Monday, June 28, 2010
Monday, June 28, 2010 | 
Avtor
makemoneyonline |
:: Australian Dollar: A boost to confidence on global markets helped the Aussie dollar higher on Friday night rallying from 0.8620 to post an eventual high at 0.8750. With the balance of U.S economic data coming in higher than forecast investors appeared comfortable heading into the weekends G20 meeting long AUD with the prospects of bullish comments likely. Headlines over the weekend however focused on European debt so the Aussie dollar opens relatively unchanged at 0.8740 this morning. Looking ahead this week is once again light on market moving economic data with the main attraction being Thursdays May Retail Sales.
- We expect a range today in the AUD/USD rate of 0.8685 to 0.8775
:: Great Britain Pound: Following an early London morning dip to 1.4850 the Pound Sterling staged a steady climb eventually peaking at 1.5075 in late U.S exchange. The Greenback weakened across the board following disappointing economic growth figures out of North America as investors eyed the upcoming G20 meeting for further guidance. This morning sees the Pound open relatively unchanged at 1.5055 and 1.7220 against the U.S and Australian dollars respectively.
- We expect a range today in the GBP/AUD rate of 1.7175 to 1.7275
:: New Zealand Dollar: The Kiwi experienced a V shape recovery against the Greenback on Friday bouncing back from a dip below 70 cents to finish the week on its highs near 0.7150. During Friday’s offshore trade U.S economic data saw GDP disappoint the market however there was some optimism following a slight upward revision in the University of Michigan sentiment survey and with comments expected around the Yuan appreciation from the G20 the NZD/USD finished the week on a bullish note.
- We expect a range today in the NZD/USD rate of 0.7085 to 0.7175
:: Majors: The Euro recovered from an early London sell off bouncing back from 1.2255 to finish the week on its highs near 1.2400. U.S economic data was mixed as headline GDP came in weaker than expected rising an annualised 2.7%, down from 3% the previous quarter whilst core PCE rose 0.7% up from 0.6%. June forecasts from the University of Michigan consumer sentiment survey were revised up from 75.5 to 76 and on the whole the market was relatively bullish on growth prospects heading into the weekends G20 meetings in Toronto Canada. Over the weekend the statement released by the group focused on specific deficit targets with advanced economies focused on halving deficits by 2013 and stable debt to GDP ratios by 2016. Despite officials’ attempts to talk up the announcements as a success concern remains as to how realistic such targets are and the impact on economic growth. In early Monday morning exchange EUR/USD opens slightly down from Friday’s close, changing hands at 1.2370 whilst USD/JPY trades on its lows at 89.25.
:: Data Releases:
AUD: No Data Expected Today
NZD: Jun NBNZ Business Confidence
USD: May PCE & Fedspeak
GBP: No Data Expected Today
EUR: Jun Prelim German CPI
JPY: May Retail Trade
- We expect a range today in the AUD/USD rate of 0.8685 to 0.8775
:: Great Britain Pound: Following an early London morning dip to 1.4850 the Pound Sterling staged a steady climb eventually peaking at 1.5075 in late U.S exchange. The Greenback weakened across the board following disappointing economic growth figures out of North America as investors eyed the upcoming G20 meeting for further guidance. This morning sees the Pound open relatively unchanged at 1.5055 and 1.7220 against the U.S and Australian dollars respectively.
- We expect a range today in the GBP/AUD rate of 1.7175 to 1.7275
:: New Zealand Dollar: The Kiwi experienced a V shape recovery against the Greenback on Friday bouncing back from a dip below 70 cents to finish the week on its highs near 0.7150. During Friday’s offshore trade U.S economic data saw GDP disappoint the market however there was some optimism following a slight upward revision in the University of Michigan sentiment survey and with comments expected around the Yuan appreciation from the G20 the NZD/USD finished the week on a bullish note.
- We expect a range today in the NZD/USD rate of 0.7085 to 0.7175
:: Majors: The Euro recovered from an early London sell off bouncing back from 1.2255 to finish the week on its highs near 1.2400. U.S economic data was mixed as headline GDP came in weaker than expected rising an annualised 2.7%, down from 3% the previous quarter whilst core PCE rose 0.7% up from 0.6%. June forecasts from the University of Michigan consumer sentiment survey were revised up from 75.5 to 76 and on the whole the market was relatively bullish on growth prospects heading into the weekends G20 meetings in Toronto Canada. Over the weekend the statement released by the group focused on specific deficit targets with advanced economies focused on halving deficits by 2013 and stable debt to GDP ratios by 2016. Despite officials’ attempts to talk up the announcements as a success concern remains as to how realistic such targets are and the impact on economic growth. In early Monday morning exchange EUR/USD opens slightly down from Friday’s close, changing hands at 1.2370 whilst USD/JPY trades on its lows at 89.25.
:: Data Releases:
AUD: No Data Expected Today
NZD: Jun NBNZ Business Confidence
USD: May PCE & Fedspeak
GBP: No Data Expected Today
EUR: Jun Prelim German CPI
JPY: May Retail Trade
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