DailyFX - Forex Market News

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• FOREX: US Dollar Extends Rally as Stocks Slump, ISM Report in Focus
• Euro Price Action in November Expected to Resemble Septemeber Moves
• Australian Dollar Slides after RBA Rate Cut but Risk Trends Critical
• USD Stages Largest Rally Since August- Index Clears Key Resistance
• Bank Research Consensus Weekly 10.31.11
• GBP/USD: Trading the Advance 3Q U.K. GDP Report
• Forex Strategy Outlook: Volatility Guaranteed, Breakouts Attractive
• USD To Consolidate Ahead Of FOMC, Yen Weakness To Be Short-Lived
• Guest Commentary: Gold & Silver Prices Daily Outlook 10.31.2011
• Forex: Euro To Falter Ahead Of ECB, Sterling Weighed By Growth Fears
• Japanese Ministry of Finance Intervention Sinks Yen, But Losses Short-Lived
• Crude Oil, Gold Vulnerable with US Dollar Poised to Extend Recovery

FOREX: US Dollar Extends Rally as Stocks Slump, ISM Report in Focus Posted: 01 Nov 2011 01:33 AM PDT The US Dollar continues to rally on safe-haven demand, traders now likely to look past UK GDP and PMI data to focus on US ISM Manufacturing report.

Euro Price Action in November Expected to Resemble Septemeber Moves Posted: 31 Oct 2011 11:48 PM PDT October is finally behind us and we contend that the US Dollar will re-emerge as the outperforming currency in the month of November…

Australian Dollar Slides after RBA Rate Cut but Risk Trends Critical Posted: 31 Oct 2011 09:50 PM PDT As expected by both the markets (pricing in an 85 percent probability) and economists (16 of 27 polled by Bloomberg); the Reserve Bank of Australia cut its benchmark lending rate by 25 basis points to 4.50 percent. This was the first move from the central bank in a year (they hiked last November) and the first cut since April 2009.

USD Stages Largest Rally Since August- Index Clears Key Resistance Posted: 31 Oct 2011 02:28 PM PDT The Dow Jones FXCM Dollar Index (Ticker: USDollar) surged more than 2% today as equity markets tumbled on renewed European debt concerns and end-of-month profit taking. However with key event risk on tap this week, the greenback is likely to remain in consolidation.

Bank Research Consensus Weekly 10.31.11 Posted: 31 Oct 2011 01:10 PM PDT The dollar has fallen just as fast as it rallied and is now almost back to August levels. This has caught the market on the wrong foot, as a general euro bearish sentiment meant that investors had been sitting on significant short euro positions. These are now being unwound – explaining the speed of the correction. Kasper Kirkegaard, Senior Analyst, Danske Bank

GBP/USD: Trading the Advance 3Q U.K. GDP Report Posted: 31 Oct 2011 12:51 PM PDT Economic activity in the U.K. is expected to expand at a faster pace in the third-quarter, and a positive GDP report should prop up the British Pound as it encourages an improved outlook for the region.

Forex Strategy Outlook: Volatility Guaranteed, Breakouts Attractive Posted: 31 Oct 2011 10:35 AM PDT An exceedingly busy economic calendar points to major moves in the Euro/US Dollar, US Dollar/Japanese Yen, and other key forex pairs. We favor trading high-volatility strategies until further notice.

USD To Consolidate Ahead Of FOMC, Yen Weakness To Be Short-Lived Posted: 31 Oct 2011 08:45 AM PDT The greenback rallied across the board on Monday and the reserve currency may continue to appreciate over the next 24-hours of trading as market sentiment falters.

Guest Commentary: Gold & Silver Prices Daily Outlook 10.31.2011 Posted: 31 Oct 2011 08:14 AM PDT Gold and silver traders enjoyed from sharp gains to gold and silver prices during most of last week. The G20 summit, the FOMC meeting, the ECB rate decision and the U.S. labor report are the main events for the upcoming week that could influence bullion traders.

Forex: Euro To Falter Ahead Of ECB, Sterling Weighed By Growth Fears Posted: 31 Oct 2011 06:50 AM PDT Investor confidence buckled on Monday as market participants saw little hope of finding a quick fix for the sovereign debt crisis, and the shift away from risk-taking behavior may gather pace throughout the North American trade as the fundamental outlook for the global economy turns increasingly bleak.

Japanese Ministry of Finance Intervention Sinks Yen, But Losses Short-Lived Posted: 31 Oct 2011 06:32 AM PDT The Ministry of Finance unveiled a ¥3 trillion package to unilaterally weaken the Japanese Yen early in Asian trading on Monday, lifting the USD/JPY from close to its all-time low. Ahead of trading in New York, however, the Yen had already regained some steam.

Crude Oil, Gold Vulnerable with US Dollar Poised to Extend Recovery Posted: 31 Oct 2011 05:31 AM PDT Crude oil and gold are under pressure as an aggressive recovery in the US Dollar amounts to a de-facto headwind. S&P 500 index futures hint more of the same ahead.

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