{"id":1974,"date":"2009-05-14T19:45:35","date_gmt":"2009-05-15T00:45:35","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=1974"},"modified":"2009-05-14T19:45:35","modified_gmt":"2009-05-15T00:45:35","slug":"fundamental-outlook-at-1400-gmt-edt-0400-34","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/05\/14\/fundamental-outlook-at-1400-gmt-edt-0400-34\/","title":{"rendered":"Fundamental Outlook at 1400 GMT (EDT + 0400)"},"content":{"rendered":"

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

\u20ac<\/p>\n

The euro appreciated vis-\u00e0-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3665 level and was supported around the US$ 1.3525 level.\u00a0 U.S. equity markets retraced some of yesterday\u2019s losses, boosting economic sentiment and caused traders to chase higher-yielding currencies.\u00a0 Data released in the U.S. today saw weekly initial jobless claims climb 32,000 last week to 637,000 while.\u00a0 Also, April producer prices were up 0.3%, defying expectations of a 0.1% climb.\u00a0 Some dealers believe all of the fiscal and monetary stimuli in the economy could engender a nasty bout of inflation and erode the value of the dollar.\u00a0 The core producer price index was up +0.1%.\u00a0 Continuing jobless claims were up 202,000 to 6.56 million, the highest level since at least 1967.\u00a0 In eurozone news, many economic data will be released tomorrow including first quarter German and French gross domestic product data and eurozone consumer price inflation data.\u00a0 Euro bids are cited around the US$ 1.2765 level.<\/p>\n

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

The yen depreciated vis-\u00e0-vis the U.S. dollar today as the greenback tested offers around the \u00a595.85 level and was supported around the \u00a595.10 level.\u00a0 Risk appetite returned to the market as traders moved into higher-yielding currencies.\u00a0 The Japanese media reported the Cabinet Office is planning to upwardly revise its assessment of the economy later this month, possibly noting the pace of deteriorating is moderating.\u00a0 The government may report the economy has bottomed out and would represent the government\u2019s first upward revision since February 2006.\u00a0\u00a0 Last month\u2019s report indicated \u201cThe economy is worsening rapidly and is in a severe situation.\u00a0 The pace of worsening is expected to moderate as inventory adjustment progresses.\u201d\u00a0 Earlier this month, it was reported industrial production evidenced its first monthly increase in six months.\u00a0 The Nikkei 225 yesterday stock index lost 2.64% today to close at \u00a59,093.73.\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 \u00a5130.90 level and was supported around the \u00a5128.85 level.\u00a0 The British pound moved higher vis-\u00e0-vis the yen as sterling tested offers around the \u00a5146.15 level while the Swiss franc moved higher vis-\u00e0-vis the yen and tested bids around the \u00a586.90 level. In Chinese news, the U.S. dollar appreciated vis-\u00e0-vis the Chinese yuan as the greenback closed at CNY 6.8250 in the over-the-counter market, up from CNY 6.8225.<\/p>\n

Daily Market Commentary<\/strong><\/em> provided by\u00a0GCI 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.<\/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.<\/p>\n","protected":false},"excerpt":{"rendered":"

By GCI Financial – The euro appreciated vis-\u00e0-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3665…<\/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-1974","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1974","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=1974"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1974\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=1974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=1974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=1974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}