DailyFX - Forex Market News

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• FOREX: US Dollar Rebounds in Asia, S&P Futures Hint More Gains Ahead
• US Dollar Looking Forward to November Following Intense October Sell-Off
• Dollar Pressing Forward on its Biggest Monthly Drop In Over a Decade
• Risk Rally Prompts Massive Dollar Sell-Off, Index Breaks Key Support
• Surge in Volatility Reveals New Scalps- EUR/CAD, GBP/USD Setups
• Slowing British Economy Weighing on Sterling
• AUD/USD: Trading the Reserve Bank of Australia Interest Rate Decision
• USD Oversold, Australian Dollar Rally Threatened By Imminent Rate Cut
• Guest Commentary: Gold Price and the Return of the Gold Standard Debate
• Forex: Euro Poised For Correction, Sterling Weighed By Dovish BoE
• Euro-zone Summit Results Sparks Risk Rally; Aussie Top Performer
• Crude Oil Poised to Rise, Gold Sold as Markets Digest EU Summit

FOREX: US Dollar Rebounds in Asia, S&P Futures Hint More Gains Ahead Posted: 28 Oct 2011 12:47 AM PDT The US Dollar recovered some lost ground in Asia as markets digested yesterday’s sharp selling of the safe-haven currency. S&P 500 futures hint more of the same is ahead.

US Dollar Looking Forward to November Following Intense October Sell-Off Posted: 27 Oct 2011 11:05 PM PDT The price action seen in the month of October has been rather intense and any recovery in the buck from September has been nearly erased. But we believe that “nearly” is the key word…

Dollar Pressing Forward on its Biggest Monthly Drop In Over a Decade Posted: 27 Oct 2011 08:09 PM PDT It may seem a little early to start analysis on a monthly scale (the last trading day for October isn’t until Monday); but the progress that the capital and FX markets have made this month so far warrants our early attention.

Risk Rally Prompts Massive Dollar Sell-Off, Index Breaks Key Support Posted: 27 Oct 2011 06:38 PM PDT The Dow Jones FXCM Dollar Index(Ticker: USDollar) plummeted more than 1.6% as traders jettisoned the greenback in favor of yields. Investors now look to confidence data after a recent string stronger than expected prints. Dollar reprieve on tap.

Surge in Volatility Reveals New Scalps- EUR/CAD, GBP/USD Setups Posted: 27 Oct 2011 02:52 PM PDT The recent massive global rally in risk has offered fresh reference points from which to base our scalp targets. The EUR/CAD looks to consolidate into the apex of a wedge formation while the sterling continues to lag despite substantial dollar weakness.

Slowing British Economy Weighing on Sterling Posted: 27 Oct 2011 01:20 PM PDT The stagflating British economy is wreaking havoc on the British Pound.

AUD/USD: Trading the Reserve Bank of Australia Interest Rate Decision Posted: 27 Oct 2011 12:35 PM PDT Although the Reserve Bank of Australia is widely expected to keep the benchmark interest rate at 4.75%, the policy statement should heavily influence future price action for the aussie as market participants weigh the outlook for monetary policy.

USD Oversold, Australian Dollar Rally Threatened By Imminent Rate Cut Posted: 27 Oct 2011 09:23 AM PDT The greenback tumbled lower on Thursday following the large pickup in risk sentiment, but we may see a correction unfold over the next 24-hours of trading as the reverse currency remains oversold.

Guest Commentary: Gold Price and the Return of the Gold Standard Debate Posted: 27 Oct 2011 08:25 AM PDT While everybody are dealing with the recent agreement among EU leaders regarding the EU debt resolution and the recent US GDP report let's consider one issue that is building momentum as gold price is further rising: There are a rising number of articles that debate the possibility of returning to the gold standard.

Forex: Euro Poised For Correction, Sterling Weighed By Dovish BoE Posted: 27 Oct 2011 07:25 AM PDT Market sentiment turned higher on Thursday and the rise in risk may gather pace over the remainder of the week as global policy makers step up their efforts to restore investor confidence.

Euro-zone Summit Results Sparks Risk Rally; Aussie Top Performer Posted: 27 Oct 2011 06:32 AM PDT Now that the next set of measures is in place to buy time for Euro-zone leaders, the desire for safer assets steadily evaporated throughout the overnight. The U.S. Dollar was the worst performing currency while the commodity currencies lead the majors.

Crude Oil Poised to Rise, Gold Sold as Markets Digest EU Summit Posted: 27 Oct 2011 04:12 AM PDT Crude oil is set to follow stocks higher while gold is on the defensive amid investor optimism following the EU debt crisis summit outcome.

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