Archive for September 23rd, 2009

Both the US and Asian session were relatively uneventful, as markets patiently wait for tonight’s FOMC meeting. However, the few minutes of excitement came on the back of the strong New Zealand GDP figures, which sent the USD tumbling. The EURUSD briefly spiked above 1.4840 before settling back down to… more from... »

The greenback fell to a one-year low against the euro and weakened versus the yen on speculation the global economic recovery is gathering strength, encouraging investors to buy higher-yielding assets. ‘The improving global picture tends to produce selling of the dollar,’ said Sean Callow, a senior currency strategist at Westpac… more from... »

For the fifth month in a row, Singapore’s consumer prices continued to fall amid a decline not only in commodity prices around the globe but also in worldwide demand and domestic consumption. These circumstances will increase the central bank chances to maintain its current fiscal policy that aims to support… more from... »

The U.S. dollar tumbled across the board in Asia on Wednesday, hitting fresh annual lows against the euro, the New Zealand dollar and the Australian dollar ahead of the latest update on monetary policy by the U.S. Federal Reserve expected later in the day. more from source »

Today the FOMC will announce its interest rate though we do not expect any change in policy stance. What will be interesting is to see is whether the Fed will announce any changes to its Treasury program. This is set to expire at the end of October more from source »

The dollar continued its slide yesterday, after only a short-lived blip of profit-taking recovery. Various inputs contrived to drive the dollar lower, including an upbeat assessment of prospects in Asia from the Asian Development Bank. ECB’s Weber also appeared to send a signal that the ECB was nonchalant about the… more from... »

Today has a heavy calendar starting with Euroland PMI, where we expect another above consensus increase , followed by the FOMC decision this evening. We expect the FOMC to keep the easing bias in place but to acknowledge the improvement in growth indicators. Inflation pressures remain subdued and we expect… more from... »

The euro rose above .48 on Tuesday for the first time in a year as dealers took advantage of deteriorating sentiment toward the dollar to target options barriers at that level. The euro was one of several currencies to benefit from across-the-board selling of dollars ahead of the Federal Reserve… more from... »

For the second straight day in Asia, the Kiwi Dollar has stolen the show. The New Zealand Dollar exploded as data showed that the country has escaped from recession, thus triggering a dynamic Dollar selloff that was amplified by the poor liquidity due to the final day of the three… more from... »

In currencies, Kiwi Dollar continued to outperform the other majors, spiking higher in the wake of the recession-ending positive GDP print. NZD/USD hit a fresh 13-month high above 0.7240, NZD/JPY was at 11-month highs above 66.00, and AUD/NZD fell to 5-month lows below 1.2080. US dollar spiked lower across the… more from... »