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Friday, October 7, 2011

DailyFX - Forex Market News

DailyFX - Forex Market News

FOREX: US Dollar May Rise Anew on Hints US Jobs Data to Disappoint

Posted: 07 Oct 2011 12:16 AM PDT

The safe-haven US Dollar may resume its advance after a three-day correction lower amid hints that September’s closely-watched jobs report will disappoint.

Currencies Poised for Intraday Consolidation Ahead of US NFPs

Posted: 06 Oct 2011 11:03 PM PDT

Friday’s session of trade is expected to be mostly quiet in Europe as market participants take time to absorb the latest central bank decisions and anticipate the upcoming US employment report…

Crude Oil, Gold and Silver Prices Set Sights on US Employment Data

Posted: 06 Oct 2011 09:46 PM PDT

Crude oil is set to follow the S&P 500 while gold looks to the US Dollar as the transmission mechanism for risk trends as the US jobs report looms ahead.

Dollar Breaks Critical Support, Focus Returns to Risk Ahead of NFPs

Posted: 06 Oct 2011 06:41 PM PDT

The standard-bearers for sentiment improved through Thursday’s close despite a notable deterioration in the European financial situation. Regardless, an advance from both our favored gauge for risk appetite (S&P 500) and the greenback’s primary counterpart (the Euro); there was enough pressure on the extreme safe haven to push it back below the same key support that had stood as resistance through the final weeks of September.

Dow Surges as US Dollar Slides Ahead of NFPs- Index Holds Key Support

Posted: 06 Oct 2011 02:34 PM PDT

The greenback fell for a third consecutive session in North American trade with the Dow Jones FXCM Dollar Index (Ticker: USDollar) declining by 0.44%. All eyes now turn to tomorrow’s key employment data as the fate of the dollar hangs in the balance.

EUR/USD: Trading the U.S. Non-Farm Payrolls Report

Posted: 06 Oct 2011 12:58 PM PDT

Although U.S. Non-Farm Payrolls are expected to increase in September, the protracted recovery in the labor market may weigh on the greenback as it dampens the outlook for future growth.

Forex Technical and Fundamental Forecasts for October

Posted: 06 Oct 2011 10:59 AM PDT

USDCAD: US Dollar Canadian Dollar Exchange Rate Forecast

Posted: 06 Oct 2011 10:55 AM PDT

Inability to break to fresh record lows below 0.9000 in 2011 has opened the door for a more meaningful bullish reversal, with the market now carving out what we believe to be a significant longer-term base. From here, any setbacks should be well supported by parity, with a fresh higher low sought out by the psychological barrier ahead of the next major upside extension towards 1.1000-1.1500 further up.

USDCHF: US Dollar Swiss Franc Exchange Rate Forecast

Posted: 06 Oct 2011 10:53 AM PDT

We have seen a very impressive recovery out from the record lows just shy of 0.7000 over the past several weeks, with the price racing back towards critical psychological barriers at parity.

GBPUSD: British Pound US Dollar Exchange Rate Forecast

Posted: 06 Oct 2011 10:46 AM PDT

The longer-term chart shows the market locked in a broader consolidation largely defined between the 1.4000-1.7000 area.

USDJPY: US Dollar Japanese Yen Exchange Rate Forecast

Posted: 06 Oct 2011 10:43 AM PDT

Has been locked in an intense consolidation in the 76.00’s over the past several weeks, since breaking to fresh record lows by 75.95, and while we would not rule out the possibility for a continuation of the downtrend, any additional declines are seen limited.

EURUSD: Euro US Dollar Exchange Rate Forecast

Posted: 06 Oct 2011 10:40 AM PDT

The market is in the process of carving out a major lower top below 1.5000 with fresh downside projected over the coming weeks and months back towards the 1.2000 area. In the interim, any rallies should be well capped ahead of 1.4000, while back below 1.3000 will accelerate declines.

NZDUSD: New Zealand Dollar US Dollar Exchange Rate Forecast

Posted: 06 Oct 2011 10:37 AM PDT

The market is finally confirming the formation of a major top by post float record highs set back in the summer at 0.8845, with the latest break back below 0.8000 confirming our bearish outlook and opening the door for more significant declines going forward. From here we look for any rallies to be well capped below 0.8000 on a weekly close basis, with a break below 0.7100 to accelerate declines and expose 0.6600 further down.

AUDUSD: Australian Dollar US Dollar Exchange Rate Forecast

Posted: 06 Oct 2011 10:33 AM PDT

The market is finally confirming the formation of a major top by post float record highs set back in the summer at 1.1080, with the latest break back below parity confirming our bearish outlook and opening the door for more significant declines going forward. From here we look for any rallies to be well capped below parity on a weekly close basis, with a break below 0.9000 to accelerate declines and expose 0.8500 further down.

USD To Consolidate Ahead Of NFPs, Euro Outlook Remains Bearish

Posted: 06 Oct 2011 10:00 AM PDT

The greenback continued to lose ground on Thursday and the reserve currency may trade heavy throughout the North American trade as market participants increase their appetite for risk.

Guest Commentary: Gold & Silver Daily Outlook 10.06.2011

Posted: 06 Oct 2011 07:56 AM PDT

Gold and silver continue to seek direction and ended yesterday moderately rising. The continuous rally the U.S. and Europe stock markets were probably driven from the recent bailout plans in the European markets that may have curbed the gains of gold and silver.

Forex: Euro Struggles Even As ECB Holds, Sterling Finds Support

Posted: 06 Oct 2011 07:00 AM PDT

A rise in market sentiment helped to prop up the Euro on Thursday, but the near-term outlook for the single-currency remains bearish as the European Central Bank adopts a dovish outlook for monetary policy.

Euro, Sterling Face Downside Pressure Following Rate Decisions

Posted: 06 Oct 2011 06:45 AM PDT

Both the British Pound and Euro fell against the other major currencies following their respective central bank rate decisions, as the Bank of England announced further easing measures while the European Central Bank noted ‘intensified risks’ facing Europe.
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Posted by IEmail at 2:02 AM

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