Foreign Exchange Daily Updates -
Archive
Below
is the foreign
exchange market updates (April
04, 2003).
Note:
The weekly foreign exchange updates give
you a foreign exchange expert trader's view
of the volatile foreign exchange
markets. It is a great source of insight
into the complexities of foreign exchange
rates and issues. It is a valuable source
of information with respect to the factors
that affect foreign exchange rates at the
macro level.
Visit
www.Cambridgefx.com daily and stay up to
date on factors that affect foreign exchange
rates. Follow these links to see the latest
key currencies, US exchange rate and Canadian dollar rate
Foreign
Exchange Market Update:
The US Dollar Strengthens
The
US Dollar strengthens as Iraqi news outweighs
jobs data.
Market
Update: Friday, April 4, 2003
The
US Dollar again strengthened overnight,
with the news that coalition forces are
in control of Baghdad airport. The unemployment
data from the US was stable at 5.8 % but
the more important Non Farm Payroll fell
to -108,000, worse than expected -40,000.
Last months was revised down an extra 49,000.
Under normal circumstances this would have
caused the US$ to weaken but the markets
for now seem blind to economic data and
focus on the war news.
We
will have to see how the stock market reacts
to both sets of news as the day progresses.
The Dow will determine the Dollars direction
for the rest of the day.
With
this being the last day that Europe is an
extra hour in front of North America they
are squaring their positions, covering their
short Dollar positions and may actually
be holding Dollars gambling on continued
good news from Iraq over the weekend.
The
war and its perceived success compared to
expectations should remain the principal
market driver followed by the geopolitics
associated with the war and economics will
take a back seat.
With
daily foreign currency volatility continuing
to be higher than usual, please call your
foreign exchange market advisor for the
latest analysis.
Currency
ranges for today:
EUR/USD
1.0650 - 1.0780
USD/CAD 1.4680 - 1.4820
GBP/USD 1.5580 - 1.5720
USD/CHF 1.3780 - 1.3920
USD/JPY 119.20 - 120.80
USD/MXN 10.50 - 10.80
Foreign Exchange Report .... April 04/03
Next foreign
exchange update | 
