DailyFX - Forex Market News

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• FOREX: Dollar, Yen Rise as EU Wrangling Stokes Risk Aversion
• Dollar Recovers Early Losses but Doesn’t Offer Trend as Risk Mixed
• Pending US Dollar Scalp Setups- EUR, GBP, CAD Levels to Watch
• GBP/USD: Trading the U.K. Retail Sales Report
• USD Rebound To Gather Pace, Sterling Outlook Remains Bearish
• Guest Commentary: Oil Prices Daily Outlook 10.19.2011
• Optimism Over Potential European Plan Weighs on Safe Havens
• Forex: Euro, British Pound Strength To Be Short-Lived
• Crude Oil Gains Fragile as S&P 500 Futures Positioning Lacks Conviction

FOREX: Dollar, Yen Rise as EU Wrangling Stokes Risk Aversion Posted: 20 Oct 2011 12:49 AM PDT The safe-haven US Dollar and Japanese Yen rose amid rumors of infighting among EU policymakers but S&P 500 futures warn a reversal may be ahead.

Dollar Recovers Early Losses but Doesn’t Offer Trend as Risk Mixed Posted: 19 Oct 2011 06:26 PM PDT When trading ranges narrow but correlations are still very strong, volatility within the constricting channels very often increases. This is both the situation we are facing with the US dollar and the broader capital markets. Looking across the dollar-based majors, we would note that there were no efforts to break from the congestion that has set in over the past week.

Pending US Dollar Scalp Setups- EUR, GBP, CAD Levels to Watch Posted: 19 Oct 2011 02:27 PM PDT Dollar price action has largely reflected broader market sentiment over the past few sessions, with ideal scalp setups identified in key dollar-based pairs. These pending setups offer short-term scalp opportunities to harness the recent surge in volatility.

GBP/USD: Trading the U.K. Retail Sales Report Posted: 19 Oct 2011 12:40 PM PDT A rebound in U.K. retail sales may help to prop up the British Pound over the next 24-hours of trading, and the GBP/USD may continue to retrace the sharp decline from the previous month as the outlook for growth improves.

USD Rebound To Gather Pace, Sterling Outlook Remains Bearish Posted: 19 Oct 2011 08:40 AM PDT The greenback continued to lose ground against its major counterparts following the rise in risk appetite, but we may see a shift in market sentiment later today should the Fed cast a dour outlook for the world’s largest economy.

Guest Commentary: Oil Prices Daily Outlook 10.19.2011 Posted: 19 Oct 2011 08:17 AM PDT Oil prices changed direction again and bounced back from the falls they had recorded on Monday. The rally in the American and European stock markets may have contributed to this rally.

Optimism Over Potential European Plan Weighs on Safe Havens Posted: 19 Oct 2011 06:35 AM PDT The Japanese Yen, Swiss Franc and U.S. Dollar were among the worst performing currencies in the overnight session on misguided optimism that the Euro-zone’s problems would disappear after this weekend.

Forex: Euro, British Pound Strength To Be Short-Lived Posted: 19 Oct 2011 06:20 AM PDT Risk appetite firmed up on Wednesday on hopes that Europe will step up its effort to address the sovereign debt crisis, but the rise in trader sentiment is likely to be short-lived as the fundamental outlook for the world economy deteriorates.

Crude Oil Gains Fragile as S&P 500 Futures Positioning Lacks Conviction Posted: 19 Oct 2011 04:58 AM PDT Crude oil rose with risky assets amid rumors France and Germany agreed to expand the EFSF bailout fund but indecisive S&P 500 futures hint the rally is fragile.

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