Foreign Exchange Daily Updates - Archive

Below are the foreign exchange market updates (April 09, 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:

Markets start to refocus on economies.

Market Update: Wednesday, April 9, 2003

The markets seem to be treading water here waiting for more news from Iraq, despite the jubilation in some areas. News on the fate of Saddam Hussein the administration and how long it will take to secure total control are now the issues.

In the mean time the European markets started focusing on the US stock market's inability to hold onto its recent gains and have started observing that a post war pick up is less likely than had been thought. The reality of recent index moves is more likely to be wariness in front of the earnings. With the first quarter earnings season for the world's stock markets starting the markets focus is turning back to economic fundamentals. The US Dollar is looking a little soft today after pulling back from its worst levels overnight as it did yesterday.

The European, British and Japanese economies are in no better state than the US, but the market focus is on the US as the rest of the world looks for the US economy to be the driving force to take the world out of its recessive stance.

The US Dollar will continue to track stocks and the markets will be watching closely, not so much the earnings, but the forecasts from the companies as they publish their earnings.

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 1.0680 - 1.0780
USD/CAD 1.4610 - 1.4800
GBP/USD 1.5460 - 1.5590
USD/CHF 1.3800 - 1.3980
USD/JPY 119.20 - 120.80
USD/MXN 10.60 - 10.90