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Thursday, May 26, 2011

DailyFX - Forex Market News

DailyFX - Forex Market News


FOREX: Dollar Losses Ground as Stocks Rise Ahead of US GDP Revision

Posted:

The Dollar fell on waning safe-haven demand ahead of a report set to show the US economy grew faster than initially reported in the first quarter, boosting stocks.

USD Graphic Rewind: Outlook Remains Constructive for Dollar Index, For Now

Posted:

Crude Oil Positioned to Rise on US GDP Revision, Gold May Drop as Greece Fears Fade

Posted:

Oil prices are set to rise with the S&P 500 as first quarter US GDP figures are revised higher. Gold may fall as safety demand withers along with Greece default fears.

Currencies Attempting to Mount Comeback Against the Buck

Posted:

The US Dollar is in the process of facing its first real test following its recent resurgence and will have to reassert over the coming sessions to maintain its legitimacy....

FOREX: Dollar Faces Disappointing Durable Goods Report but Traders More Concerned with the Nikkei

Posted:

If we were to list the fundamental reasons the dollar should rise going forward, the list for active catalysts would prove relatively short. The capital markets are not rising out of a meaningful recovery in risk appetite. Rather, the weight of fear has simply eased off the investors’ shoulders somewhat.

Guest Commentary: Developing Excellence in Trading through Deep Practice

Posted:

Trading can be complicated to learn. Many traders spend hours every day on their charts, yet still find success elusive. Part of the difficulty can arise when little attention is paid to the mental side of the game. Developing a mental edge is just as important as possessing a technical trading edge. This brief discussion regarding these trading don’ts offers an introduction to trading psychology and some sensible solutions:

Dollar Hits Two Month Highs but Rate Outlook Still Critically Missing

Posted:

The US dollar has put in for substantial gains through May. From a multi-year low set on the first active trading day of the month, the Dow Jones FXCM US Dollar Index has rallied as much as 4.5 percent. The same strength is clearly visible across the individual majors as well – from the high yield units to financial troubled currencies to fellow safe havens.

EUR/USD: Trading the Preliminary U.S. 1Q GDP Report

Posted:

Economic activity in the U.S. is expected to increase an annualized 2.2% in the first-quarter amid an initial forecasts for a 1.8% expansion, and the upward revision in GDP could spur a bullish reaction in the U.S. dollar as the outlook for future growth improves.

Guest Commentary: Is the CFTC Actually Helping Traders?

Posted:

The new CFTC rules regarding forex imposed leverage limits that angered many traders. Nobody likes to be held back. But after 6 months, there’s evidence that these limits might actually be helping traders make more money.

US Dollar Index Eases Ahead of GDP Report- Channel Holds

Posted:

The greenback was modestly lower at the close of US trade today, with the Dow Jones FXCM Dollar index closing the session lower by a mere 0.02% ahead of 1Q GDP data tomorrow.

Guest Commentary: Forex Chart Patterns Currently In Play

Posted:

It has been a while since I posted on chart patterns. So here are a couple chart patterns in the forex market which can be watched and may provide good trading opportunities. I have elaborated on each to make it informative and educational as well.

EUR/CAD Intra-day Scalp- Range Trade

Posted:

The EUR/CAD presents short-term scalpers with an opportunity as the pair ranges between an encompassing symmetrical wedge formation. With daily relative strength holding mid-range at 43.8, the pair lacks coherent direction or momentum, providing traders with a range-bound setup.

U.S. Dollar Outlook Remains Bullish As Index Preserves Upward Trend

Posted:

The USD lost ground during the North American trade, with the Dow Jones-FXCM U.S. dollar index slipping to a fresh daily low of 9689.86, but the greenback looks as though it will consolidate over the next 24-hours of trading as it maintains the range from earlier this week.

Guest Commentary: EUR/USD 1.39 Target, USD/CAD Verging on Shift

Posted:

The Euro has a rough day on Friday, falling about 150 pips. The USD has had a healthy run-up, and by healthy I mean it has had pullbacks as expected but remains in the short-term uptrend.

FX Headlines: Risk Aversion Resumes as European Leaders Struggle to Find Solution for Greece

Posted:

The move to risk-aversion resumed in the overnight session Wednesday, with the Swiss Franc continuing what has been essentially an unimpeded battering against the Euro since the beginning of April.

Forex: U.S. Dollar To Benefit From Shift In Risk Sentiment, OECD Calls For BoE Rate Hike

Posted:

Currency traders showed a fairly muted reaction to the dismal U.S. Durable Goods Orders report, but the drop in private sector consumption appears to be weighing on market sentiment as it reinforces a weakened outlook for future growth.

Oil Finds Support but Durable Goods Data Threatens, Gold Outlook Clouded

Posted:

Oil prices have found support in recovering risk appetite but a soft US Durable Goods report may undermine gains. The near-term outlook for gold and silver has turned clouded.
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