The current market sentiment

By FX RecommendsApr 08, 2008 08:00PM ET

www.investing.com/analysis/an%C3%A1lise-bovespa-08-outubro:-jbss3,-pomo4,-elpl4,-gfsa3,-tcsa3,-cmig4.-6006

The current market sentiment

By FX Recommends | Apr 08, 2008 08:00PM ET

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The currency market is still stagnant waiting for tomorrow's ECB and MPC meetings. The ECB is expected to leave the interest rate unchanged while the BOE is expected to cut interest rate by .25%. Yesterday decline of Mar Halifax m/m housing prices decline by 2.5% and UK completed mortgages declined to 49.200 by 3.5% in February. The housing figures show that the UK housing market is struggling behind the US housing market and crediting problems triggered by the sub prime mortgages bad loans. UK manufacturing increased 0.4% m/m and 1.9% yearly. Industrial production came also higher than expected by .3% and the market was expected a growing by just .2% monthly but the yearly figure came just as the market expectation of 1.3%. The data were not significant enough to move the British pound.
Even yesterday's release of the fed's minutes of its recent meeting when it lowered the interest rate by .75% versus market expectation of a higher a mount of cut did not change the market. They have mentioned that there is to be a contracting in the first half of this year and Ben Bernenke has mentioned this in his testimony last week. Surely Fisher the Fed member of Dallas and Plosser the Fed member of Philadelphia have shown their inflation concerns and how this massive cut can trigger inflation upside risks specially as the high oil and commodities prices.
The IMF downgraded the global growth. It expected the growth of US this year to be just .5% by the upcoming G7 meeting next Friday which is expected to discuss the current market turmoil and financial and crediting problems. Also it is expected to have an EU criticism of its appreciation as what's reported to be repeated that volatility in the forex market is undesirable and not good for stable growth and the Chinese Yuan is under valued and should reflect fundamentals and the Japanese yen fundamentals are better than what's pricing in the currency markets. The market is directionless currently by these events.
We wait today for Bernenke speech on Financial Literacy in Washington.

Best wishes

FX-Recommends
FX Consultant
Walid Salah El Din
Mob: +20 12 465 9143
E-Mail: mail@fx-recommends.com

Daily Technical Strategy By Lloyds TSB Corporate Markets - Jan 05, 2009

EUR/USD:Broader themes may have to take a back seat for a couple of weeks, but the bias remains broadly dollar negative. Re-try a small buy against 1.3430 support, stop 1.3380,...

Technical oscillators supporting the~bullish trend for the USD/CHF... By Finotec - Jan 05, 2009

USD/CHF – Market strategy is bullish, buying from the 1.1180~levelUSD/CHF-market strategy can be a buy from the level 1.1180Technical oscillators supporting the bullish trend...

January 06 analysis By Investija - Jan 05, 2009

In this PDF you will find the latest technical analysis published by Forex Trends

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Central Banks

Interest Rates

Next Meeting

FED

4.50%

Mar 19, 2025

ECB

2.90%

Mar 06, 2025

BOE

4.50%

Mar 20, 2025

SNB

0.50%

Mar 20, 2025

RBA

4.10%

Apr 01, 2025

BOC

3.00%

Mar 12, 2025

RBNZ

3.75%

Apr 09, 2025

BOJ

0.50%

Mar 19, 2025

CBR

21.00%

Mar 21, 2025

RBI

6.25%

Mar 10, 2025

PBOC

3.10%

BCB

13.25%

Mar 19, 2025

US 30	43,594.5	+160.2	+0.37%
US 500	5,998.0	+41.8	+0.70%
Dow Jones	43,433.12	-188.04	-0.43%
S&P 500	5,956.06	+0.81	+0.01%
Nasdaq	19,075.26	+48.88	+0.26%
S&P 500 VIX	17.84	-1.26	-6.60%
Dollar Index	106.540	+0.211	+0.20%

Crude Oil WTI	69.43	+0.81	+1.18%
Brent Oil	72.91	+0.84	+1.17%
Natural Gas	3.957	-0.002	-0.05%
Gold	2,900.55	-30.05	-1.03%
Silver	32.165	-0.107	-0.33%
Copper	4.6160	+0.0295	+0.64%
US Soybeans	1,028.88	+3.88	+0.38%

U.S. 10Y	4.300	+0.051	+1.20%
U.S. 30Y	4.554	+0.047	+1.04%
U.S. 5Y	4.126	+0.049	+1.20%
U.S. 3M	4.306	+0.005	+0.12%
US 10Y T-Note	110.52	-0.33	-0.30%
Euro Bund	132.57	-0.37	-0.27%
10-2 Yield Spread	17.88	-1.73	-8.82%

Apple	240.36	-6.68	-2.70%
Alphabet A	172.73	-2.69	-1.53%
Tesla	290.80	-12.00	-3.96%
Amazon.com	214.35	+1.55	+0.73%
Netflix	990.06	+12.82	+1.31%
Meta Platforms	673.70	+16.20	+2.46%
Bank of America	43.94	0.00	0.00%

The current market sentiment

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