Foreign Exchange News Updates - Archive
Below
are the foreign
exchange market updates.
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
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to
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exchange rate
Foreign
Exchange Market Update:
Where
the Dow goes so does the US Dollar
Market
Update: Thursday, April 10, 2003
The
US stock market led the US Dollar again
yesterday, with both markets subject to
some profit taking. A steady deterioration
set in after the statue of Saddam Hussein
was toppled. As the focus turns to the reestablishment
of law there are concerns of how much time,
and money, the US will have to spend on
Iraq and the effect it will have on the
US budget deficit. The fate of Saddam Hussein,
the administration and how long it will
take to secure total control are now the
issues.
There
were no surprises from The Bank of England
which left interest rates unchanged.
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
1st. quarter 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
1.0720 - 1.0820
USD/CAD 1.4610 - 1.4750
GBP/USD 1.5580 - 1.5720
USD/CHF 1.3770 - 1.3850
USD/JPY 119.20 - 120.80
USD/MXN 10.60 - 10.90
Foreign Exchange Report .... April 10/03
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