- Index : HSBC Currency Weekly : Page 16
HSBC Currency Weekly
Major rally for the US dollar
- The dollar enjoyed broad-based gains this week against a range of currencies as investors increasingly bet on hopes of a sustained recovery for the US economy. Unexpectedly strong second-quarter growth figures from the US appeared to support the confidence shown in the economic recovery by Alan Greenspan, chairman of the Federal Reserve, earlier in July.
- Saturday, August 02 - 2003 at 19:43
US dollar tumbles against the euro
- Government bond yields in the eurozone and the US rose to multi-month highs this week in anticipation of a US recovery. But the dollar fell versus the euro as foreign exchange players worried that their optimism was over done while global stocks drifted in ranges.
- Saturday, July 26 - 2003 at 15:42
Euro on the defensive as US dollar shows strong gains
- Financial markets were waiting for Greenspan's assessment of the economy and watching for hints of the Fed's monetary policy direction. The Federal Reserve Chairman gave a positive testimony on the US economy and hinted that the Central Bank still has room for more interest rate cuts.
- Saturday, July 19 - 2003 at 14:15
US dollar resurges against euro and pound sterling
- Optimism about US economic recovery underpinned the US dollar against the major currencies. Also the European Central Bank left interest rates unchanged at two per cent, while the Bank of England surprised the market and cut its interest rates by a quarter point to 3.5 per cent.
- Sunday, July 13 - 2003 at 09:42
A volatile week for currencies
- In a volatile week, shortened by the July 4th holiday in the United States, the greenback ended higher against the euro after being down better part of two days at the beginning of the week. The Japanese currency reaped rewards from better-than-expected Tankan survey results, whereas, the pound remained in ranges due to mixed data and comments from New BoE Governor.
- Sunday, July 06 - 2003 at 10:19
Euro drops against US dollar
- The greenback rallied on the improving economic outlook, and better than expected figures on US unemployment. Meanwhile, there was precious little to get excited about in the euro zone countries, and UK growth was at its weakest since the 1992 recession.
- Monday, June 30 - 2003 at 10:11
Watch for the Federal Reserve's big decision this week
- A meeting of the US Federal Reserve this week is sure to hog the market spotlight after weeks of speculation over whether the Central Bank will deliver a small or larger interest rate cut to boost economic growth. Financial markets are betting Fed will lower rates by half a point.
- Saturday, June 21 - 2003 at 16:19
US dollar lurches up and down
- Throughout the week dollar saw lot of up and downs on the back of Freddie Mac scandal, comments out of ECB, decision on whether UK is ready to join the eurozone, rising expectations of Fed interest rate cut and mixed economic indicators concentrated at the end of the week.
- Saturday, June 14 - 2003 at 18:33
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