FOREX News and Overnight Technical Levels - August 21st

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

  • [B]NZDUSD -[/B] Finance Minister Cullen comments that the New Zealand dollar is near the upper barrier of its trading range.
  • [B]USDJPY[/B] - Japanese Finance Minister Omi has phone conference with US Treasury Secretary Paulson. Although agrees that markets have stabilized, the situation may not fully be resolved.
  • [B]GBPUSD[/B] - Bank of England loans 314 million pounds in cash at penalty rate of 6.75 percent yesterday.
  • [B]USDCHF[/B] - Swiss trade balance narrows to 1.57 billion from previous 1.65 billion.
  • [B]EURUSD[/B] - Economic sentiment in Eurozone dips below the zero line, pessimistic for the month compared to the previous +7.2 reading. Although negative for the market, the euro was supported by a wider than expected trade balance.
  • [B]China[/B] raises lending rate for the fourth time this year. Raise was widely expected by the market.

  • Richard Lee, Currency Strategist