US Dollar Drops to New Low as Chinese Export Figures Boost Risk Appetite (Euro Open).Summary: The US Dollar set a new yearly low in overnight trading Overnight Trading
The buying or selling of currencies between 9pm and 8am.
The forex market trades 24 hours a day in exchanges around the world. The overlap of trading hours between North American, Australia, Asia and European currency exchanges makes this possible. after ChinaEoe1/4aos exports shrank at the slowest pace in eight months, boosting confidence in the global...
The US Dollar set a new yearly low in overnight trading after China's exports shrank at the slowest pace in eight months, boosting confidence in the global economic recovery and sending stocks higher in Asian trading to weigh on weigh on
to be oppressive or burdensome to: the expectations that weigh so heavily on diplomats' wives
Verb 1. the safety-liked currency. UK unemployment data is on tap ahead.Key Overnight Developments • Australian Consumer Confidence Rose to Highest in Two Years, Says Westpac • Japan: BOJ BOJ Bank Of Japan
BOJ Bank of Jamaica
BOJ Bourgas, Bulgaria (Airport Code)
BOJ Beginning of Job Keeps Rates, QE Unchanged as Expected; Consumer Confidence Underperforms • US Dollar Sets New 2009 Low as Chinese Export Figures Boost Asian Stock Exchanges Critical Levels The Euro traded higher in the overnight session, adding 0.2% against the US Dollar. The British Pound followed suit, testing as high as 1.5965 against the greenback greenback, in U.S. history, legal tender notes unsecured by specie (coin). In 1862, under the exigencies of the Civil War, the U.S. government first issued legal tender notes (popularly called greenbacks) that were placed on a par with notes backed by specie. . A rally on Asian stock exchanges weighed on the safety-correlated US currency, with the MSCI Asia Pacific regional benchmark index hit a 13-month after China's exports shrank at the slowest pace in eight months in September, boosting confidence in the global economic recovery. We remain short GBPUSD GBPUSD British Pound Sterling to United States Dollar (foreign currency Eexchange) at 1.6617. Asia Session Highlights Australian Consumer Confidence added 1.7% in October, rising to the highest level in over two years according to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. Westpac Banking Corp. Westpac chief economist The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of responsibility encompassing the Bill Evans said the gain was particularly significant because the survey that served as the basis for the outcome was conducted after the central bank unexpectedly raised interest rates last week, suggesting spending will remain supported as borrowing costs continue to rise. Indeed, traders are now pricing in a 100% probability that the RBA RBA Rare Bird Alert
RBA Reserve Bank of Australia
RBA Run Book Automation
RBA Rochester Business Alliance
RBA Rights-Based Approach
RBA Royal Brunei Airlines (ICAO code)
RBA Relative Byte Address
RBA relative binding affinity will hike rates by another 25 basis points next month. September's drop in the jobless rate also likely helped to drive sentiment higher, though as we noted previously, the labor market labor market A place where labor is exchanged for wages; an LM is defined by geography, education and technical expertise, occupation, licensure or certification requirements, and job experience may stumble if government stimulus is withdrawn. Also of concern, a gauge tracking consumers' confidence in purchasing a home fell 11% to the lowest level since November 2008, hinting that optimism may not translate into actual spending and supporting our suspicions of a forming housing bubble in Australia. Japan's Domestic CGPI CGPI Corporate Goods Price Index (Japan)
CGPI Capital Goods Price Index (New Zealand) gauge added 0.1% in September, showing that the annual pace of contraction in wholesale inflation moderated to -7.9% from the record -8.5% registered in the previous month. The shallow improvement likely came as the price of oil and other raw materials rebounded with the global surge in risky assets. Consumer Confidence gained less than expected, rising to 40.7 in September. Economists had expected a 41.3 result ahead of the release. Details of the report appear similar to that of Australia's release: respondents polled for the report were cautiously more optimistic on income and employment prospects, but said they were less willing to commit to big-ticket durable goods durable goods
Goods, such as appliances and automobiles, that have a useful life over a number of periods. Firms that produce durable goods are often subject to wide fluctuations in sales and profits. Also called consumer durables. purchases than they were in August. While this disparity may be accounted for by Augusts' surge in household spending engineered by the government's incentive programs to buy electronics, it is nonetheless worrisome and raises questions about whether higher sentiment will translate into robust spending. For their part, the Bank of Japan said personal consumption remains "generally weak" as it kept interest rates at 0.10% as expected and made no changes to its unconventional monetary easing programs. Policymakers once again upgraded their economic forecast on signs that growth is starting to pick up, but cautioned that the outlook remains significantly uncertain with risks still on the downside. Euro Session: What to Expect UK Jobless Claims are set to add 24,500 in September, pushing the Claimant Count Rate (unemployment rate) to a 22-year high of 5.1%. More of the same is expected going forward, with a survey of economists polled by Bloomberg calling for the jobless rate to top 9% in the second half of next year. While labor market weakness has been a foregone conclusion that has been priced into the exchange rate for some time, the market could prove sensitive to the release this time around with the release coming on the heels of yesterday's disappointing inflation data. Bank of England Bank of England, central bank and note-issuing institution of Great Britain. Popularly known as the Old Lady of Threadneedle Street, its main office stands on the street of that name in London. Governor Mervyn King has recently voiced concerns that rising unemployment will weigh on wages to keep inflation below the central bank's 2% target level into 2011 and possibly beyond, opening the door to speculation that the central bank may expand its asset-buying scheme and possibly lower the interest rate it pays on banks' reserve deposits. Policymakers opted to hold off on any changes this month but many observers (including former MPC (1) (Mobile PC) A handheld or laptop computer. See handheld computer, laptop computer and Ultra-Mobile PC.
(2) (MultiPath Channel) See multipath. policymaker David Blanchflower) suggest a dovish shift will coincide with the release of the bank's updated inflation forecast next month. For streaming currency market news and analysis, please visit http://forexstream.dailyfx.com To reach Ilya regarding this article or subscribe to his email distribution list, please contact him at email@example.com
2009 Al Bawaba (Albawaba.com)
Provided by Syndigate.info an Albawaba.com company