HSBC Currency Weekly

Rate reduction takes its toll on the US dollar
The greenback was driven from the frying pan into the fire following interest rate announcements by three major central banks. Market players rewarded higher interest yielding currencies, driving the greenback to fresh lows.
Sunday, November 10 - 2002 at 09:33

US dollar heads lower against the euro
The US dollar sang the sad song as economic data released last week drew a gloomy picture of the world's largest economy and left investors in a quandary. The pressure kicked off with the release of US consumer confidence, which tumbled to a nine year low, while subsequent data, most of which were below expectations pushed the dollar lower and forced many analysts to predict a 25-50 basis point rate cut at next week's Fed meeting.
Sunday, November 03 - 2002 at 09:33

Euro stays in a tight range
The Ifo index of German business confidence will set the tone for next week's financial markets alongside US and UK consumer confidence figures, as investors watch stock markets and hope the current rally continues. Germany's closely watched Ifo index is expected to fall for the fifth month in a row during October.
Saturday, October 26 - 2002 at 15:33

Stock prices send the dollar higher
A surge in stock prices dictated the trend of currency and bond markets the whole week, with the pattern likely to continue. Next week, the US Federal Reserve's Beige Book of economic conditions, a speech by the bank's chairman Alan Greenspan and the release of the durable goods data may give clues as to whether the Fed will cut interest rates at its next policy meeting on November 6.
Sunday, October 20 - 2002 at 10:00

Yen stays under pressure
US stocks broke a six-week losing streak to register their first weekly gain since late August. While many remain sceptical over the market's ability to maintain its stamina, they also applauded its ability to brush off bad news. However, nothing could help the yen to fight off a further decline.
Saturday, October 12 - 2002 at 14:19

Trading stays range bound
With uncertainty dominating financial markets especially in the wake of fears that a U.S. military strike against Iraq is increasingly likely, major currencies continued to stray in familiar price ranges. The biggest threat to current forecasts would be a U.S-led war with Iraq, some economists said.
Tuesday, October 01 - 2002 at 14:02

Federal Reserve unlikely to change rates
Last week the market was focused on the tension between the United States and Iraq over U.N arms inspectors. In the coming week, markets will focus on the release of Consumer Confidence, Durable goods and Real GDP data. In addition, the Federal Open Market Committee meets on Tuesday and expectations are that Fed will leave interest rates on hold at a 40-year low of 1.75 percent.
Saturday, September 21 - 2002 at 18:26

Dollar rallies post-September 11
Hush! …….was the word at the beginning of last week, as nervous investors across the globe watched from the sidelines, not knowing what to do ahead of the first anniversary of the worst-ever disaster America has ever seen. However, as fears of an attack eased the dollar put up an impressive performance.
Monday, September 16 - 2002 at 09:37