A busy week

A busy week

From Currencies Direct blog, 3 years ago Similar articles

Last week saw significant risk aversion played out as stock markets dropped dramatically where as this week looks a little firmer. Articles in the Italian media suggest that the International Monetary Fund (IMF) is preparing a ?600 billion deal for Italy in the event of deterioration in the debt crisis- this could provide market support in the early part of the week. Further support may also come from reports in Germany that German Chancellor Merkel and French President Sarkozy are putting...

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WTI Crude ? Head and Shoulders Neckline Tested

WTI Crude ? Head and Shoulders Neckline Tested

From Market Pulse FX, yesterday, Similar articles

WTI saw some strength towards the end of last week and the opening day of this on the back of a larger than expected drop in inventories and an apparent hint from OPEC that it may be willing to consider production cuts. That has been offset over the last couple of days by figures showing record output from Saudi Arabia and today, a larger than expected build in crude oil stocks. We saw a big correction in WTI between Thursday and Monday ? rallied more than 30% off Wednesday’s lows ?...

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FX Snapshot: VIX Rises as Asian Market Rout continues

FX Snapshot: VIX Rises as Asian Market Rout continues

From Market Pulse FX, yesterday, Similar articles

View from the FX Dean: Tuesday September 2 Asia and Euro equities, along with U.S futures remain under pressure, but have reversed some of their initial deeper declines. No significant fundamental catalysts are being attributed to the bounce, although more stimulus measures out of China are helping sentiment. Volatility index up +10.5% Wednesday to 31.40 China is supposedly imposing controls to prevent large capital outflows. This morning, the Shanghai Composite has ended their shortened...

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Europe Seen Higher as Panic in Asia Eases

Europe Seen Higher as Panic in Asia Eases

From Market Pulse FX, yesterday, Similar articles

Stability in Asian markets overnight is offering support to European indices ahead of the open on Wednesday following another turbulent start to the week. In the absence of changing fundamentals, we appear stuck in a sentiment driven market that is being controlled by fear of further declines and instability. China has been largely behind much of this in recent weeks, with stocks in the country experiencing an enormous amount of volatility and selling pressure. The fundamentals here haven't...

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USD/CAD Loonie Soars as Oil Surges Following Low US Inventories

USD/CAD Loonie Soars as Oil Surges Following Low US Inventories

From Market Pulse FX, 3 days ago, Similar articles

Oil recovers after U.S. inventories drop and OPEC emergency meeting rumours gain traction. China stock market rout continues but remains contained. Federal Reserve got support from Jackson Hole symposium. Canadian data in lockstep with American indicators this week. West Texas Crude jumped above $48 after a U.S. based report showed a decline in monthly oil inventories. The rapid rise of the black stuff boosted the Canadian dollar which regained some of the losses from last week. The...

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Oil Lower Due to China Demand Fears and Supply Glut

Oil Lower Due to China Demand Fears and Supply Glut

From Market Pulse FX, 3 days ago, Similar articles

Oil fell below $49 a barrel on Monday after its biggest two-day rally in six years last week, pressured by a supply glut and renewed concern about a hard landing for China’s economy. International benchmark Brent crude climbed 10 percent last week but was still heading for its fourth straight monthly decline and has risen in only two of the past 14 months. At 1340 GMT, Brent LCOc1 was down $1.28 at $48.77 a barrel and U.S. crude CLc1, which had rallied 12 percent last week, dropped...

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USD/CAD Loonie Slides After Oil Drop

USD/CAD Loonie Slides After Oil Drop

From Market Pulse FX, 3 days ago, Similar articles

The Canadian dollar weakened against the U.S. dollar on Monday as volatile crude prices retreated and as investors positioned for month-end trading and ahead of a busy week for economic data. Oil prices slid after staging their biggest two-day rally in six years last week, on renewed worries over excess supply and China’s slowing economy. After a quiet period on the economic data front, investors are turning their attentions to this week’s Canadian data including second quarter...

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Three Main Takeaways From Fed Fischer's Speech

Three Main Takeaways From Fed Fischer's Speech

From Market Pulse FX, 4 days ago, Similar articles

1. Central bankers are following developments in China's economy. Even before China's stock market began to plunge this week, the U.S. Federal Reserve was questioning its stance on an interest-rate increase planned for some time later this year. Many experts had forecast September as the most likely time frame for the central bank to lift rates for the first time in nearly a decade. At this moment, we are following developments in the Chinese economy and their actual and potential effects on...

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Week Ahead in FX: China Indecision Could Delay Fed Rate Hike

Week Ahead in FX: China Indecision Could Delay Fed Rate Hike

From Market Pulse FX, 6 days ago, Similar articles

Only U.S. employment could Restore Fed to September Hike Timeline Chinese officials learnt a big lesson on the speed of market reactions this week. The Chinese government miscalculated the effect of not announcing expected stimulus measures over the weekend and instead put forth a pension plan investment reform. The losses in capital markets going into the weekend had pressured the government into quick action. The devaluation of the Yuan had put the government in the driver's seat only to be...

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NFP Could Restore Fed's Rate Hike Confidence

NFP Could Restore Fed's Rate Hike Confidence

From Market Pulse FX, 6 days ago, Similar articles

There is no such thing as a slow week in the forex markets. Last week on paper looked like a good candidate with little market moving data on deck. The Chinese stock market and the tame first response by the government to contain the crisis changed all that. The USD was caught on the back-foot as the stock market sell off reached a global scale and investors looked for safe haven in the Japanese Yen and the European single currency. Gold gained versus the USD as uncertainty on a thin...

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USD/CAD Loonie Faces Big Week as Recession Looms

USD/CAD Loonie Faces Big Week as Recession Looms

From Market Pulse FX, 6 days ago, Similar articles

Oil recovers, but not enough to stop Loonie drop China jitters remains, but Fed reaction three weeks away Canada data in lockstep with US The CAD had a rough week as the Chinese stock market rout grabbed headlines and spread panic around the world. Canada was under attack from two fronts. Lower demand for commodities was expected after China was not able to contain a strong sell off in their local stock market. Safe haven flows pulled out of the USD and into more stable asset classes. U.S....

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EXCHANGE RATES

1 GBP = 1.221 EUR
12.53 ZAR - South African Rand
2 SGD - Singapore Dollar
1.469 CHF - Swiss Franc
1.542 AUD - Australian Dollar
1.599 USD - U.S. Dollar
12.406 HKD - Hong Kong Dollar
1.581 CAD - Canadian Dollar
1.551 USD - U.S. Dollar
12.048 HKD - Hong Kong Dollar

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