DailyFX - Forex Market News

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• FOREX: Dollar - Watch the S&P 500 Next Week, Not the April NFPs
• Euro Rally at Risk if the ECB Doesnt Maintain Risk Return Balance
• British Pound to Produce Nuanced Response to BoE Rate Decision
• Forex Weekly Trading Forecast 05.01.11
• US Dollar Recovery Hopes Hinge on Payrolls data, ECB Rate Decision
• Kiwi Strength to Continue as Traders Chase Yields
• Australian Dollar Rally To Accelerate On Higher Growth, RBA To Hold
• Canadian Dollar Bullish as 0.9000 Remains In Crosshairs
• Gold Hits Record Highs on Inflation Concerns, Dollar Weakness
• Japanese Yen At Risk As Speculation For Intervention Resurface
• Rate Decisions for RBA, BOE, ECB on Tap Ahead of U.S. Nonfarm Payrolls
• Dollar Index in Consolidation Ahead of the Weekend
• AUD/USD: Trading the Reserve Bank of Australia Interest Rate Decision
• U.S. Dollar To Face Additional Headwinds, Rebound To Be Short-Lived
• FX Headlines: Dollar Slide Marks Worst Month Since September
• Forex: U.S. Dollar Rebounds on Faster Wage Growth, Higher Consumption – All Eyes On ECB, BoE
• Guest Commentary: Gold & Silver Outlook 04.29.2011

FOREX: Dollar - Watch the S&P 500 Next Week, Not the April NFPs Posted: It was an appropriate way to end the week and month. The tattered US dollar slid to its lowest level on a trade-weighted basis since July 30th, 2008 – fully erasing the safe haven premium the currency had built up through the collapse of the housing crisis and the subsequent global financial crisis that followed.

Euro Rally at Risk if the ECB Doesnt Maintain Risk Return Balance Posted: It is difficult to separate the euro’s strength from the dollar’s weakness. Considering EURUSD is the most liquid currency pair (by a wide margin), the steady pressure on the greenback is a natural source of strength for the European currency. However, looking across the euro crosses, we still see much of the same thing –a stable or appreciating currency. This strength is remarkable not just because of its pace; but also the fundamental headwinds it seems to be confidently traversing. Last week, there were a few notable economic releases on the docket (German retail sales and employment statistics among them); but nothing that meaningfully shifted the euro’s risk/reward balance. The outlook for yield potential is the euro’s greatest asset and the preoccupation with rates is the critical ingredient for further strength. Will the market keep its focus on the region’s higher returns; or will financial concerns bleed in and label the currency overbought?

British Pound to Produce Nuanced Response to BoE Rate Decision Posted:

Forex Weekly Trading Forecast 05.01.11 Posted: - US Dollar Recovery Hopes Hinge on Payrolls data, ECB Rate Decision - Euro Rally at Risk if the ECB Doesn’t Maintain Risk/Return Balance - Japanese Yen At Risk As Speculation For Intervention Resurface - British Pound to Produce Nuanced Response to BoE Rate Decision - Canadian Dollar Bullish as 0.9000 Remains In Crosshairs - Australian Dollar Rally To Accelerate On Higher Growth, RBA To Hold - Kiwi Strength to Continue As Traders Chase Yields - Gold Hits Record Highs on Inflation Concerns, Dollar Weakness

US Dollar Recovery Hopes Hinge on Payrolls data, ECB Rate Decision Posted: US Dollar Recovery Hopes Hinge on Payrolls data, ECB Rate Decision Fundamental Forecast for the US Dollar: Neutral US Dollar sinks as GDP misses expectations US Dollar short positions remain attractive as proxy for Crude Oil longs Central bank meetings and US Nonfarm Payrolls dominate event risk in week ahead

Kiwi Strength to Continue as Traders Chase Yields Posted:

Australian Dollar Rally To Accelerate On Higher Growth, RBA To Hold Posted:

Canadian Dollar Bullish as 0.9000 Remains In Crosshairs Posted:

Gold Hits Record Highs on Inflation Concerns, Dollar Weakness Posted:

Japanese Yen At Risk As Speculation For Intervention Resurface Posted:

Rate Decisions for RBA, BOE, ECB on Tap Ahead of U.S. Nonfarm Payrolls Posted: With little significant data out of the U.S. due next week until Friday’s labor market reading, price action will be sparked by a series of rate decisions abroad, as well as another reading of the robust Canadian labor market

Dollar Index in Consolidation Ahead of the Weekend Posted: The Greenback ended the week off 1.60% as traders relentlessly dumped the dollar in favor of higher yielding currencies like the Aussie, the Kiwi, and the Loonie. With debates raging over the Fed’s accommodative policies and deficits in the US, the dollar continued to slide into the close of April trade.

AUD/USD: Trading the Reserve Bank of Australia Interest Rate Decision Posted: Although the Reserve Bank of Australia is widely expected to hold the benchmark interest rate at 4.75% in May, the central bank may strike a hawkish tone for future policy as price pressures intensify, and the statement accompanying the rate decision could push the AUD/USD to a fresh record high as currency traders expect to see higher borrowing costs over the coming months.

U.S. Dollar To Face Additional Headwinds, Rebound To Be Short-Lived Posted: The U.S. dollar index pared the decline to 72.83 as the economic docket reinforced an improved outlook for growth and inflation, but the rebound in the greenback is likely to be short-lived as the central bank maintains a dovish tone for monetary policy.

FX Headlines: Dollar Slide Marks Worst Month Since September Posted: The struggles in the overnight session capped off what would be the worst month the U.S. Dollar has seen since September, as a struggling recovery in the United States has prompted the Federal Reserve to continue its ultra-loose monetary policy, putting further downside pressure on the Greenback.

Forex: U.S. Dollar Rebounds on Faster Wage Growth, Higher Consumption – All Eyes On ECB, BoE Posted: Higher inflation in Europe pushed the EUR/USD to a high of 1.4877 on Friday, and the single-currency may appreciate further ahead of the European Central Bank interest rate decision in May as investors anticipate to see higher borrowing costs over the coming months.

Guest Commentary: Gold & Silver Outlook 04.29.2011 Posted: Gold and silver prices continue to show strength as they currently increase. Ben Bernanke is set to deliver a speech today that might affect the perspective of traders and investors.

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