HSBC Currency Weekly

US dollar's dive a nasty surprise
A surprising dive in the greenback and an unexpected cut in OPEC oil production dealt a double whammy to U.S equity markets, sending the Nasdaq down about 6 per cent, the Dow down 3.4 per cent, while the S&P 500 dropped 3.8 percent for the week. A flurry of economic data due next week should provide a welcome relief to financial markets.
Sunday, September 28 - 2003 at 11:03

Markets challenge BoJ on intervention
The dollar slipped to a 2-1/2 year low versus the yen as markets challenged the Bank of Japan to undertake yen-selling intervention. Traders dared the BoJ to redefine the 'line in the sand' or level at which Japan is willing to tolerate yenstrength, as the Group of Seven industrialised nations meeting in Dubai gets underway.
Saturday, September 20 - 2003 at 14:14

US dollar clobbered across the globe
In a week haunted by weakness in the US labour market, the dollar wilted under pressure as markets started focussing attention on the health of the US economic recovery and cast doubts over the sustainability of current economic growth.
Saturday, September 13 - 2003 at 20:01

Jobs data knocks the US dollar down
The dollar's hopes were dented after an eagerly awaited employment report indicated the labour market shed nearly 100,000 jobs in the past month. Financial markets will focus on retail sales data next week for proof that US consumers are flocking the shops to fuel an economic recovery.
Saturday, September 06 - 2003 at 14:33

Dollar slumps as traders get jittery
At the end of the week the US dollar slumped against the euro as traders got jittery ahead of the long US labour day holiday weekend. This seemed paradoxical as 3.1 per cent GDP growth in US GDP pointed to a growing economic recovery.
Saturday, August 30 - 2003 at 15:47

US recovery boosts dollar, hits euro
The US and Japanese economies exhibited signs of recovery, which gave the dollar and the yen double boost. Meanwhile, raising fears that the euro zone could slip into recession weighed on the euro, after France announced that its economy slid in the second quarter following contraction in Italy, Germany and Netherlands in the same quarter.
Saturday, August 23 - 2003 at 14:32

No more support for the US dollar
Currency markets across the globe experienced mild gyrations as a spate of US economic data released during the week painted a bright picture of the US economy, but failed to add significant support to the greenback. Yields on US Treasuries spiked up sharply igniting fears of premature rate hikes as most data indicated that the pace of growth in the world's largest economy was gaining momentum.
Sunday, August 17 - 2003 at 12:42

Markets stay in established ranges
Currency markets remained within well-established ranges throughout the past week, due to the absence of major economic data from both sides of the Atlantic. The issue of U.S. Treasuries hogged the limelight and remained the only driving force in an otherwise sombre market.
Sunday, August 10 - 2003 at 14:32