forex week ahead jan 19 2009

Eurogroup's Juncker Speaks Out Against Forex Volatility Ahead of G7

(CEP News) - Eurogroup chairman Jean-Claude Juncker spoke out against volatility in currency markets on Friday, calling the movements unwelcome.Speaking in Rome ahead of this weekend's G7 meeting of finance ministers and central bankers, Juncker touched on euro zone growth prospects. He said the drop in German, Italian and euro zone fourth-quarter GDP growth revealed on Thursday was to be expected, but that it still highlights the severity of the current economic crisis.Looking ahead, he forecasts a return to

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Forex: Dollar continues falling ahead FOMC decision

FXstreet.com (Barcelona) - Dollar has been under pressure along todays session, reaching weekly lows against its majors counterparts. The reaction on the worst than expected US Q1 GDP was limited by the market focusing on the FOMC rate decision. EUR/USD has risen 1.47% so far today to reach the 1.3340 level, fresh 2-weeks high. GBP/USD has advanced 1.00% to 1.4815, new one-week high. USD/CHF has fallen for second consecutive day and the pair has reached a fresh 3-week low at

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Yen Weaker Against Majors Ahead of U.S. Bailout Plan Details

The Japanese yen is weaker against majors on Monday ahead of the U.S. Treasury's press conference detailing its Public-Private Investment Program.Treasury Secretary Timothy Geithner has said the program will create subsidies to encourage private sector investments to purchase toxic debt and offset risk, and that it will initially be worth $500 billion, but could be expanded to $1 trillion. In the aftermath of the announcement, the Japanese Nikkei closed 3.4% while the Eurostoxx was up 2%, the

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Fed's Kohn Says GDP to Show Large Decrease, Sizeable Risks to Inflation Ahead

Federal Reserve Vice Chairman Donald Kohn said next week's release of the Commerce Department's advance GDP estimate for the first quarter of 2009 is expected to show another sizable decrease, and this recession is likely to be among the deepest and longest since World War II.Speaking in Delaware on Monday evening, Kohn said consumption appears to have steadied after a sharp drop in the second half of 2008. Kohn also said that the declines in sales and construction of single-family

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GBP/USD; Sterling closing New York session at 1.4690

FXstreet.com (Jakarta) - The Sterling (GBP) rebounded with stocks supported by EUR/GBP selling and GBP/JPY buying. A lot of data is ahead of us this week including Q1 GDP which will be critical in the pounds short term direction. CPI (Mar) came in at 2.9% y/y as expected.?Overall the GBP/USD traded with a low of 1.4481 and a high of 1.4706 before closing the day at 1.4690 in the New York sesión,? said Easy Forex Team.For more information, read our

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Traders Hesitant to Short U.S. Dollar Ahead of Friday's NFP Report

U.S. dollar bears could be a little hesitant to look for further losses in the greenback ahead of Friday's nonfarm payrolls report.The U.S. dollar was under extreme pressure Thursday as U.S. equity indexes showed almost 3% gains across the board. The U.S. dollar index lost a full point on the day, closing at 84.446. The greenback gave back most of the gains it has made since March 27. Investors on Thursday morning were eager to move away from

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Euro Stuck in Range Ahead of ECB Rate Decision

The euro made modest gains on Thursday but isn't likely to make a powerful move until the European Central Bank meets next week, market watchers say.The euro gained 0.0025 to 1.2749 USD as the U.S. dollar lost ground against most major currencies.The ECB meets Mar. 5 and is expected to lower rates. Adam Fazio, currency strategist at CIBC World Markets, said he expects the euro to fall to 1.16, but that it will likely remain trapped in

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Forex - Forex market is mixed ahead of US presidential election

The Dollar tends to gain as risk aversion rises because dollar-based investors repatriate money or look for safety in U.S. Treasury debt. US factory activity plunged to a 26-year low last month boosted US and global recession fears. Analyst said the US manufacturing data, an $11bio capital injection in South Korea, an interest rate cut in Indi

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Yen Weakens After G20 Meetings, Ahead of U.S. Nonfarm Payrolls

The Japanese yen is weaker on Friday in the aftermath of the G20 meetings in London and ahead of key employment data from the United States.On Thursday, the G20 agreed to an additional $1.1 trillion in global stimulus through the IMF and other international agencies, along with promises to do whatever is necessary to restore confidence and jobs.The G20 member nations also vowed to repair the financial system in order to restore lending, to strengthen financial regulation

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