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
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 dollar rate and Canadian dollar rate
Foreign
Exchange Market Update:
US Dollar holds gains as Stocks continue
to rise.
Market
Update: Tuesday, April 29, 2003
The
continued negative news from Europe helped
the US Dollar hold on to yesterday's gains
which came off of the very positive day
for the DOW. With Stock futures again looking
to open slightly positive the main focus
today will be if the Consumer Confidence
data will be as strong as it is expected.
Given the positive outcome in Iraq, expectations
are high on the data compared to last month,
giving the market a second chance to react
to a pick up that was shown in the Univ.
of Michigan survey from last Friday. The
most important data this week will be the
Unemployment numbers on Friday. We also
have a number of Central Bank meetings this
week so Interest Rate expectations should
be clearer by the weeks end.
Overnight
the French 4Q. GDP was revised to -.1%.
Business sentiment fell lower than expected
and Euro zone Retail Sales fell to -.8%.
The Euro continued to weaken against the
Dollar.
In
the UK the retail sales data was the best
in 3 months and help the Pound maintain
the same levels as seen yesterday against
the US Dollar.
The
Mexican Peso continues to strengthen as
the balance of payments in its favor mean
there are more buyers of Pesos for tax payments
etc. than there are buyers of US Dollars.
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
1.0880 - 1.1050
USD/CAD 1.4420 - 1.4620
GBP/USD 1.5850 - 1.5985
USD/CHF 1.3650 - 1.3800
USD/JPY 119.70- 121.00
USD/MXN 10.30 - 10.55
Foreign Exchange Report .... April 29/03
Next foreign
exchange update
|
