forex trading

Tuesday, May 1, 2007

Bonds Generally Finish Lower On Tuesday, Tuesday, May 01, 2007 3:31:23 PM

The mid-morning release of economic news caused a sell-off in the treasury market on Tuesday, sending bonds lower and treasury yields higher. Bonds declined with the release of stronger-than-expected data on the manufacturing sector but began to move back toward the unchanged line as Wall Street began exhibiting strength in the afternoon.

The 10-year yield began Tuesday`s session lower, continuing the downward trend that was seen throughout Monday`s trading. However, the data on manufacturing in April sent yields up nearly 5 basis points. As the day progressed, the 10-year yield slipped off its high for the session, but still closed up 1.2 basis points at 4.642%.

At the same time, the 5-year yield closed 2.3 basis points higher at 4.539%. Meanwhile, the 30-year yield slipped back below the flat line near the end of the day, closing at 4.816%, down less than a basis point on the day.

At 10 am Eastern Time, the ISM said that its index of activity in the manufacturing sector rose to 54.7 in April from 50.9 in March, with a reading above 50 indicating growth in the sector. Economists had expected a much more modest increase to about 51.0.

Meanwhile, the National Association of Realtors reported its index for pending sales of existing homes decreased at a seasonally adjusted annual rate of 4.9% to 104.3 in March from 109.7 in February.

Yen Varied Against World Counterparts, Tuesday, May 01, 2007 2:14:29 PM

The yen was mixed in action on Tuesday afternoon against its world counterparts. The yen moved with little economic news from the area. No news is expected from Japan tomorrow, and the markets will be closed on Thursday and Friday for the holiday.

Against the sterling, the yen saw choppy direction through trading on Tuesday. The currency bounced between a low of 239.68 and a high of 238.94. In general, the currency is near a 13 week low.

The yen edged up against the euro in action on Tuesday. The currency advanced to a mark of 162.93 after choppy action in the morning. Overall, the yen has moved uncertainly over the past week since reaching a multi-year low.

In trading with the dollar, the yen saw weakness on Tuesday. By the mid-afternoon, the Japanese currency had fallen to 119.81. On the whole, the currency is at its lowest point since the end of February.

Eastern European Currencies Mostly Choppy Against Dollar And Euro, Tuesday, May 01, 2007 10:00:35 AM

The zloty and rouble were choppy against their world counterparts on Tuesday, while the forint saw weakness. The currencies moved with little economic news from the area.

The rouble was choppy against the dollar as it held between a high of 25.6700 and a low of 25.7049 on Tuesday morning. In general, the currency continues to move at a multi-year high. In trading against the euro, the rouble held between a high of 35.0399 and a low of 35.1083. On the whole, the Russian currency is at a multi-year low.

The Polish currency saw uncertain movement versus the buck on Tuesday as it bounced between a high of 2.7677 and a low of 2.7836. Overall, the zloty has held in a weekly range after hitting a multi-year high against the dollar. In trading against the euro, the zloty moved between a high of 3.7720 and a low of 3.7959. In general, the Polish currency is near a two week low.

The forint fell to 181.880 against the American currency on Tuesday morning. The currency is at a two week low against the buck. Against the euro, the Hungarian currency slipped to 248.649 in the mid morning action. Generally, the forint is at a monthly low.

Southeast Asian Currencies Varied Against Dollar And Euro, Tuesday, May 01, 2007 9:50:29 AM

The Southeast Asian currencies were varied against the dollar and euro in trading on Tuesday morning. The currencies moved as little economic news was reported from their respective countries.

The Indonesian rupiah was choppy against the dollar in action on Tuesday. The currency moved between a high of 9075.0488 and a low of 9083.1103. Overall, the rupiah has started to reverse a weekly low.

The Thai baht saw little movement against the dollar on Tuesday as it hovered near a mark of 32.510. The baht has not moved out of the trading range that has held for the past two months. Against the euro, the Thai currency fell to 44.4310. On the whole, the baht is at a two month low.

The Singapore dollar reversed earlier losses against the dollar on Tuesday and edged up to 1.5188. In general, the Singapore currency has started to bounce up off a monthly low. In trading versus the euro, the Singapore dollar faltered and fell to 2.0758 by the mid-morning. On the whole, the currency is at a multi-year low.

South African Currency Uncertain On Tuesday, Tuesday, May 01, 2007 9:43:50 AM

The South African currency was mixed against its American and European counterparts on Tuesday. The rand moved with little economic news from the area.

The South African rand was choppy against its American counterpart on Tuesday. By the mid-morning, the rand had moved between a high of 7.0003 and a low of 7.0672. In general, the currency is near weekly high.

Against the euro, the South African currency saw mixed direction in trading. As action moved into Tuesday`s mid-morning, the rand bounced between a high of 9.5633 and a low of 9.6402. On the whole, the currency is within the range of the past two months.

Indian Rupee Remains Strong Against Dollar, Tuesday, May 01, 2007 9:37:40 AM

The Indian rupee edged up against the American dollar in trading on Tuesday. As action moved into the mid-morning, the rupee reached a mark of 41.000. In general, the Indian currency continues to add to its multi-year high against the buck. The Indian rupee traded as the country`s deficit widened to USD56.73 billion for the year ending March 2007.

Swiss Franc Varied Versus Counterparts On Tuesday Morning, Tuesday, May 01, 2007 9:26:51 AM

The Swiss currency was varied against its world counterparts on Tuesday. The currency traded with little economic news from its country.

The Swiss franc earned backed early losses against the dollar on Tuesday. As mid-morning trading progressed, the currency climbed to 1.2059. The currency is nearing a weekly high against its American counterpart.

In trading against the pound, the Swiss currency saw weakness on Tuesday. The fall brought the franc to a mark of 2.4197 in the mid-morning action. On the whole, the Swiss franc is at a two week low.

Against the euro, the Swiss franc was choppy in action on Tuesday. By the mid-morning, the franc had bounced between a high of 1.6459 and a low of 1.6495. In general, the currency is at a multi-year low against the euro.

The Swiss currency saw little direction against the yen on Tuesday. As trading progressed, the franc moved between a high of 99.09 and a low of 98.79. Overall, the Swiss franc is at a weekly low against the Japanese yen.

Tuesday, May 1, 2007

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