DailyFX - Forex Market News

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• Forex Weekly Trading Forecast - 04.11.2011
• Canadian Dollar Run Supported by Commodities, Rising Yield Forecast
• US Dollar Collapses into its Next Bear Leg, But Don’t Short Just Yet
• FOREX: Dollar Ends the Week by Hitting a Fresh 17-Month Low as Rate Expectations Stall
• Euro Rally Looks to Portugal Bailout Talks for Added Fuel
• New Zealand Dollar Hits Fresh Yearly High, Correction On Tap
• Gold Outlook Bullish on Inflation Concerns, Persisting Tensions in MeNa Region
• Japanese Yen Weakness To Persist As Risk For Repatriation Subside
• British Pound Outlook Bullish as Rate Expectations Rise
• Rising Prices in Focus with Inflation Data, Central Bank Decision Ahead
• NZDUSD: New Zealand Dollar US Dollar Exchange Rate Forecast
• AUDUSD: Australian Dollar US Dollar Exchange Rate Forecast
• USDCAD: US Dollar Canadian Dollar Exchange Rate Forecast
• USDCHF: US Dollar Swiss Franc Exchange Rate Forecast
• GBPUSD: British Pound US Dollar Exchange Rate Forecast
• USDJPY: US Dollar Japanese Yen Exchange Rate Forecast
• Monthly Currency Forecast
• EURUSD: Euro US Dollar Exchange Rate Forecast
• Guest Commentary: Australia: Danger Lies Ahead – Part I
• FX Headlines: Euro Climbs Higher on Prospect of Further Rate Hikes
• Forex: Euro Hits Fresh Yearly High, British Pound To Face Range-Bound Price Action
• Daily Sound Bites: Portugal Related Talk Dominates Proceedings
• FOREX: Dollar, Yen to Extend Losses as Risk Appetite Swells into Week-End

Forex Weekly Trading Forecast - 04.11.2011 Posted: US Dollar Collapses into its Next Bear Leg, But Don’t Short Just Yet Euro Rally Looks to Portugal Bailout Talks for Added Fuel Japanese Yen Weakness To Persist As Risk For Repatriation Subside British Pound Outlook Bullish as Rate Expectations Rise Canadian Dollar Run Supported by Commodities, Rising Yield Forecast Australian Dollar: Testing the Limits of Irrational Exuberance New Zealand Dollar Hits Fresh Yearly High, Correction On Tap Gold Outlook Bullish on Inflation, Persisting Tensions in MeNa Region

Canadian Dollar Run Supported by Commodities, Rising Yield Forecast Posted: The Canadian dollar maintained its strength through this past week; but it would struggle to establish bullish progress outside of its connection to the greenback. Considering the US currency was one of the weakest performers through the period, this doesn’t present a good assessment of the loonie’s fundamental bearings heading into the new trading week. Looking at the fundamental positioning of the currency, it is difficult to establish a foundation for significant gains or losses. Nonetheless, we will keep an eye on scheduled event risk, risk appetite trends and interest rate expectations to gauge not only the direction but intensity of the currency’s bearings going forward.

US Dollar Collapses into its Next Bear Leg, But Don’t Short Just Yet Posted: It was already difficult to be a dollar bull – only the most speculative traders and those purely following fundamentals seemed to be left in this quickly dwindling camp. And, with this past week’s extraordinary tumble into the drain of liquidity synonymous with the weekend, a concerted effort was made to flush those hold outs by driving the Dollar Index to its lowest level in 17-months. However, traders that see this as a cue to take a new short on the greenback should step back and reconsider the fundamentals behind this move. A review of those factors that have pushed the currency to its current lows and the balance of risks going forward tells us that the risk of a (bullish) reversal is higher than a perfunctory analysis would suggest.

FOREX: Dollar Ends the Week by Hitting a Fresh 17-Month Low as Rate Expectations Stall Posted: Whatever nascent, fundamental strength that had been building up behind the dollar over the past few weeks was lost this past Friday in a market-wide tumble. Whether it is against its comparable European counterparts or high-yield peers; the greenback has endured steady losses for a number of weeks; but the end to this past week was particularly remarkable for the momentum and historical precedence it set.

