Print this Page
Market News : Daily Commentary
� | |||||||||||||||||||||||||||||||||||||||||
 |
MARKET NEWS: Daily Commentary |
||||||||||||||||||||||||||||||||||||||||
|
| ||||||||||||||||||||||||||||||||||||||||
INDICATIVE DEPOSIT RATES
|
|||||||||||||||||||||||||||||||||||||||||
|
Broken dates available on request Our deposit rates are not tiered All transfers free of charges via Chaps or Swift Foreign exchange hedging solutions available Pro-active service entirely tailored to your needs Deal confirmations always produced
|
|||||||||||||||||||||||||||||||||||||||||
|
FOREIGN EXCHANGE LEVELS - INDICATIVE RATES
|
||||||||||||||||||||||||||||||||||||||||
|
Good morning.
Dollar steady after Rebound.
The dollar rose sharply on Wednesday, brushing of weak U.S. Home sales data and posting its biggest daily gain in a year against a basket of major currencies. The Euro slipped a touch below 1.3700, off a record high hit earlier in the week. The dollar also inched up 0.1 percent to JPY 120.55 pulling away from the 119.80 level, its weakest in 2 � months, touched the previous sessions.
Cable declined against the dollar. Trading as high as 2.0654 the pair slumped to around 2.0485 as gains in U.S. stocks quelled some worries concerning the fallout in the Subprime market and also shrugging of the disappointment in U.S. existing homes sales, showing a fall in June to a 4 � year low.
In a UK Times interview, MPC Besley stated that he was uncertain how much the UK economy will slow in response to five interest-rate rises and that the economy does not have much spare capacity. Sterling strengthened against the Euro yesterday moving from around 1.4890 in the morning to around 1.4965 by the close of Europe.
The New Zealand dollar was also another U.S. dollar victim. After the Reserve Bank of New Zealand followed up the expected rate increase (+0.25% to 8.25%) with the announcement that the high NZD is not sustainable in the medium term and that it does not expect further tightening, this saw the currency pair fall to around 0.7965 before lifting slightly.
Markets await German business confidence figures from the Ifo institute due at 9:00am, which is expected to fall for the second month in a row. At 2:00 pm we have the release of New home sales from the U.S. which is also expected to slide, in line with existing sales yesterday.
Support and Resistance
GBP/USD � 2.0480/2.0460/2.0425 Resistance 2.0560/2.0585/2.0620 EUR/USD � 1.3680/1.3660/1.3635Resistance 1.3755/1.37805/1.3800 EUR/GBP � 0.67675/0.6660/0.6645 Resistance 0.6700/0.6720/0.6745
Anglo Irish Bank UK Treasury
Anglo Irish Bank Corporation Plc, | | |||||||||||||||||||||||||||||||||||||||
