{"id":10470,"date":"2010-06-23T08:42:33","date_gmt":"2010-06-23T12:42:33","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=10470"},"modified":"2010-06-23T08:42:33","modified_gmt":"2010-06-23T12:42:33","slug":"forex-market-review-06232010","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/06\/23\/forex-market-review-06232010\/","title":{"rendered":"Forex Market Review 06\/23\/2010"},"content":{"rendered":"<p><strong>Market Analysis <a href=\"http:\/\/system.referforex.com\/processing\/clickthrgh.asp?btag=a_1391b_3739\" target=\"_blank\">by Finexo.com<\/a><\/strong><\/p>\n<p>The U.S. Dollar and the Japanese Yen gained ground yesterday while Euro and other higher-yielding currencies remained on the defensive as it appears that the recent risk rally has run its course and the excitement from China&#8217;s new Yuan policy has died off.<\/p>\n<p><strong>EURUSD<\/strong><br \/>\nThe Euro halted its recent decline against the U.S. dollar this morning, rising from a 4-day low just hours before of the Federal Reserve\u2019s key interest rate announcement. The EUR\/USD touched on 1.2245 during the early Asian sessions &#8211; its lowest since June 17th.<\/p>\n<p>Later today, the U.S Fed is expected to hold its benchmark interest rate near 0%, in what it hopes will be a relatively calm meeting. However, economists do not predict that the Fed will soften its \u201cextending period\u201d language at today\u2019s meeting.<\/p>\n<p>Also out today, the U.S Census Bureau will release the number of new homes sold during May.\u00a0 Analysts predict that the number will fall 19% from 504K to 424K. This key housing figure follows yesterday\u2019s disappointing sales of previously owned homes, which unexpectedly fell 2.2% in May.<\/p>\n<p>Support\/Resistance 1.2240\/1.2356<\/p>\n<p><strong>GBP\/USD<\/strong><br \/>\nYesterday, Britain&#8217;s newly elected government laid out what has been called an &#8220;unavoidable budget,&#8221; in hopes of reducing the nation\u2019s massive budget deficit.\u00a0 In his speech before parliament, Treasury chief George Osborne unveiled a fiscal tightening plan of new spending cuts, tax hikes\u00a0 and bank levies that will add up to 8% of the U.K\u2019s GDP by 2015-16, representing the deepest cuts in over three decades.\u00a0 The Sterling rose above the 1.48 mark as the UK budget was applauded by many of the world\u2019s rating agencies.<\/p>\n<p>Support\/Resistance 1.4800\/1.4921<\/p>\n<p><strong><a href=\"http:\/\/system.referforex.com\/processing\/clickthrgh.asp?btag=a_1391b_3739\" target=\"_blank\">Forex Market Review &amp; Analysis by Finexo.com<\/a><\/strong><\/p>\n<p>Disclaimer: Trading the foreign exchange (Forex) carries a high level          of risk, and may not be suitable for all investors. All     information     and  opinions contained on this website are to be used     for general      informational purposes only and do not consitute     investment advice.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Finexo &#8211; The U.S. Dollar and the Japanese Yen gained ground yesterday while Euro and other higher-yielding currencies remained on the defensive as it appears that the recent risk rally has run its course&#8230;<\/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-10470","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10470","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=10470"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10470\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=10470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=10470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=10470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}