MORNING BRIEFING: The Dollar continued to decline, assuming an increase of acquisitions of assets in the US.

[RTFX-Trading]

MORNING BRIEFING: The Dollar continued to decline, assuming an increase of acquisitions of assets in the US.

What’s new:
United States: the Dow Jones above 10,000 points following the good results from JPMorgan and Intel.
United States: 7,500 Americans admit to tax accounts abroad.
United States: the program of acquisitions of assets discussed at the last FOMC meeting.
United States: Tarullo (EDF) said that the commercial real estate remains fragile.
Germany: GDP forecast for 2010 revised upwards to 1.20%.
U.S.: stocks of companies retreating more than expected in August.
Oil: the most hated in 2009 to over $ 75 a barrel.
USA: declining retail sales in September, but weaker than expected.
Switzerland: Höfert (UBS) fears a relapse of the economy in the second half of 2010.
England: rising less than expected number of unemployment

Today:



Rates in Asia and Indices:
EURUSD: 1.4968 - 1.4920.
USDCHF: 1.0153 - 1.0118.
EURUSD: 1.6132 - 1.5973.
EURJPY: 133.92 - 133.33.
USDJPY: 89.65 - 89.27.
Dow Jones: 10'015 +1.47%.
NASDAQ: 2'172 +1.51%
S & P 500: 1'092 +1.75%
Nikkei: 10'077 +0.01%.
Shanghai 2'987 +0.57%
Gold: $1'065.
Crude oil: $75.91.
 
Comments:

The greenback continues its descent into hell; it fell to the lowest in fourteen months against the Euro and a basket of currencies. The US Dollar is now regarded as the Japanese Yen as refinancing currency, the solid results from JPMorgan, increased stocks and raw materials are factors that favor a resumption of economic recovery for investors to purchase "carry trade". The currency Australian dollar and New Zealand Dollar are soaring, while the US Dollar and Japanese Yen are lagging behind.

The minutes of the FOMC meeting on 22nd and 23rd September also weighed on the Dollar, the Fed has raised the possibility of an increased of acquisitions of assets, implying that US interest rates do not go back anytime soon, which weighs heavily on the Dollar.

Picture of the day: too many dollars flooding the market.



Good day.

Nicolas Longchamp
RTFX Ltd
Head Office
The Cornerstone Complex, 16th September Square | Mosta MST 1180 | Malta
Tel:  +356 23 31 00 00
Fax: +356 21 41 24 58
Web: www.rtfx.com

This message and any attachments (the "message") are intended solely for the addressees and are confidential. If you receive this message in error, please delete it and immediately notify the sender. Any use not in accordance with its purpose, any dissemination or disclosure, either whole or partial, is prohibited except with formal approval. The internet cannot guarantee the integrity of this message. RTFX Ltd (and its subsidiaries) shall (will) not therefore be liable for the message if modified. Do not print this message unless it is necessary, consider the environment. RTFX Ltd holds a Category 3 license issued by the Malta Financial Services Authority.