Daily Forex Snapshots

US Session: Improved Risk Appetite Following Shaky Press Release Following FOMC

June 25, 2009 8:55 PM CEST

G10 Advancers and Decliners vs USD

	Nzd	0.39
	Aud	0.22
	Eur	0.09
	Dkk	0.04
	Chf	-0.01
	Cad	-0.01
	Sek	-0.35
	Gbp	-0.55
	Nok	-0.55
	Jpy	-0.58

Global Indexes

Current Level

% Change

DJIA Index	8,422.21	+ 1.47
S&P 500 Index	914.75	+ 1.53
NASDAQ 100 Index	1,821.14	+ 1.61
Nikkei 225 Futures	9,760.00	+ 0.31
Hang Seng Futures	18,319.00	+ 2.01
FTSE futures	4,222.00	- 0.64
SMI Futures	5,351.00	- 1.49

World Markets

Current Level

% Change

Crude wti	69.45	+ 1.14
Gold	938.08	+ 0.72
Silver	13.99	+ 0.92
USD Index	80.69	+ 0.16
VIX	27.21	- 6.33

Todays Calender

Estimates

Country / GMT

No Major Events Scheduled

Currency Tech

AUDUSD
R 3: 0.8375
R 2: 0.8263
R 1: 0.8120
CURRENT: 0.7989
S 1: 0.7790
S 2: 0.7703
S 3: 0.7630

EURJPY
R 3: 139.20
R 2: 138.33
R 1: 135.35
CURRENT: 134.62
S 1: 131.43
S 2: 129.70
S 3: 126.98

USDSGD
R 3: 1.4800
R 2: 1.4748
R 1: 1.4649
CURRENT: 1.4567
S 1: 1.4515
S 2: 1.4425
S 3: 1.4385

Market Brief

Risk appetite receded after initial jobless claims rose to 627k vs. 600k forecasted, fueling the post-FOMC dollar rally. Dow futures pointed lower after the data release. The bearish tone from the Fed’s announcement yesterday buoyed taming expectations of a recovery. The tone in the FX market is mixed with dollar strenth early but somewhat of a reversal as the session progressed mostly due to relief in Bernanke's testimony to Senate as his response has been poised and well balanced. In conjunction with the Fed's prior actions the ECB injected 422bn euro loan to the market, sending interest rates and the euro lower. The euro had been trending lower from the 1.41 level yesterday after the FOMC meeting and consolidated around 1.39 in early trading.

The Swiss franc continues to decline against most majors but the pace has been slowed. Swiss National bank Chairman Jean-Pierre Roth said on June 18 policy makers are determined to “stop a further appreciation of the franc.” Nicolas Haymoz, a bank spokesman, declined to comment on whether the bank acted in foreign-exchange markets today. The Swissie experienced a sharp selloff agains the Usd and Eur, with price action in excess of 300pips providing Traders with ample opportunity to extract profits.

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