent enough money to combat the financial crisis and don’t want to blow out their budgets.

*Yen*
The yen fell for a third day against the dollar on concern a Bank of Japan plan to buy government debt will spur investors to seek higher-yielding assets elsewhere.

*Aud & Nzd*
The Australian and New Zealand dollars fell, retreating from one-month highs touched late last week, amid concerns the nations’ deteriorating economies may spur their central banks to lower interest rates to records.

*Rupee*
India’s rupee strengthened for a second day on speculation a global stocks rally will damp risk aversion and so revive investment in emerging-market assets.
 

andy003

Master Trader
Jan 7, 2009
252
1
47


FOREX~Daily Currency OverView for the Euro,Aud, Pound
FOREX~Update for the day
17th March 09, Tuesday

*Euro*
The euro rose against the dollar and approached its highest level against the yen this year as Asian stocks extended a global rally, spurring investors to buy higher-yielding assets. The euro depreciated 0.2 percent to 92.21 pence today. It strengthened 4.1 percent in March.
Europe’s single currency has weakened 3.8 percent against the pound this quarter, heading for its biggest quarterly loss in five years.

*Aud & Nzd*
The Australian and New Zealand dollars approached the strongest in a month as Asian stocks rose for a third day on optimism bank earnings will improve.

*Pound*
Sterling will extend its gain versus the dollar as the pound consolidated after dropping 5 percent since the beginning of December. The pound rose for a fourth day against the dollar today, increasing 0.9 percent to $1.4125 after dropping 1.3 percent this month. South Korea’s won led gains in Asian currencies as a widening trade surplus has eased concern that domestic banks will struggle to repay overseas debt.
 

andy003

Master Trader
Jan 7, 2009
252
1
47
FOREX~Currency Update For Today

Forex~ News Update for the Yen,USD,Rupee
18th March 09, Wednesday

*Yen*
The yen traded near the weakest level against the euro this year after the Bank of Japan said it will step up purchases of government debt, encouraging investors to seek higher-yielding assets overseas.The yen may strengthen against the dollar for the first time in five days after U.S. Treasury Secretary Geithner signaled that the winding down of American International Group may accelerate.

*Dollar*
The dollar was near a one-month low versus the euro as Asian stocks extended a rally in global equities, damping demand for the U.S. currency as a refuge from the financial turmoil.

*Rupee*
India’s rupee traded near this month’s high as share purchases by overseas investors exceeded sales for the first time since mid-February.
 

andy003

Master Trader
Jan 7, 2009
252
1
47
Forex- Currency Update

FOREX~Currency Update

19th March 09, Thursday

*Asian Currencies surge*
Asian currencies rose, led by South Korea’s won and India’s rupee, on speculation $1 trillion of bond purchases planned by the U.S. Federal Reserve will ease a global recession and revive demand for emerging-market assets.
India’s rupee and the Taiwan dollar posted their biggest gains of the year. India’s rupee reached the strongest in three weeks.

*Yen gains Appeal*
The yen rose to a three-week high versus the dollar, after gaining the most since December yesterday, as speculation boosted the appeal of Japanese assets.

*No Progress on Euro*
The euro was little changed versus the dollar, after surging the most in nine years yesterday, before a European Union report tomorrow that may show industrial production fell the most on record.

*Dollar Rally crumbles*
The rally that pushed the dollar to the highest levels since 2006 is in danger of crumbling as the Federal Reserve starts purchases of mortgage debt, adding to a flood of greenbacks in the US market.
According to one a foreign exchange analyst if the Obama administration pushes through another stimulus package, the dollar might be done.
 

andy003

Master Trader
Jan 7, 2009
252
1
47
FOREX-Currency Update for Today

Daily Currency Digest

20th march 09,Friday

*USD*
The dollar headed for a record weekly drop against the euro after the Federal Reserve ramped up supply of the currency by unexpectedly saying it will start buying Treasuries.

*Asian Currencies*
Asian currencies rose, headed for their best week against the dollar this year, on optimism stimulus spending plans will avoid a deeper global recession, reviving investor demand for emerging-market assets. India’s rupee, Taiwan’s dollar and Singapore’s dollar all had their best weekly gains since the five days ended Dec. 19.

