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Friday, April 22, 2011

DailyFX - Forex Market News

DailyFX - Forex Market News


FOREX: Aussie and Yen Sold Overnight, Knee-Jerk Price Action Likely Ahead

Posted:

Choppy price action is likely ahead as liquidity thins out ahead of the Easter holiday across financial markets. The Aussie and Yen underperformed overnight.

USD Graphic Rewind: Dollar Index Touches Lowest Levels Since August 2008

Posted:

The greenback got pounded for a third day on Thursday but some respite may be coming today as markets stay quiet for Good Friday….

Razor Thin Holiday Conditions Should Keep Things Quiet on Friday

Posted:

The US Dollar is set to end the week on the defensive but liquid thin holiday conditions should help to prevent any additional meaningful declines on Friday…

FOREX: Dollar Extends its Losses but Momentum Dries Up Ahead of Holiday

Posted:

For most intents and purposes, liquidity has already drained for the week with Thursday’s close. Friday is Good Friday market holiday recognized by US, European, Australian and New Zealand markets. As usual, the lack of market participation will dampen efforts to develop meaningful trends or reversal and is very likely to generate erratic levels of volatility.

Oil Set to Test Key Resistance, Gold May Turn Choppy in Thin Holiday Trade

Posted:

Crude oil is poised to test a key technical resistance level next week while gold prices may turn choppy as liquidity thins out ahead of the Easter holiday.

An Intraday EUR/GBP Ascending Channel is Creating Scalping Environment

Posted:

The EUR/GBP pair had been trending to the downside starting in the middle of January, though the trend was quickly bucked following commentary by the European Central Bank that interest rates are likely to rise as soon as their next meeting in April.

EUR/USD: Trading the U.S. Consumer Confidence Survey

Posted:

Household confidence in the world's largest economy is anticipated to gather pace in April, with market participants forecasting the Conference Board’s index to increase to 64.5 from 63.4 in the previous month, and a rebound in consumer sentiment should spark a bullish reaction in the U.S. dollar as it reinforces an improved outlook for private consumption.

Guest Commentary: Inflation Destroys Real Wages

Posted:

In the same vein as medieval physicians believed bloodletting would cure illness, modern snake-oil economists still perilously cling to their claim that rising wages and salaries are the cause of inflation.

Forex: British Pound Breaks Out, Euro Struggles To Hold Ground As ECB Softens Hawkish Tone

Posted:

The British Pound surged to a fresh yearly high of 1.6567 ahead of the holiday weekend as the economic docket reinforced an improved outlook for the U.K., and the exchange rate may continue to retrace the decline from back in 2009 as it breaks out of the narrow range from earlier this month.

FX Headlines: Unexpected Retail Sales Boost Rate Hike Expectations for BoE; Could Same Be in Store for BoC?

Posted:

Stronger-than-expected retail sales figures boosted the Pound against the Greenback ahead of the North American session; could similarly strong data out of Canada do the same for the Loonie going forward?
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