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Forex Weekly Reports (ActionForex.com)
Weekly review and outlook on the forex market available in ActionForex.com
10/10/2008
Dollar Strength Over Extended Shaky Safe Haven Status
Despite the approval of a massive $700 billion bailout plan and coordinated global rate cut, panic continues to dominate market sentiment. For the US dollar, the influence of this undesirable state will determine whether the currency can sustain its aggressive rally or a dramatic retracement brings it back to Earth....
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Forex Weekly Reports (ActionForex.com)
Weekly review and outlook on the forex market available in ActionForex.com
10/10/2008
Weekly Economic and Financial Commentary
Key economic signals of jobless claims, employment declines and a sharp dip in the Institute for Supply Management index have corroborated our model-based forecast for recession. The downturn that began last quarter (we expect a negative GDP report on October 30) will be followed by further declines in the third...
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Forex Weekly Reports (ActionForex.com)
Weekly review and outlook on the forex market available in ActionForex.com
10/10/2008
This Week's Market Outlook
In last week's report, I held out the prospect that the US government rescue package might result in a change in sentiment in financial markets and signal the start of the healing process. I also noted "The major risk to this outlook is that I am premature and there is...
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Forex Weekly Reports (ActionForex.com)
Weekly review and outlook on the forex market available in ActionForex.com
10/10/2008
Market Week Wrap-up
Another week of crisis. A week that evoked gallows humor: "Apocalypse Dow" said one quipster. The credit freeze hardened all week long, with overnight dollar libor fixings rising to a weekly high of 5.38% on Wednesday, not far from the 6.88% level reached seven days prior, while three-month dollar libor...
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Forex Weekly Reports (ActionForex.com)
Weekly review and outlook on the forex market available in ActionForex.com
10/10/2008
Weekly Focus: Defensive Currencies are Your Best Friend
The news flow in the past week has been so intense that it can be hard to keep up with all the drastic actions prompted by the escalation of the financial crisis. To our mind, it is worth highlighting the following four developments: 1) Late on Friday the US House...
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Forex Weekly Reports (ActionForex.com)
Weekly review and outlook on the forex market available in ActionForex.com
10/10/2008
The Weekly Bottom Line
Global financial markets this week gave a stunning performance as King Lear: standing naked, gripped with madness, screaming in rage into the storm but to no avail. Betrayed by evil daughters Fear and Panic, and failing to listen in the past to the calming voice of good daughter Rationality, equity...
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Forex Weekly Reports (ActionForex.com)
Weekly review and outlook on the forex market available in ActionForex.com
10/10/2008
Week Ahead in U.S. Financial Markets
The week of October 13-17 will see perhaps the most important week of macroeconomic data and Fed talk of the year. The weekend of Oct 10-12 will see the G-7 meeting in Washington where finance ministers will attempt to formulate a common policy to stem the damage to global financial...
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Forex Weekly Reports (ActionForex.com)
Weekly review and outlook on the forex market available in ActionForex.com
10/10/2008
Forex Markets In the Grip of the Credit Crisis
As the credit crisis has taken a stronger grip in the euro area - the government rescue packages for Fortis, Dexia and Hypo Real Estate indicate this - the euro has come under massive pressure. In the first week of October, EUR-USD fell by about 7% and has been moving...
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Forex Weekly Reports (ActionForex.com)
Weekly review and outlook on the forex market available in ActionForex.com
10/10/2008
Weekly Foreign Exchange Insights
No end to extremely strained credit market conditions appears in sight. Officials are individually and collectively working feverishly to inspire confidence, but two litmus tests, credit market premiums and share prices, signal an escalating crisis. Risk aversion has buoyed the yen and dollar and depressed sterling and commodity-sensitive currencies. When...
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Forex Weekly Reports (ActionForex.com)
Weekly review and outlook on the forex market available in ActionForex.com
10/10/2008
Weekly Market Commentary
Where to start? One of the most hectic, scary, dramatic weeks in financial markets post WWII where its global nature meant that nothing and nowhere was immune. In order to calm things down Brazil, Iceland, Indonesia and Russia temporarily closed their stock exchanges -only to find fixed income markets trashed...
