Foreign Exchange Daily Updates - Archive

Below are the foreign exchange market updates (April 08 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 exchange rate

Foreign Exchange Market Update:

The markets wait on news Iraq

Market Update: Tuesday, April 8, 2003

The markets seem to be treading water here waiting for more news from Iraq. In the mean time the European markets started focusing on the US stock markets inability to hold onto its gains yesterday and have started observing that a post war pick up is less likely than they had been thinking. On this mindset the US Dollar was sold off last night but has pulled back to better levels than yesterdays close as the US stock market opens this morning.

The Dow will determine the Dollars direction for the rest of the day as both will react from every news bite out of Iraq.

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, some currencies lost as much as 1 ½% overnight, please call your foreign exchange market advisor for the latest analysis.

Currency ranges for today:

EUR/USD 1.0580 - 1.0720
USD/CAD 1.4650 - 1.4820
GBP/USD 1.5460 - 1.5590
USD/CHF 1.3850 - 1.3980
USD/JPY 119.20 - 120.80
USD/MXN 10.60 - 10.90