EUR/USD Performance Chart as at 3:30 a.m. Singapore time, 26/04/11

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HISTORICAL DETAILS 

% Change

1 Wk 0.60%

1 Month 2.67%

3 Months 7.00%

6 Months 4.71%

1 Year 8.49%

 

52 WEEK

High 1.4649

Low 1.1877

 

BLOOMBERG MEDIAN FORECASTS

Q2 2011 1.41

Q3 2011 1.38

Q4 2011 1.37

Q1 2011 1.35

 

DAILY DETAIL

The euro rose against the dollar today in a volatile - but illiquid - session with investors reluctant to make large bets in case the US Federal Reserve shows no sign of changing its easy monetary policy. With many markets closed for Easter and no major US economic reports on the calendar, the April 26-27 Federal Open Market Committee meeting will be the key event risk this week as traders try to gauge the direction of US policy. Market participants will look to the post-meeting news conference by Fed Chairman Ben Bernanke on Wednesday - the first regularly scheduled news briefing by a Fed chief in the US central bank's 97-year history - to see how the Fed plans to exit from its ultra-loose policy. If the Fed surprises the market and turns more hawkish it poses a risk to the sizable amount of dollar shorts in the market. Currency speculators pared bets against the US dollar for a fourth straight week, according to data from the Commodity Futures Trading Commission released Friday, but were still net short to the total of $24.36 billion. [1] Paolo Palazzi-Xirinachs, Chicago

 

Notes: Source: [1] Reuters (25 April 2011), [2] Bloomberg UK (25 April 2011), [3] Syndey Morning Herald (25 April 2011), [4] Wall Street Journal (25 April 2011). Chart data supplied by Bloomberg.