{"id":3132,"date":"2009-07-29T12:38:08","date_gmt":"2009-07-29T17:38:08","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=3132"},"modified":"2009-07-29T12:38:08","modified_gmt":"2009-07-29T17:38:08","slug":"fundamental-outlook-at-1400-gmt-edt-0400-63","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/07\/29\/fundamental-outlook-at-1400-gmt-edt-0400-63\/","title":{"rendered":"Fundamental Outlook at 1400 GMT (EDT + 0400)"},"content":{"rendered":"

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

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

The euro depreciated modestly vis-\u00e0-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4015 level and was capped around the $1.4195 level.\u00a0 Data released in the U.S. today saw June durable goods orders decline 2.5%, a sharp swing downward from the +1.8% prior release and the expected -0.6% print.\u00a0 The ex-transportation component, in contrast, notched growth of 1.1%, up from the revised 0.8% print in May and above the 0.0% forecast.\u00a0 Additionally, MBA mortgage applications were off 6.3% last week, down from the +2.8% print the prior week.\u00a0 Traders await the Federal Reserve\u2019s July Beige Book later in the North American session for any clues about how the Fed will unwind its massive monetary stimuli.\u00a0 In eurozone news, the European Central Bank\u2019s quarterly lending survey reported banks continued to tighten credit conditions in the second quarter, albeit at a lesser rate than in previous quarters.\u00a0 German provisional July consumer price inflation data were released that indicated many German states saw negative inflation growth in July.\u00a0 This will likely prod the ECB into continuing its generous liquidity provision for the next couple of quarters. Specifically, it was reported CPI was likely to have fallen year-over-year for the first time in more than twenty years.\u00a0 Euro bids are cited around the US$ 1.3900 figure.<\/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 \u00a595.10 level and was supported around the \u00a594.00 figure.\u00a0 Data released in Japan today saw June retail sales off 3% y\/y.\u00a0\u00a0 There is significant talk that Japanese investors will be repatriating proceeds from Eurobond redemptions and this is weighing heavily on some of the crosses.\u00a0 Data released in Japan today saw June retail sales decline 3% y\/y.\u00a0 Most traders believe Bank of Japan will begin to gradually unwind its considerable monetary stimuli by the end of the year when some of its emergency lending and liquidity provision programs begin to mature.\u00a0 The Nikkei 225 stock index climbed 0.26% to close at \u00a510,113.24.\u00a0 U.S. dollar offers are cited around the \u00a5104.15 level.\u00a0 The euro moved lower vis-\u00e0-vis the yen as the single currency tested bids around the \u00a5132.75 level and was capped around the \u00a5134.40 level.\u00a0 The British pound moved higher vis-\u00e0-vis the yen as sterling tested offers around the \u00a5156.30 level while the Swiss franc moved lower vis-\u00e0-vis the yen and tested bids around the \u00a587.10 level. In Chinese news, the U.S. dollar lost ground vis-\u00e0-vis the Chinese yuan as the greenback closed at CNY 6.8285 in the over-the-counter market, down from CNY 6.8315.<\/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 Fx Research \u20ac The euro depreciated modestly vis-\u00e0-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4015 level and was capped around the $1.4195 level.\u00a0 Data released in the U.S. today saw June durable goods orders decline 2.5%, a sharp swing downward from the +1.8% prior release and … <\/p>\n

Continue reading “Fundamental Outlook at 1400 GMT (EDT + 0400)”<\/span><\/a><\/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-3132","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/3132","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=3132"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/3132\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=3132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=3132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=3132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}