Hi

11-June-U.S. Dollar Trading (USD) rebounded broadly against a basket of majors as US treasury yields widened their advantage over other major government bonds amid reduced expectations for interest rate cuts by the Federal Reserve. Futures markets are now anticipating rates to remain unchanged for 2007 and much of 2008.
Added to this a sell off in global stocks and bonds, saw liquidation support the dollar. In data specific news, the greenback was also supported by a better than expected Trade Balance figure which indicated that the deficit had indeed narrowed to -58.5 bln than previous -62.39 bln (revised higher). The USD climbed to a two-month high against the Euro, up 0.5%. In U.S. share markets the NASDAQ rose by 32.16 points (+1.27%) whilst the Dow Jones also rose by 157.66 points (+1.19%). Crude oil was sold off to end Friday, dropping by US$2.16 a barrel to US$64.77.

Hi

22 June-U.S. Dollar Trading (USD) was mixed across the board as an unexpectedly large gain in Philadelphia area factory output in June provided a momentary boost to the dollar, which has closely tracked bond yields in recent weeks, but the greenback eased as U.S. Treasury yields failed to hold gains. The dollar did end the session relatively unchanged as it surrendered its gains following the highest reading of growth on a regional U.S. economic indicator since April 2005. In U.S. share markets the NASDAQ was up 17 points (+0.65%) whilst the Dow Jones was also up by 56.42 points (+0.42%). Crude oil fell by US$0.26 a barrel to $68.60.

Hi
25 June-U.S. Dollar Trading (USD) was mixed against a basket of currencies as little data was released from U.S. markets to end the week. Despite positive data seen in the previous session, the USD eased against the Euro as investors remained confident that the Federal Reserve will keep rates unchanged at 5.25% for the remainder of the year. Analysts continued with bias towards currencies with the highest probability of a rate hike. In U.S. Share markets the NASDAQ was down by 28 points (-1.07%) whilst the Dow Jones was also down by 185.58 points (-1.37%). Crude oil gained by US$0.43 a barrel to US$69.08. Looking ahead, key data in the form of Existing Home Sales will be sure to generate plenty of interest as further focus will surround the housing sector. Forecasts are at 5.945 mio for the month of May, slightly down from the previous 5.99 mio.