{"id":1046,"date":"2009-03-20T14:27:34","date_gmt":"2009-03-20T19:27:34","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=1046"},"modified":"2009-03-20T14:27:34","modified_gmt":"2009-03-20T19:27:34","slug":"fundamental-outlook-at-1400-gmt-edt-0400","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/03\/20\/fundamental-outlook-at-1400-gmt-edt-0400\/","title":{"rendered":"Fundamental Outlook at 1400 GMT (EDT + 0400)"},"content":{"rendered":"

By GCI Fx Research<\/span><\/p>\n

\u20ac<\/strong><\/p>\n

The euro depreciated vis-\u00e0-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3515 level and was capped around the US$ 1.3725 level.\u00a0 The common currency came off as traders booked profits following a week of massive U.S. dollar depreciation.\u00a0 Dealers sold the greenback earlier this week on fears that the Fed\u2019s plan to create up to US$ 1.15 trillion in new liquidity will result in inflation and erode the value of the dollar.\u00a0 Also, the Fed\u2019s purchases of U.S. Treasuries and mortgage-backed securities will depress interest rates and make certain fixed-income assets less attactive to investors.\u00a0 Federal Reserve Chairman Bernanke defended the Obama administration\u2019s plan to limit remuneration at certain U.S. financial institutions and said the U.S. \u201cdoes not have a realistic alternative to preventing such failures (of big banks).\u201d\u00a0 In eurozone news, European Central Bank member Weber said no eurozone country is currently facing payment difficulties.\u00a0 The ECB remains under pressure to initiate quantitative easing measures like other central banks have done.\u00a0 Data released in the eurozone today saw EMU-16 January industrial output off 3.5% m\/m and 17.3% y\/y.\u00a0 German February PPI was off 0.5% m\/m and up 0.9% y\/y.\u00a0 Euro bids are cited around the US$ 1.2385 level.<\/p>\n

\u00a5\/ CNY<\/strong><\/p>\n

The yen depreciated vis-\u00e0-vis the U.S. dollar today as the greenback tested offers around the \u00a596.25 level and was supported around the \u00a594.15 level.\u00a0 Liquidity was muted in Japan overnight on account of the Spring Day holiday.\u00a0 Bank of Japan announced it will likely provide subordinated loans to Japanese companies ahead of the end of the fiscal year at the end of this month.\u00a0 The government is eager to prevent corporate collapses that may originate because of dysfunction in the asset-backed commercial paper market.\u00a0 The Nikkei 225 stock index lost 0.33% to close at \u00a57,945.96.\u00a0 U.S. dollar offers are cited around the \u00a5104.15 level.\u00a0 The euro moved higher vis-\u00e0-vis the yen as the single currency tested offers around the \u00a5130.45 level and was supported around the \u00a5129.00 figure.\u00a0 The British pound moved higher vis-\u00e0-vis the yen as sterling tested offers around the \u00a5138.95 level while the Swiss franc moved higher vis-\u00e0-vis the yen and tested offers around the \u00a585.55 level.<\/p>\n

Daily Market Commentary provided by GCI Financial Ltd<\/strong><\/a>.<\/strong><\/p>\n

GCI Financial Ltd (\u201dGCI\u201d) is a regulated securities and commodities trading firm, specializing in online Foreign Exchange (\u201dForex\u201d) brokerage. GCI executes billions of dollars per month in foreign exchange transactions alone. In addition to Forex, GCI is a primary market maker in Contracts for Difference (\u201dCFDs\u201d) on shares, indices and futures, and offers one of the fastest growing online CFD trading services. GCI has over 10,000 clients worldwide, including individual traders, institutions, and money managers. GCI provides an advanced, secure, and comprehensive online trading system. Client funds are insured and held in a separate customer account. In addition, GCI Financial Ltd maintains Net Capital in excess of minimum regulatory requirements.<\/span><\/p>\n

DISCLAIMER: GCI\u2019s Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be U.S.ed as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

By GCI Financial – The euro depreciated vis-\u00e0-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3515 level and was capped…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1046","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1046","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=1046"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1046\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=1046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=1046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=1046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}