FOREX News and Overnight Technical Levels - August 10th, 2007

[B][U]Fundamental Headlines[/U][/B]

  • [B]AUDUSD[/B] - Reserve Bank of Australia joins the foray, pumps 4.95 billion AUD in order to ease the credit crunch. Move comes after Fed, ECB and BOJ pump liquidity in the markets.
  • [B]USDJPY[/B] - Consumer confidence for the month of July was weaker than expected despite higher levels of productivity. Bank of Japan adds 1 trillion yen in order to ease current crunch.
  • [B]EURUSD[/B] - Eurozone June OECD lending index rises to 108 from the previous 107.9. Figure couples with June manufacturing production that declines in France by 0.5 percent.
  • [B]USDCAD[/B] - Net change in employment rises 11.3K, much lower than expected and shows potential weakening in the Canadian labor market.
  • [B]China[/B] released trade balance figures that impress, surplus widens by a whopping 67 percent in the month.

[I]-Richard Lee, Currency Strategist[/I]