Euro Rally Looks to Portugal Bailout Talks for Added Fuel Posted:

New Zealand Dollar Hits Fresh Yearly High, Correction On Tap Posted:

Gold Outlook Bullish on Inflation Concerns, Persisting Tensions in MeNa Region Posted:

Japanese Yen Weakness To Persist As Risk For Repatriation Subside Posted:

British Pound Outlook Bullish as Rate Expectations Rise Posted:

Rising Prices in Focus with Inflation Data, Central Bank Decision Ahead Posted: Following the European Central Bank rate decision this past week, which marked the beginning of a shift back towards ‘normal’ monetary policies, it is clear that, given President Jean-Claude Trichet’s rhetoric, inflation was the driving factor behind the rate hike.

NZDUSD: New Zealand Dollar US Dollar Exchange Rate Forecast Posted:

AUDUSD: Australian Dollar US Dollar Exchange Rate Forecast Posted:

USDCAD: US Dollar Canadian Dollar Exchange Rate Forecast Posted:

USDCHF: US Dollar Swiss Franc Exchange Rate Forecast Posted:

GBPUSD: British Pound US Dollar Exchange Rate Forecast Posted:

USDJPY: US Dollar Japanese Yen Exchange Rate Forecast Posted:

Monthly Currency Forecast Posted: Our Forex Monthly Technical and Fundamental Outlook report examines long-term forecasts for major currencies, exploring key themes ranging from chart patterns, fundamental valuations, and interest rate forecasts. Visit any of the links above to see complete Fundamental, Technical, and Valuation forecasts for major forex pairs. EURUSD: Euro US Dollar Exchange Rate Forecast USDJPY: US Dollar Japanese Yen Exchange Rate Forecast GBPUSD: British Pound US Dollar Exchange Rate Forecast USDCHF: US Dollar Swiss Franc Exchange Rate Forecast USDCAD: US Dollar Canadian Dollar Exchange Rate Forecast AUDUSD: Australian Dollar US Dollar Exchange Rate Forecast NZDUSD: New Zealand Dollar US Dollar Exchange Rate Forecast Written by Jamie Saettele, CMT, Sr. Technical Strategist, and Ilya Spivak, Currency Strategist for DailyFX.com We always want to hear your feedback on DailyFX articles. Want more content like this? Less? What do you want to see? Send e-mails to drodriguez@dailyfx.com, ispivak@dailyfx.com and jkruger@dailyfx.com

EURUSD: Euro US Dollar Exchange Rate Forecast Posted:

Guest Commentary: Australia: Danger Lies Ahead – Part I Posted: Traders, regardless of the time-frame they operate in, need to be cognizant of the big picture and the macro themes which dominate the global marketplace. I find this to be an especially important to keep in mind after sustained trends have been in place for some time and seem all but a given to continue unabated. There are multiple threats facing global financial markets for the remainder of 2011 into 2012, here are a few to consider.

FX Headlines: Euro Climbs Higher on Prospect of Further Rate Hikes Posted: The Euro was the strongest major currency headed into the North American session, as German data showed surging exports, suggesting that the European Central Bank could tighten rates within the next few months in order to temper demand and ease inflationary pressures.

Forex: Euro Hits Fresh Yearly High, British Pound To Face Range-Bound Price Action Posted: The Euro rallied to a fresh yearly high of 1.4420 on Friday as the economic docket reinforced an improved outlook for future growth, and the single-currency may continue to appreciate over the near-term as the European Central Bank shows an increased willingness to tighten monetary policy further this year.

Daily Sound Bites: Portugal Related Talk Dominates Proceedings Posted: A selection of comments from early Friday….

FOREX: Dollar, Yen to Extend Losses as Risk Appetite Swells into Week-End Posted: The safety-linked US Dollar and Japanese Yen are set to extend losses against their major counterparts as risk appetite swellsinto the end of the trading week.

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