Euro Commentary for 5-Mar-09

Euro Commentary
Tables & Charts

The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2650 level and was supported around the $1.2455 level. The U.S. Treasury announced that its new mortgage relief plan will help up to 9 million homeowners avoid home foreclosure. Mortgage servicers have been authorized to immediately reduce mortgage payments for eligible borrowers. In other U.S. news, the February non-manufacturing PMI survey fell to 41.6 from 42.9 in January, an acceleration in the downturn in the services industry. Likewise, both the new orders and employment sub-indices moved lower. Additionally, the ADP February U.S. private sector jobs survey revealed a loss of 697,000 private sector jobs last month. Most dealers believe these data indicate this Friday’s non-farm payrolls data for February will be extremely weak with some whispers of job losses around 750,000. In eurozone news, the European Commission released proposals today to strengthen financial supervision across the European Union including an early warning system led by the European Central Bank. Central and Eastern European central bankers and regulators released a joint statement today to address the “often simplified and misleading” information about the risks facing the financial sectors in those countries. Data released in the eurozone saw the February services PMI survey decline to 39.2 from 42.2 in January. ECB member Noyer yesterday report he doesn’t see any risk that any eurozone country will collapse and added the ECB may enact additional unconventional monetary policy. Euro bids are cited around the US$ 1.2385 level.


L1. 1.2465 1.3205

L2. 1.2350 1.3315 L3. 1.2130 1.3595

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



Points % Date Value Date Value
Exchange Rates


EUR/AUD This marker indicates the current chart. 1.9620 -0.0112 -0.57% 18-Dec-08 2.0736 4-Jun-08 1.6121
EUR/CAD This marker indicates the current chart. 1.6091 -0.0079 -0.49% 18-Dec-08 1.7189 6-Oct-08 1.4865
EUR/CHF This marker indicates the current chart. 1.4768 0.0022 0.15% 1-Aug-08 1.6337 27-Oct-08 1.4412
EUR/JPY This marker indicates the current chart. 124.9603 1.9634 1.57% 18-Jul-08 169.5265 22-Jan-09 114.9064
EUR/USD This marker indicates the current chart. 1.2591 0.0107 0.85% 22-Apr-08 1.5987 27-Oct-08 1.2427
EUR/USD Fwd-1 Yr This marker indicates the current chart. 29.0000 0.0000 0.00% 4-Mar-09 29.0000 6-Jun-08 -327.0000
GBP/EUR This marker indicates the current chart. 1.1230 -0.0003 -0.02% 11-Mar-08 1.3104 30-Dec-08 1.0250
Interest Rates


USD 3M LIBOR This marker indicates the current chart. 1.2770% 0.0060% 0.47% 12-Oct-08 4.8200% 14-Jan-09 1.0820%


France CAC 40 This marker indicates the current chart. 2,675.68 121.13 4.53% 19-May-08 5,142.10 3-Mar-09 2,554.55
Germany DAX This marker indicates the current chart. 3,890.94 200.22 5.15% 19-May-08 7,225.94 3-Mar-09 3,690.72
NASDAQ This marker indicates the current chart. 1,353.74 32.73 2.42% 5-Jun-08 2,549.94 20-Nov-08 1,316.12

source: DTN Market Access


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