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USD Index To Resume Upward Trend, Japanese Yen Weakness To Accelerate
DJ FXCM Dollar Index The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) is 0.40 percent higher from the open after moving 104 percent of its average true range, and the shift away from risk-taking behavior should prop up the reserve currency as renewed fears of a Greek default drags on trader sentiment. However, as the [...]
U.S. Dollar Momentum Builds as Greek Concerns Linger
Fundamental Headlines – Greek Bailout Wins Two Cheers from Wary Investors – Bloomberg – Obama Readies Plan to Cut Corporate Tax Rate – Bloomberg – Iran Defiant as U.N. Nuclear Talks Fail – Reuters – Fitch Downgrades Greece – WSJ – Despite Pact, Unease Lingers for Greece – WSJ European Session Summary The move to [...]
Guest Commentary: Gold & Silver Daily Outlook 02.22.2012
Gold and silver started off the week with very sharp gains. Yesterday’s gains were the sharpest this month (so far), which only goes to show how February is much less volatile than January.. Today, Euro Area Manufacturing PMI report will be published along with the Minutes of the last MPC Meeting, and the U.S. Existing [...]
Euro Setting Up For Major Decline, Sterling Poised For Correction
Talking Points Euro: Fitch Cuts Greece’s Credit Rating, Sees Default In ‘Near Term’ British Pound: U.K. Posts Budget Surplus, Remains Capped By 200-Day SMA U.S. Dollar: Index To Consolidate, Fundaments To Improve Further Euro: Fitch Cuts Greece’s Credit Rating, Sees Default In ‘Near Term’ The Euro fell back from an overnight high of 1.3263 as [...]
Gold at Risk as Dollar Recovers, Crude Oil Supported by Iran Tensions
Talking Points Crude Oil Likely to Remain Well-Supported on Iran-Linked Tensions Gold, Silver Buoyed by Inflation Bets But US Dollar Gains May Weigh Copper Vulnerable as S&P 500 Futures Point Toward Risk Aversion Tensions between Western powers and Iran continue to push crude oil prices higher, with the WTI contract touching the highest since May [...]
Yen Selling Continues, Euro May Rise on PMI, Pound Eyes BOE Minutes
Talking Points Japanese Yen Selloff Continues as US Treasury Bond Yields Rise Euro May See Brief Gains as PMI Data Shows Mild Improvement British Pound Focused on BOE Minutes as Traders Shape QE Bets Major currencies stand little changed against the US Dollar in late Asian trade, with markets apparently taking a breather after yesterday’s [...]
Greek Saga and Uncertianty Continue; Yen Emerges as Major Story
Greece agreement out of the way but saga still ongoing UK Telegraph highlights some of the risks ahead Yen emerging as the major story amidst Eurozone mess USD/JPY breaks back above 80.00 for first time in 6 months Daily RSI at highest level in over 10 years The fallout from the latest Greece agreement has [...]
Euro: Why is the Market So Reserved after Greece’s Bailout?
Dollar Higher on a Day of Fundamental Relief… Euro: Why is the Market So Reserved after Greece’s Bailout? British Pound Slides Against Euro, Dollar, Yen Despite Four-Year High Surplus Japanese Yen Traders Hold Breath for Possible Risk Aversion Swell Australian Dollar Sliding Across the Board as Neutral RBA, Risk Off Weigh Canadian Dollar Decline Deviates [...]
GBPUSD_Trading_the_Bank_of_England_Minutes
Trading the News: Bank of England Minutes What’s Expected: Time of release: 02/22/2012 9:30 GMT, 4:30 EST Primary Pair Impact: GBPUSD Expected: – Previous: – DailyFX Forecast: – Why Is This Event Important: The Bank of England Minutes may spur a bullish reaction in the British Pound as we expect the central bank to soften [...]
Guest Commentary: UK Housing Recovery Exclusive to London
The UK suffered from a boom and bust of housing bubble, similar to the US, Ireland, Spain and many other countries. The housing sector has shown signs of recovery. This is seen in the Construction PMI and also in house prices. But there is a growing gap between London and all the rest. Rightmove is [...]