February 3, 2012
Brief Information about Foreign Exchange Rate Movement
New York Market
EUR/USD closed lower at 1.3144 as the investors were worried about the Greece’s debt swap talk after Greek Finance Minister Evangelos Venizelos said that there must be negotiations with public sector in Greek debt swap as well before the agreement in Greek debt-swap talk. This pressure the euro downward despite the support from Chinese Premier
Wen Jiabao stating that the Chinese government is considering funding options for EFSF and ESM through the IMF after meeting with German Chancellor Merkel in Beijing.
USD/JPY closed at 76.22. There was the speculation in the market that Japan will intervene in the foreign-exchange market. Yesterday, Japan’s Finance Minister Jun Azumi said to the reporters ““Speculative moves are increasing in the market and we can’t over look them.”
Asian Market
Asian Currency Most of Asian currencies appreciated yesterday, led by ringgit, won and Singapore dollar. There were capital inflows into most of Asian countries following the improvement in the manufacturing numbers of China, India, US, eurozone countries, Germany, Italy and UK.
USD/THB close at 30.89 (Reuters closed at 30.88), appreciated from the prior trading day in line with most of the Asian currencies. Investors returned to invest in the risky assets in Asia after the improvement in manufacturing numbers in many countries such as China, US and Germany. In addition, investors reduced their concerns after Greek Finance Minister Evangelos Venizelos said the government is ‘one step from closing’ a debt-swap deal with its private bondholders.
Today Market Direction at 8.30 A.M.
|
USD/THB (Onshore) |
30.89 |
30.85 |
31.00 |
Sideway |
Sell USD near resistance |
|
USD/JPY |
76.19 |
75.90 |
76.60 |
Sideway |
Sell USD near resistance |
|
EUR/USD |
1.3119 |
1.3080 |
1.3150 |
Sideway |
Buy EUR near support |
|
EUR/THB |
40.5803 |
40.30 |
40.90 |
Sideway |
Sell EUR near resistance |
|
JPY/THB |
0.4058 |
0.4030 |
0.4090 |
Sideway |
Buy JPY near resistance |