Euro Commentary for 13-Nov-09

 

Euro Commentary provided by GCI Financial, Ltd.:
Tables & Charts

The euro depreciated sharply vis-ŕ-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4950 level and was capped around the $1.5050 level. U.S. Treasury Secretary Geithner today in Singapore said “(The U.S.) is likely to have to borrow substantially less than we initially anticipated to help repar the damage to our financial system.” Geithner yesterday verbally intervened to support the U.S. dollar and his comments make it clear the U.S. is trying to be accountable to large holders of U.S. dollars and U.S. debt. Data released in the U.S. today saw weekly initial jobless claims print at 502,000, down from a revised 514,000, while continuing jobless claims moved lower to 5.631 million. Philadelphia Fed President Plosser said the direction of U.S. interest rates will be “contingent on the path of the...continued 

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

Instrument

Current

 Points % Date Value Date Value
Exchange Rates

13-Nov-09
EUR/AUD This marker indicates the current chart. 1.6038 -0.0015 -0.09% 18-Dec-08 2.0736 13-Nov-09 1.6038
EUR/CAD This marker indicates the current chart. 1.5687 -0.0002 -0.02% 18-Dec-08 1.7189 30-Jul-09 1.5268
EUR/CHF This marker indicates the current chart. 1.5095 -0.0006 -0.04% 15-Dec-08 1.5856 5-Mar-09 1.4628
EUR/JPY This marker indicates the current chart. 133.6311 -0.5138 -0.38% 7-Aug-09 138.3835 22-Jan-09 114.9064
EUR/USD This marker indicates the current chart. 1.4874 0.0016 0.11% 22-Oct-09 1.5023 3-Mar-09 1.2484
EUR/USD Fwd-1 Yr This marker indicates the current chart. -36.3000 0.0000 0.00% 10-Mar-09 45.2000 9-Jan-09 -110.0000
GBP/EUR This marker indicates the current chart. 1.1217 0.0051 0.46% 28-Nov-08 1.1965 30-Dec-08 1.0250
 
Interest Rates

13-Nov-09
USD 3M LIBOR This marker indicates the current chart. 0.2700% -0.0020% -0.74% 17-Nov-08 2.2390% 13-Nov-09 0.2700%
 
Indices

13-Nov-09
France CAC 40 This marker indicates the current chart. 3,793.92 -14.15 -0.37% 19-Oct-09 3,892.36 9-Mar-09 2,519.29
Germany DAX This marker indicates the current chart. 5,672.74 8.78 0.15% 14-Oct-09 5,854.14 6-Mar-09 3,666.41
NASDAQ This marker indicates the current chart. 2,149.02 -17.88 -0.83% 19-Oct-09 2,176.32 9-Mar-09 1,268.64
 

source: DTN Market Access

part 1...economy and of inflation.” In eurozone news, the European Central Bank’s November bulletin indicated the eurozone economy is likely to be stronger than previously anticipated with inflation remaining well below their 2% ceiling target through 2011. The ECB is clearly in no hurry to raise interest rates and will likely keep them unchanged through at least the first quarter of 2010. Nonetheless, ECB President Trichet reported some of the central bank’s long-term financing auctions will end next month. Data released in the eurozone today saw September EMU-16 industrial production climb 0.3% and was off 12.9% y/y. Euro bids are cited around the US$ 1.4445 level.

SUPPORT   RESISTANCE

 
L1.       1.4470 1.4915             
L2.       1.4355 1.5140 
L3.       1.4175 1.5360

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