Euro Commentary for 16-Mar-10

Receive this report via email for free

Compelling Content for Websites & Investors
Show this report on your site

Euro Commentary provided by GCI Financial Ltd:
Tables & Charts

The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bisa around the US$ 1.3685 level and was capped around the $1.3775 level. The Federal Open Market Committee is not expected to make any significant changes to monetary policy tomorrow when its interest rate decision is announced. The Obama administration is said to favour San Francisco Fed President Yellen to replace retiring Vice Chairman Kohn. It is believed Obama may stack the Fed Board with so-called monetary doves to retain a downward bias on interest rates. Data released in the U.S. today saw February capacity utilization rise to 72.7% from 72.5% while February industrial production fell to +0.1% from the prior reading of +0.9%. Also, January total net Treasury International Capital flows printed at –US$ 33.4 billion, down from a revised +US 53.6 billion for December. Net long-term TIC flows tumbled to US$ 19.1 billion from the prior reading of US$ 63.3 billion. These data mean the U.S. did not cover its trade deficit in January...continued 

Euro Focus
 
Day's Change 52-Week High 52-Week Low

Instrument

Current

 Points % Date Value Date Value
Exchange Rates

16-Mar-10
EUR/AUD This marker indicates the current chart. 1.4961 0.0000 0.00% 18-Mar-09 1.9957 9-Mar-10 1.4853
EUR/CAD This marker indicates the current chart. 1.3938 0.0000 0.00% 19-Mar-09 1.6948 15-Mar-10 1.3938
EUR/CHF This marker indicates the current chart. 1.4516 0.0000 0.00% 16-Mar-09 1.5388 15-Mar-10 1.4516
EUR/JPY This marker indicates the current chart. 123.5443 0.0000 0.00% 7-Aug-09 138.3835 1-Mar-10 120.8234
EUR/USD This marker indicates the current chart. 1.3675 0.0000 0.00% 25-Nov-09 1.5110 13-Mar-09 1.2927
EUR/USD Fwd-1 Yr This marker indicates the current chart. -9.5000 0.0000 0.00% 17-Mar-09 38.2000 25-Nov-09 -64.3000
GBP/EUR This marker indicates the current chart. 1.1010 0.0000 0.00% 16-Jun-09 1.1840 18-Mar-09 1.0581
 
Interest Rates

16-Mar-10
USD 3M LIBOR This marker indicates the current chart. 0.2600% 0.0020% 0.77% 13-Mar-09 1.3160% 3-Feb-10 0.2490%
 
Indices

16-Mar-10
France CAC 40 This marker indicates the current chart. 3,920.60 29.69 0.76% 8-Jan-10 4,045.14 13-Mar-09 2,705.63
Germany DAX This marker indicates the current chart. 5,939.59 36.03 0.61% 4-Jan-10 6,048.30 13-Mar-09 3,953.60
NASDAQ This marker indicates the current chart. 2,362.21 0.00 0.00% 11-Mar-10 2,368.46 16-Mar-09 1,404.02
 

source: DTN Market Access

part 1...through foreign investment inflows. Other data released today saw the March Empire State manufacturing index decline to +22.86 from the previous reading of +24.91. Dealers await the March NAHB housing market index later in the day and details about new financial services regulation legislation making its way through Congress. In eurozone news, EMU-16 Q4 unemployment was off 0.2% q/q and 2.0% y/y. Eurozone CPI data will be released tomorrow along with German ZEW data. Traders remain fixated on Greece, especially as French finance minister Lagarde and other eurozone officials have intimated Greece may be able to resolve its massive fiscal deficit without external financial assistance. European Union officials are said to have a “contingency” plan in place that they can implement “with the push of a button.” Euro bids are cited around the US$ 1.3335 level.

SUPPORT   RESISTANCE

 
L1.       1.3480 1.3965             
L2.       1.3245 1.4200 
L3.       1.3085 1.4495

top

Receive this report via email for free

GCI Financial Ltd is a leading provider of professionally- managed foreign exchange investment services and offers a comprehensive online foreign exchange trading/ dealing platform for individual and institutional clients. www.gcitrading.com.

© 2002 theFinancials.com & GCI Financial Ltd
All rights reserved.  Republication or redistribution of this content is expressly prohibited without the prior written consent of theFinancials.com & GCI Financial Ltd

DISCLAIMER: Commentary and market information is provided for informational purposes only.  The information contained in this report is gathered from reputable sources and is not intended to be used as investment advice.  theFinancials.com assumes no responsibility or liability from gains or losses incurred by the information herein contained.