 

andy003

Master Trader
Jan 7, 2009
252
1
47
FOREX ~ Updates for the day

23th March 09, Monday

*Asian Currencies*
Asian currencies rose, led by South Korea’s won, as gains in regional equities boosted speculation investor demand is reviving for emerging-market assets. India’s rupee rose 0.1 percent to 50.58.

*Aud & Nzd*
The Australian dollar gained for a 10th day, its longest winning streak since October 2007, and the New Zealand currency also rose as stocks rallied on optimism U.S. plans to keep borrowing costs low will boost growth in the world’s largest economy.

*Euro*
The 16-nation currency strengthened 7.5 percent versus the dollar since February, after tumbling 9.3 percent in the first two months of the year.

*Yen & USD*
The yen and the dollar fell, with Japan’s currency touching a five-month low against the euro, on speculation new U.S. government steps to help banks deal with toxic assets will boost demand for higher-yielding currencies. Japan’s fundamentals including its economy are still deteriorating, casting doubt over the appeal of its currency.
 

andy003

Master Trader
Jan 7, 2009
252
1
47
Forex ~ Currency Update For the day

Forex ~ Currency Update For the day
24th March 09, Tuesday

*Yen*
Yen fell to a five-month low against the euro on speculation U.S. plans to help banks dispose of toxic assets will encourage investors to seek higher yields.

*Euro*
The 16-nation currency strengthened 7.7 percent versus the dollar since February, after tumbling 9.3 percent in the first two months of the year.

*USD*
The dollar weakened on speculation U.S. plans to help banks dispose of toxic assets will encourage investors to seek higher yields. The U.S.dollar approached a two-month low versus the European currency after Treasury Secretary Timothy Geithner unveiled proposals to finance purchases of $1 trillion worth illiquid property assets, damping demand for the safety of the greenback.

*Aud & Nzd*
The Australian and New Zealand dollars gained for an 11th day, the longest winning streak since at least July 2007.
 

andy003

Master Trader
Jan 7, 2009
252
1
47
FOREX~Daily Currency Update

Hello there all traders

This is the currency news for Yen, Usd, Aud, Euro from the Bloomberg.
25th March 09, Wednesday

*Yen*
The yen rose against the dollar as well as against 10 of the 16 most-active currencies.
Although the yen has regained some ground after dropping on Tuesday to a five-month low against the euro and a 4-½ month fall versus the Australian dollar, according to analysts, it is likely to stay on the back foot.

*USD*
American dollar dipped against the euro, but held on to much of the gains made the previous day on profit-taking in the wake of its slide the previous week.

*Nzd & Aud*
The Australian and New Zealand dollars fell for a second day as investors bet the currencies’ longest winning streak since 2007 may have been overdone.

*Euro*
The euro held steady against the yen, having pulled back from a five-month high of 134.50.
Against the dollar, the euro was 0.1 percent higher, having retreated from a 2-½ month high hit last week.
 

andy003

Master Trader
Jan 7, 2009
252
1
47
Japan Gripped by Global recession


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Japan is mired by deepening global recession as exports halved for a second consecutive month in February.Exports in January had been dismal as well.

Japanese economy is exclusively export based:
As one of the world's largest export based economy Japan has suffered more setback than other countries. The country island has recorded a 49.4% plunge in its exports even as consumers all over the world tighten their belts to cut costs.

Another stimulus package anticipated:
The government is expected to introduce a third round of stimulus package worth 20 trillion soon.
 
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andy003

Master Trader
Jan 7, 2009
252
1
47
FOREX - Currency News Digest for the Day

Hello there investors
Here's currency news update for the Yen, Aud,Usd & the Euro from Bloomberg
26th March 09, Thursday

*Yen*
The yen fell, approaching a one- week low against the dollar on speculation government reports will show Japan’s recession is deepening and thereby reducing demand for the currency.

*Aud & Nzd*
The Australian and New Zealand dollars rose as Asian stocks gained for a fourth day, fueling speculation investors will buy more higher-yielding assets.

*USD*
Treasury Secretary Timothy Geithner sent the dollar tumbling with comments about China’s ideas for overhauling the global monetary system, only to drive it back up by affirming that the US dollar should remain the world’s reserve currency.

*Euro*
Traders trimmed bets the euro will gain versus the dollar on speculation the European Central Bank will lower interest rates to bolster the region’s economies.