DailyFX - Forex Market News

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• USD Graphic Rewind: Dollar Index Set to Test 2009 Lows by 74.00
• FOREX: Euro Vulnerable as Deadline for Spanish Bank Reform Looms Ahead
• Euro Declines Once Again Very Well Supported On Any Form of A Dip
• FOREX: Dollar Fends off Another Risk-Led Tumble, Gains Footing on Beige Book and Budget Proposal
• Crude Oil Selling Likely to Resume, Gold to Find Support on Inflation Bets
• EUR/USD: Trading the Euro-Zone Consumer Price Report
• Guest Commentary: The Symptoms of Nuclear Hysteria
• Forex: Euro Eyes 2010 High On Interest Rate Expectations, U.S. Dollar Remains Battered

USD Graphic Rewind: Dollar Index Set to Test 2009 Lows by 74.00 Posted: The beleaguered buck managed to notch up a day of modest gains Wednesday but this bout of strength has been hit by more selling pressure….

FOREX: Euro Vulnerable as Deadline for Spanish Bank Reform Looms Ahead Posted: The Euro may come under pressure as the Bank of Spain faces a deadline to issue a plan to restructure its ailing savings banks, the key to the country’s debt woes.

Euro Declines Once Again Very Well Supported On Any Form of A Dip Posted: Any setbacks in the Euro over the past few sessions have now been nearly negated, with market participants once again eager to take advantage of the dips as an opportunity to build into existing longs. A break above 1.4525 will confirm fresh upside…

FOREX: Dollar Fends off Another Risk-Led Tumble, Gains Footing on Beige Book and Budget Proposal Posted: The dollar made little progress on a trade weighted basis Wednesday; but the fundamentals set the ground work for what could be a more convincing and solid recovery later down the line. Against its benchmark counterparts, the greenback managed a modest advance against the euro and Japanese yen; but it lost ground once again to its British pound and commodity currency counterparts.

Crude Oil Selling Likely to Resume, Gold to Find Support on Inflation Bets Posted: The bounce in oil prices appears corrective, with selling likely to resume anew, but gold and silver prices may remain supported amid rising inflation expectations.

EUR/USD: Trading the Euro-Zone Consumer Price Report Posted: Consumer prices in the Euro-Zone are forecasted to increase at an annualized pace of 2.6% in March, which would be the fastest pace of growth since October 2008, and the higher rate of inflation is likely to spur a bullish reaction in the single-currency as the central bank adopts a hawkish outlook for monetary policy.

Guest Commentary: The Symptoms of Nuclear Hysteria Posted: A partial meltdown at Japan's Fukushima Dai-ichi plant as a result of the largest recorded earthquake to hit Japan has set off a renewed bout of nuclear hysteria. Uranium stocks are selling off, foreign ports are being closed to Japanese goods, and iodine tablets are selling out along the West Coast.

Forex: Euro Eyes 2010 High On Interest Rate Expectations, U.S. Dollar Remains Battered Posted: Speculation for higher borrowing costs in Euro-Zone pushed the EUR/USD to a fresh yearly high of 1.4519, and the exchange rate looks poised to test the 2010 high at 1.4578 as it maintains the upward trend dating back to January.

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