Thread: Daily market update

During this year Asian currencies were increasing against The US dollar because the actual economic situation supported purchasing of risky assets. Now Asian officials are going to step in to control their strong currencies.
The unemployment data supported the Gold as a “safe haven”.
The USD went down against the Euro and Yen due to employment figures.
European retail sales increased in July stimulating the economic growth

Better US job numbers
create new optimism

Double dip recession
seems to be avoided

Gold climbs to all
time high USD 1249

EURO strengthens
towards USD: 1,30

YEN continues
strengthening

Bank of Japan decides
to not intervene

EURO weakens on
banking rumours

The Japanese economy shows signs of gradual recovery.

YEN rallies to 15 years high against USD.

Gold breaks new records and reaches USD 1259.

Turbulence continues with falling Asian markets due to the strong YEN.

Today the Federal Reserve will publish its report on current economic conditions (Beige Book).

Week is starting with markets soaring in Asia.

Today the Euro increased according to the positive China’s data. It was good news because as everybody can see the Euro is following the down trend against the USD during the whole year.

Oil prices increase on weaker USD and strengthening Euro.

Gold declines from peak to USD 1246.

The Chinese Yuan exchange rate against the USD has reached the maximum level of modern times.

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The Japanese currency hits again a new high against the dollar. Today has been registered the lowest USD level (83.05) against the Yen since 1995.

The US retail sales figures in August increased: July’s indicator was equal to 0.3% and now it reached 0.4%.

At the beginning of the European session EUR/GBP fell around 50 pips and the positive US retail sales data held the pair on its lows.

Today during the European session the crude oil contracts traded above 77 USD.

The USD went up to 85 YEN after receiving the news about the Japanese government intervention. The sum of this intervention isn’t established and investors expect amounts of 200-300 billion Yen.

The Oil prices decreased in the morning because of the strengthened dollar.

The Gold quotes below the fresh high level which has been reached on Tuesday.

Today the employment data were published in UK; these figures indicated the fact that jobless claims increased in August in spite of expectations.

The YEN recovers after the Central Bank intervention. Today the Bank of Japan continues to weaken the yen by adding 1 trillion yen more to the market.
After the government’s intervention stock markets in Asia went down because all investors were waiting for the next intervention.

The gold reaches all time high and today its area is USD 1272

The USD regains losses against EURO/GBP.

EUR/USD has hit the next high level and confirmed its uptrend again.

The oil prices are moving gradually in the direction of the level $75.

The US stocks dropped today because of the weak employment figures which confirm that US job market is not in a good condition. The number of claims for unemployment benefits increased.

Today the Oil prices are lower than yesterday. And this decrease depends on the weak euro which fell after the data of purchasing managers indexes have been released.

Regardless of negative unemployment figures in US, the GBP/USD is still under 1.5700.

Jean-Claude Trichet mentions that European Central Bank is ready to take all necessary and unconventional measures in order to avoid the double dip recession.