Foreign
Exchange Daily Updates - Archive
Below
is the foreign
exchange market update (Jan 21/03).
Note:
The weekly foreign exchange updates give
you a foreign exchange expert trader's view
of the volatile foreign
exchange markets. It is a valuable source
of information with respect to the factors
that affect foreign exchange rates at the
macro level. It is a great source of insight
into the complexities of foreign
exchange rates and issues.
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
US
dollar continues to Follow Stocks
The
market focus remains the same. With 37,000
US and 30,000 British troops going to the
Gulf being negative for the Pound and the
US Dollar and comments inferring
amnesty for the Iraqi leadership being slightly
positive. The markets will react accordingly
to more of the same as we approach the January
27th. report to the U.N.
The
US Dollar continues to follow stocks. The
Canadian and Australian Dollars continue
to hold their gains as commodity based currencies
and the Swiss Franc is still viewed the
non precious metal hedge against war.
Gold
continues to make new highs.
The Mexican Peso Remains under pressure
as it is linked to the US Dollar
situation.
We
have another week of earnings reports from
the 4Q. The attraction of European bonds
has not changed and even good news seems
to do nothing to support the US Dollar.
There have still been very little negative
implications for the Euro on the news that
the German debt levels are above those allowed
by the EU and that Germany could be fined
as much as 8 to10 Billion Euros. France
is also outside the permitted range. It
appears negatives like this will not focused
on until the Iraqi situation is less important.
Currency ranges for this week:
EUR/USD
1.0520 - 1.0750
USD/CAD 1.5280 - 1.5550
GBP/USD 1.5950 - 1.6200
USD/CHF 1.3600 - 1.3780
USD/YEN 117.80 - 121.60
USD/MXN 10.40 - 10.70
In
these volatile foreign exchange market
conditions please call your currency advisor
for the latest updates.
...end
Weekly Foreign Exchange Report ....Posted
Jan 21/03
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