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Forex Weekly Reports (ActionForex.com)
Weekly review and outlook on the forex market available in ActionForex.com
10/09/2008
Volatility Less Of A Threat For A US Dollar / Swiss Franc (USDCHF) Range Trade
Range trading is a dangerous strategy with the currency market as volatile as it has been recently. As such, our USDCHF setup should come with specific conditions. First, we have laid out a strategy that has a tight stop, strong entry and reasonable targets. Furthermore, it is important to realize...
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Forex Weekly Reports (ActionForex.com)
Weekly review and outlook on the forex market available in ActionForex.com
10/08/2008
Pound Weakness Propels Canadian Dollar Into Range
The dire state of the British economy may rest in the hands of the Bank of England. With their sluggish economy nearing recession-like numbers, the bank may be required to continue its rate cutting campaign. Canada on the other hand has seen its growth numbers bulldoze through economist forecasts. Wednesday's...
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Forex Weekly Reports (ActionForex.com)
Weekly review and outlook on the forex market available in ActionForex.com
10/08/2008
Fed Expected To Ease Further Despite Global Rate Cut
With three weeks to go until its next scheduled policy meeting, the Federal Reserve - in a coordinated effort with other central banks around the globe - cut its benchmark lending rate today by 50 basis points. This unprecedented globe-spanning rate cut represents yet another step in the lengths policy...
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Forex Weekly Reports (ActionForex.com)
Weekly review and outlook on the forex market available in ActionForex.com
10/06/2008
This Week's Data and Events
The demand for funding out of Europe and ongoing liquidation of yen crosses pushed the dollar sharply higher versus the European currencies last week. While profit taking should be seen this week, the outlook for the currency remains strong. The risk to it is the equity markets, which have fallen...
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Forex Weekly Reports (ActionForex.com)
Weekly review and outlook on the forex market available in ActionForex.com
10/06/2008
For How Long, Fed and ECB Will Hold Rates Steady?
The U.S. Congress has finally approved the economic recovery plan, but more time is needed to have the economy moving again in the United States. In effect, consumes are fading, while the number of unemployed is increasing. In Europe, at the same time, the financial crisis is just worsening, as...
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Forex Weekly Reports (ActionForex.com)
Weekly review and outlook on the forex market available in ActionForex.com
10/05/2008
US Economic Indicators Preview
The FOMC minutes might show an intense discussion on the consequences of the financial market turmoil and the potential collapse of major financial institutions. Although the risk assessment in the last FOMC statement was balanced, more emphasis was put on the economic risks. And despite indicating that the inflation outlook...
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Forex Weekly Reports (ActionForex.com)
Weekly review and outlook on the forex market available in ActionForex.com
10/05/2008
EMU Economic Indicators Preview
The German trade balance might have rebounded somewhat in August, after it had declined unexpected heavily in July. However, the German current account is likely to have continued deteriorating in August. French industrial production is expected to have suffered a setback in August, because all correlated indicators deteriorated. Italian industrial...
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Forex Weekly Reports (ActionForex.com)
Weekly review and outlook on the forex market available in ActionForex.com
10/05/2008
Weekly Technical Commentary
We have completely underestimated the need for US banks and funds to repatriate all forms of non-dollar holdings to shore up creaking edifices at home. Adding to the woe is the realisation of Eurozone citizens that their financial institutions are not immune to the global meltdown. One wonders where they...
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Forex Weekly Reports (ActionForex.com)
Weekly review and outlook on the forex market available in ActionForex.com
10/05/2008
Weekly Forex Signals: GBP/USD
The U.K. currency declined to 1.7587 and we can see the drop of 4 percent. Technically the market trend is still clear downtrend as we can see strong supply in the market, based on technical indicators like RSI, which is in a bearish direction, MACD crosses the signal line and...
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Forex Weekly Reports (ActionForex.com)
Weekly review and outlook on the forex market available in ActionForex.com
10/05/2008
Economics Weekly: Bank of England Faces Tough Decision
The Bank of England Monetary Policy Committee (MPC) arguably faces its toughest test this week, facing rising pressure to lower interest rates at a time when inflation, its official remit, is at decade highs and still to peak. We expect a close decision but for the MPC to ultimately decide...
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