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Wednesday, June 1, 2011

DailyFX - Forex Market News

DailyFX - Forex Market News

FOREX: Pound Vulnerable as PMI Figures Threaten Rates Outlook

Posted:

The British Pound appears vulnerable to selling pressure ahead of data set to show the UK manufacturing sector continues to slow, weighing on interest rate hike bets.

USD Graphic Rewind: USD Sentiment Finely Balanced; Watching Euro for Further Cues.

Posted:

Ausssie Back on Offensive As Treasurer Swan Calls for Strong Q2 Rebound

Posted:

Currencies are broadly well bid into Wednesday with the Australian Dollar easily leading the charge and the Euro contemplating a move towards 1.4500....

FOREX: Dollar Stumbles against the Euro but Holds Firm Elsewhere Despite Risk Trends, Data

Posted:

We need to take a critical look at the performance of the US dollar. On the trade-weighted standard, we see that the benchmark currency closed at a fresh three-week low. However, with the Dow Jones FXCM Dollar Index, the benchmark seems to have shown a solid recovery from intraday losses.

Greenback Pares Losses But Remains on the Defensive

Posted:

The dollar was able to climb back from losses seen after a string of weaker than expected data prints this morning. However the greenback is expected to remain on the defensive with traders continuing to eye the week’s economic docket.

CAD/JPY Scalp- Limited Event Risk

Posted:

The CAD/JPY pair continues to bottleneck into a descending wedge formation that presents a unique scalping opportunity for intra-day traders. With limited event risk on the horizon, the scalp may continue to play out of the next few days.

AUD/USD: Trading Australia’s 1Q GDP Report

Posted:

Economic activity in Australia is expected to contract 1.1% in the first-quarter following the slew of natural disasters from earlier this year, and a dismal GDP report is likely to weigh on the exchange rate as the central bank maintains a cautious outlook for the region.

Dow Jones FXCM Dollar Index Correlation to DJIA at Record Strength

Posted:

The correlation between the Dow Jones FXCM Dollar Index and the Dow Jones Industrial Average trades near record strength, underlining the USD’s sensitivity to broader financial market moves. The Dollar Index represents a strong proxy for trading the Dow and also crude oil and gold prices.

U.S. Dollar Index Rebound Overbought, Consolidation Ahead

Posted:

The Dow Jones-FXCM U.S. dollar index bounced back from a low of 9508.86 on Tuesday, but the greenback may continue to consolidate in the days ahead as it breaks out of the upward trending channel from earlier this month.

FX Headlines: Loonie Jumps Following Bank of Canada Rate Decision

Posted:

The Bank of Canada held its key interest rate on hold at 1.00 percent, noting that any further rate increases would fall in line with keeping prices pressures “consistent” at the “2 percent inflation target.” Nonetheless, Governor Mark Carney noted that some stimulus could be “eventually withdrawn,” sending the Loonie higher against all the other major currencies following the release.

Forex: Euro Rallies As EU Considers Second Bailout For Greece, U.S. Dollar Mixed Ahead Of North American Trade

Posted:

Talks of a second bailout for Greece push the Euro to 1.4423 on Tuesday, and the rebound in the single-currency may gather pace in the following month as the European Central Bank maintains a hawkish outlook for monetary policy.
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Posted by IEmail at 2:04 AM

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