The British Pound may be in for a volatile session ahead as the release of minutes from this month’s Bank of England monetary policy meeting top the economic calendar in European hours. Currency markets were active in overnight after New Zealand GDP unexpectedly expanded and the Chinese central bank deputy governor sounded off against the US Dollar.Key Overnight Developments• Currency Surges as New Zealand GDP Unexpectedly Grows in Second Quarter• USD Drops After PBOC’s Hu Says Dollar-Reserve System Must ChangeCritical LevelsThe Euro trended higher against the US Dollar in overnight trading, testing as high as 1.4842. The British Pound also advanced, adding as much as 0.4% against the greenback.
Posts Tagged ‘Currency Markets’
British Pound Volatility Threat High as Currency Markets Focus on BOE Minutes (Euro Open)
Posted by admin on September 23rd, 2009
Posted in 
Currency Markets to Trade with Risk Sentiment on Thin Economic Calendar (Euro Open)
Posted by admin on September 22nd, 2009
Currency markets are likely to continue looking to risk sentiment to drive price action with another thin economic calendar on tap in European trading hours. Switzerland’s Trade Balance report and the SECO economic forecast update are set for release.Key Overnight Developments• NZ Current Account Surprises With Surplus in Q2 as Imports Fall• US Dollar Sold in Overnight Trading as Stocks Gain on Asian ExchangesCritical LevelsThe Euro added 0.3% against the US Dollar to retake the 1.47 level in overnight trading. The British Pound followed suit, testing as high as 1.6258.
US Dollar May Gain as Currency Markets Follow Risk Trends in European Hours (Euro Open)
Posted by admin on September 21st, 2009
The US Dollar may rise as stocks retreat and US equity index futures point to a lower open on Wall St with currency markets focused on trends in risk sentiment to drive price action, looking past a virtually empty economic calendar. Key Overnight Developments• NZ Service Sector Expands For Second Month on Inventories; Sales Decline• UK House Prices Fell Least in a Year in September, Says Rightmove• Euro, British Pound Sold Against US Dollar as Most Stocks Fall in AsiaCritical LevelsThe Euro trended lower to start the trading week, testing as low as 1.4678 to the US Dollar in overnight trading.
US Dollar Rises on Safety Demand as Stocks Retreat in Asian Trading (Euro Open)
Posted by admin on September 18th, 2009
The US Dollar gained as stocks sold off in Asian trading on news that Japan’s third-largest consumer lender will suspend debt payments to its creditors, boosting demand for the safety-linked currency. German PPI, Euro Zone Current Account, and UK Public Borrowing figures are on tap ahead.Key Overnight Developments• Japan’s Third-Largest Consumer Lender to Suspend Debt Payments• Hong Kong Monetary Authority Deputy Chief Says Mortgage Rates Too Low• Euro, British Pound Decline as Stock Losses Boost the US DollarCritical LevelsThe Euro lost as much as -0.4% against the US Dollar, testing below the 1.47 level in overnight trading.
British Pound Takes Center Stage as Bank of England Announces Interest Rates (Euro Open)
Posted by admin on September 10th, 2009
The British Pound is in European trading hours as currency markets turn their attention to the interest rate decision from the Bank of England. An actual change in borrowing costs is unlikely, with traders paying keen interest to anything that hints at the future course of the bank’s quantitative easing program.Key Overnight Developments• Japanese Corporate Goods Prices Disappoint, Signal Continued Deflation• Australian Jobs Report Disappoints, Weighs on RBA Rate Hike ExpectationsCritical LevelsThe Euro moved slightly higher in overnight trading, adding 0.1% against the US Dollar. The British Pound followed suit, testing as high as 1.6563 against the greenback.Asia Session HighlightsJapan’s Domestic Corporate Goods Price Index printed flat in August, showing producer prices continued to shrink at a record annualized rate of -8.5%.
Sponsors:
