debt buyers association 2010
Market Outlook 22/09/2010 Acetrader days
Market Review – 09/21/2010 23:00 GMT
Of U.S. dollar decline in general in the Fed offers comfortable
The dollar fell against other major currencies Tuesday, the U.S. statement said the U.S. FOMC meeting Federal Reserve ready to ease monetary policy if needed to stimulate the U.S. economy.
The dollar fell to 85.77 in Asia on speculation that Japan could be attributed to manipulation of the Japanese yen and fell to 85.26 by midday in Europe. Later, despite the rebound in the dollar at 85.66 Rumors of good deals for a buyer in Scandinavia, the dollar fell again from there and extended its weakness to 84.97 pm, NY after the publication of the declaration of the meeting of the U.S. Fed FOMC.
The Fed statement said the policy was passed 8-1 with Mr. Thomas Hoening dissidents. The Federal Reserve said it was preparing to make additional adjustments if necessary to support economic recovery. The Fed has kept rates unusually low in the range of 0 to 0.25 percent for a period of time.
In other news, President of the Japanese Bankers Association, Masayuki Oku, said the new rules of Basel III requiring banks to 7% share in the premium are "Hard", although Japan's banks is not necessary now to strengthen its capital.
The single currency rose to 1.3057 in part due to cross the shopping Asia Euro (euro / Swiss franc rallied from 1.3116 to 1.3244). European 1.3149 and rose to the morning in anticipation of the demand for good bond auctions in Ireland. Euros and retired from there on profit taking despite strong demand in the auction of the debt of Ireland and fell to 1.3108 after the release of U.S. housing starts higher than expected figure. Later, however briefly fell to 1.3109 after the rate decision of the Federal Reserve, the pair recovered strongly general weakness of the dollar rallied to a 6 weeks of 1.3288 in the NY afternoon.
Ireland sold $ 1,500,000,000 of government bonds, indicating strong investor support. Greece also has sold € 390 000 000 Treasury 3-month, while Spain sold 7 million euros in 12 months and 18 months of bills, the high-end target had been established.
U.S. housing starts increased 10.2% to 0.569M in August, much stronger than reading revised down from an increase of 0.4% in July.
Previously, the ECB, Nout Wellink, a member of the Council stated to reconsider their plans to leave if they fear of negative repercussions, he saw no immediate threat of inflation in the euro area, the mere threat of inflation from the prices of commodities. "
Although the book ratchet higher law to 1.5588 in Asia short covering after settlement Monday from 1.5686 to 1.5536, the cable fell briefly but forcefully to 1.5503 in morning European cross-selling of the pound sterling against the euro (EUR / GBP 0.8390 to 0.8493/94 full) before organizing a rally 1.5570 morning in NY. Later, the British pound rallied from 1.5531 to the general weakness of the U.S. dollar after the Fed decision on rates and rose at an intraday high of 1.5645 late in New York.
Data on the forehead, net loans UK public sector has reached a record 15.3 million pounds in August, well above the expected 12.51 billion due to interest payments on strong bristles.
The economic data released on Wednesday are:
New Zealand current account, Australia Westpac leading economic, Japan All industry index, a few minutes of the meeting of the United BOE Kingdom, the commands in the EU industry, consumer confidence, Canada's leading indicators, retail sales, ex. Autos, U.S. home price index.
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