DailyFX - Forex Market News

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• FOREX: Major Currencies Consolidate, Dollar to Resume Rally Next Week
• Softer US Economic Data Results in Short-Term Setback for Buck
• FOREX: US Dollar Risks to Downside on Disappointing Data, S&P 500 Rallies
• Short-Term Dollar Reversal Imminent- Index Approaching Key Support
• USD/CAD: Trading the Canadian Retail Sales Report
• Guest Commentary: Gold & Silver Daily Outlook 05.19.2011
• U.S. Dollar Index Maintains Trend, Continues To Eye 9800
• Guest Commentary: Weekly Unemployment Claims - A Decline of 29,000; 4-Week Moving Average Up 1,250
• Forex: British Pound Gives Back, U.S. Dollar To Benefit From Risk Aversion
• Crude Oil, Gold and Silver Set to Follow S&P 500 Higher
• Gold - FOREX Correlations Weaken as Spooked Investors Exit Metals

FOREX: Major Currencies Consolidate, Dollar to Resume Rally Next Week Posted: Currency markets consolidated in quiet ranges overnight and more of the same looks likely through the week-end, with the US Dollar rally returning next week.

Softer US Economic Data Results in Short-Term Setback for Buck Posted: A round of softer data out of the US on Thursday has driven the latest round of Greenback selling. However, the Dollar may not be as exposed this time around, with uncertainty in the broader global macro markets also concerning...

FOREX: US Dollar Risks to Downside on Disappointing Data, S&P 500 Rallies Posted: The US Dollar was weaker across the board at the close of New York trade today after a negative trifecta of US economic data fueled concerns about a slowdown in global growth.The Euro was a top performer in a quiet day across currency markets, squeaking out a modest gain as the New York Stock Exchange saw its sixth-lowest daily volume on the year.

Short-Term Dollar Reversal Imminent- Index Approaching Key Support Posted: The dollar fell against all of its major counterparts today as a string of weaker than expected economic data fueled speculation that the Fed may keep interest rates at record lows. Technical indicators suggest a reversal in the index is likely.

USD/CAD: Trading the Canadian Retail Sales Report Posted: Household spending in Canada is projected to increase another 0.9% in March, and the ongoing expansion in private consumption should spark a bullish reaction in the local currency as the recovery gathers pace.

Guest Commentary: Gold & Silver Daily Outlook 05.19.2011 Posted: Gold and silver bounced back and rose sharply yesterday; they are currently traded with moderate changes. Let's examine the precious metal market and the news related to it for today.

U.S. Dollar Index Maintains Trend, Continues To Eye 9800 Posted: The USD regained its footing during the North American trade, with the Dow Jones-FXCM index paring the overnight decline to 9628.65, and the rebound should gather pace as risk aversion flows back into the currency market.

Guest Commentary: Weekly Unemployment Claims - A Decline of 29,000; 4-Week Moving Average Up 1,250 Posted: The Unemployment Insurance Weekly Claims Report was released this morning for last week. Claims fell 29,000 from a 4,000 upward revision of the previous week. Here is the official statement from the Department of Labor:

Forex: British Pound Gives Back, U.S. Dollar To Benefit From Risk Aversion Posted: The rebound in the British Pound was certainly short-lived and the sterling may continue to lose ground throughout the North American trade as currency traders scale back their appetite for risk.

Crude Oil, Gold and Silver Set to Follow S&P 500 Higher Posted: Crude oil, gold and silver remain firmly anchored to overall risk trends, hinting prices will rise as S&P 500 stock index futures point to an up day on Wall Street.

Gold - FOREX Correlations Weaken as Spooked Investors Exit Metals Posted:

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