Mon, 06th of October, 2008 By Setyo Wibowo (analyst@fxinstructor.com) EURUSD Outlook The EURUSD didn’t make a significant movement on Friday. Worse than expected US NFP data help the pair corrected to the upside, topped at 1.3908 but further bullish correction was rejected as the pair closed lower at 1.3772 . This fact keep the current bearish scenario intact.
Non-Farm Payrolls data disappointed and the markets are pricing in dramatic interest rate cuts, so why is the US dollar pushing higher? The answer, it seems, lies in broad-based global demand for long-term US government debt.
The market seems convinced that the Federal Reserve will cut interest rates at their next meeting on October 29th. The question, it seems, is by how much
Germany on Sunday guaranteed all private bank accounts and negotiated a 50 billion euro bailout deal for Hypo Real Estate AG as Europe’s second largest economy sought to ward off financial crisis.
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Euro Gaps Down At Weekly Trading Open (Daily FX)
First of all, I apologize for not posting as much recently. A lot of this really was indeed market related, as I just didn’t see a whole lot new that was worth writing about
- positive feature on insurer MetLife (MET).
