DailyFX - Forex Market News

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• FOREX: US Dollar May Find Lifeline, NZ Dollar Sold on Soft CPI Data
• Euro Strength in Question At Current Levels; Looking to Fade
• Dollar Extends Longest Tumble in a Year, Conviction Still Lacking
• QE3 Talks to Accelerate Dollar Declines- Index Approaches Key Support
• Forex Strategy Outlook: We Like Japanese Yen and US Dollar Shorts
• Scalps to Watch- AUD, GBP, CAD Setups Await Shift in Sentiment
• USD/CAD: Trading the Bank of Canada Interest Rate Decision
• Guest Commentary: Gold & Silver Daily Outlook 10.24.2011
• USD To Consolidate Ahead Of EU Summit, Aussie To Face 3Q CPI
• Bank Research Consensus Weekly 10.24.11
• Forex: Euro To Weaken Further, Sterling Outlook Hinges On BoE
• Aussie Firms on Chinese Data; Euro Dragged Lower on Crisis Concerns
• Crude Oil Outlook Rests on Conflicted Risk Trends, Gold up On QE3 Talk
• FOREX: Euro at Risk as EU Debt Crisis Summit Fails to Impress

FOREX: US Dollar May Find Lifeline, NZ Dollar Sold on Soft CPI Data Posted: 24 Oct 2011 10:53 PM PDT The safe-haven US Dollar may find support as S&P 500 index futures point to renewed risk aversion. The New Zealand Dollar fell after a disappointing inflation report.

Euro Strength in Question At Current Levels; Looking to Fade Posted: 24 Oct 2011 10:38 PM PDT The latest rally in the Euro is questionable given that we saw no real Euro specific fundamentals behind the push higher in the single currency on Monday…

Dollar Extends Longest Tumble in a Year, Conviction Still Lacking Posted: 24 Oct 2011 06:54 PM PDT The markets left us with a cliff hanger Friday as the S&P 500 overtook resistance and EURUSD positioned itself for a meaningful bullish break of its own. As speculators take up the reins for a new trading week, we see that risk appetite has maintained its bullish bias. Yet we are still lacking for the kind of conviction that would normally be associated with the development of a new trend.

QE3 Talks to Accelerate Dollar Declines- Index Approaches Key Support Posted: 24 Oct 2011 04:15 PM PDT The Dow Jones FXCM Dollar Index(Ticker: USDollar) was off by 0.47% at the close of US trade as talks of further Fed easing and strong risk appetite saw investors jettison the greenback across the board.

Forex Strategy Outlook: We Like Japanese Yen and US Dollar Shorts Posted: 24 Oct 2011 02:15 PM PDT A bounce in volatility expectations suggests currencies could continue to see big moves in the week ahead. Recent trends towards US Dollar and Japanese Yen weakness seem likely to continue, and we will look for trades that sell USD and JPY.

Scalps to Watch- AUD, GBP, CAD Setups Await Shift in Sentiment Posted: 24 Oct 2011 01:02 PM PDT With investors eagerly anticipating developments out of Europe, we continue to monitor these updated setups until a draw down in risk appetite or further details regarding the European rescue plan confirms or negates our bias.

USD/CAD: Trading the Bank of Canada Interest Rate Decision Posted: 24 Oct 2011 12:15 PM PDT Although the Bank of Canada is widely expected to keep the benchmark interest rate on hold, the statement accompanying the rate decision is likely to heavily influence the USD/CAD as market participants weigh the outlook for monetary policy.

Guest Commentary: Gold & Silver Daily Outlook 10.24.2011 Posted: 24 Oct 2011 10:59 AM PDT Gold and silver ended the week with sharp rises after a week long of falls. Some consider that the rally of gold and silver is over and others consider there will be sharp gains during this week. All speculators look towards the EU summit as one of the catalysts that will push gold and silver prices.

USD To Consolidate Ahead Of EU Summit, Aussie To Face 3Q CPI Posted: 24 Oct 2011 08:56 AM PDT The greenback continued to lose ground on Monday as market participants increased their appetite for risk, but the rise in trader sentiment may be short-lived as the fundamental outlook for the world economy remains clouded with high uncertainty.

Bank Research Consensus Weekly 10.24.11 Posted: 24 Oct 2011 07:10 AM PDT Two of the three principles of modern central banking were designed for a regime that developed economies will not see for the foreseeable future. The principles - (i) inflation targeting improves growth prospects in the medium run; (ii) inflation targeting effectively means inflation forecast targeting; and (iii) a ‘conservative' central banker (i.e., one who dislikes inflation more than the average economic agent) can deliver lower and less volatile inflation - are almost unquestioned among the central banking orthodoxy. However, these principles were espoused in an era of low debt when monetary policy was the dominant force. Manoj Pradhan, Morgan Stanley

Forex: Euro To Weaken Further, Sterling Outlook Hinges On BoE Posted: 24 Oct 2011 07:05 AM PDT Investor sentiment turned lower on Monday and the shift away from risk-taking behavior may gather pace throughout the North American trade as the EU Summit fails to calm market jitters.

Aussie Firms on Chinese Data; Euro Dragged Lower on Crisis Concerns Posted: 24 Oct 2011 06:33 AM PDT The major commodities broke free of their historical correlations at the start of the week as fears of a ‘hard landing’ for China eased while the Euro-zone debt crisis coupled with recessionary fears weighed on the Euro.

Crude Oil Outlook Rests on Conflicted Risk Trends, Gold up On QE3 Talk Posted: 24 Oct 2011 05:11 AM PDT Crude oil prices are looking for direction as risk trends are torn between mixed economic data and a lackluster EU debt crisis summit. Gold is higher on QE3 hopes.

FOREX: Euro at Risk as EU Debt Crisis Summit Fails to Impress Posted: 24 Oct 2011 12:05 AM PDT The Euro is at risk after Euro Zone policymakers failed to impress with their efforts to produce a tangible solution to the region’s debt crisis at a weekend summit.

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