DailyFX - Forex Market News

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• FOREX: British Pound Gains Ahead of CPI Release. Will it Last?
• USD Graphic Rewind: Dollar Index Consolidates Near 2010 Lows as Support Turns to Resistance
• Oil, Gold Eye EU Summit and US Data as Risk Appetite Searches for Direction
• EU Ministers Set to Reconvene; Aussie Minutes Fail to Signal Immidiate Hike
• RBA Minutes Indicate Higher Rates Likely "At Some Point", Monitoring Possible Uneven Recovery
• FOREX: US Dollar: Dollar to See Volatility on Housing data, FOMC in Days Ahead
• Equally Weighted Dollar Index Eases on Euro
• GBP/USD: Trading the U.K. Consumer Price Report
• Guest Commentary: 3 Reasons Silver Has Underperformed Gold During May
• U.S. Dollar Weakness To Be Short-Lived On Oversold Signal
• US Dollar Volatility Favors Breakout Strategy Trading in Week Ahead
• Forex: Euro To Face Increased Volatility As EU Finance Ministers Convene, U.S. Dollar Price Action Remains Mixed

FOREX: British Pound Gains Ahead of CPI Release. Will it Last? Posted: The British Pound advanced ahead of a report expected to show inflation accelerated in April, but will the result finally spur the Bank of England to raise interest rates?

USD Graphic Rewind: Dollar Index Consolidates Near 2010 Lows as Support Turns to Resistance Posted: The greenback is in consolidation territory ahead of fresh upside gains which should take the index above 76.00 and on higher….

Oil, Gold Eye EU Summit and US Data as Risk Appetite Searches for Direction Posted: Oil and gold prices continue to follow the path of underling risk appetite, putting the spotlight on the EU finance ministers’ summit and a batch of US economic data.

EU Ministers Set to Reconvene; Aussie Minutes Fail to Signal Immidiate Hike Posted: Currencies are mostly consolidating in the early week and we are still waiting for a catalyst to spark the next round of volatility...

RBA Minutes Indicate Higher Rates Likely "At Some Point", Monitoring Possible Uneven Recovery Posted: The Reserve Bank of Australia’s May Minutes indicate inflation risks moving to the upside, but concerned some sectors of economy growing slower than others, hindering recovery.

FOREX: US Dollar: Dollar to See Volatility on Housing data, FOMC in Days Ahead Posted: The US Dollar started off the week on a softer note as euro and the Swissie advanced throughout the US session. Disappointing economic data released this morning showed Empire manufacturing slipping to 11.88, missing expectations for a read of 19.55.

Equally Weighted Dollar Index Eases on Euro Posted: The Dow Jones FXCM dollar index was softer at the close of North American trade today amid a quiet session that saw equities slide on subdued risk appetite.

GBP/USD: Trading the U.K. Consumer Price Report Posted: The small rebound in the GBP/USD may gather pace over the next 24-hours of trading as the headline reading for U.K. inflation is forecasted to increase at an annualized rate of 4.1% in April, and the faster pace of price growth could lead the exchange rate to work its way back towards 1.6400 as investors speculate the Bank of England to start normalizing monetary policy in the second-half of 2011.

Guest Commentary: 3 Reasons Silver Has Underperformed Gold During May Posted: During March and April silver has outperformed gold price by a landslide, and yet during May (so far) it seems that the tables have turned and gold price is outperforming silver price. Don't get me wrong, both metals have declined during May so far, but silver fell very precipitately compared to gold.

U.S. Dollar Weakness To Be Short-Lived On Oversold Signal Posted: The USD struggled to hold its ground on Monday, with the Dow Jones-FXCM U.S. dollar index paring the overnight advance to 9695.68, and the reserve currency may face additional headwinds throughout the North American trade as currency traders increase their appetite for yields.

US Dollar Volatility Favors Breakout Strategy Trading in Week Ahead Posted: Continued gains in the US Dollar and FX Options market volatility expectations produce prime conditions for breakout-style trading systems in the week ahead.

Forex: Euro To Face Increased Volatility As EU Finance Ministers Convene, U.S. Dollar Price Action Remains Mixed Posted: Currency traders showed a fairly muted reaction to the Euro-Zone consumer price report even as the core rate of inflation topped forecasts in April, and the bullish sentiment underlying the single-currency may continue to deteriorate over the near-term as the central bank softens its hawkish outlook for inflation.

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