DailyFX - Forex Market News

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• Dollar Ignores Economic Implications of NFPs, Looks for More Risk
• Forex Trading Weekly Forecast - 10.07.2011
• US Dollar Sensitive to Euro Troubles but Risk Increasingly Intrinsic
• Euro Survives Greek Confidence Vote – What’s Next?
• Canadian Dollar Follows Broad Market Sentiment, On Verge of Collapse
• Gold To Advance Further As Fed Dampens Demands For USD
• Australian Dollar Outlook Weighed By RBA, Additional Rate Cuts On Tap
• Japanese Yen to Continue Rebound Against Majors, Save the U.S. Dollar
• Pound Resilience to Persist on EU Debt Concerns - Traders Eye BoE
• Guest Commentary: Pressure on Italy Mounting – Also in the Short Term
• USD To Strengthen Further, Aussie Weighed By Rate Cut Expectations
• Guest Commentary: Gold & Silver Daily Outlook 11.04.2011
• U.S. Nonfarm Payrolls Show Mixed Picture, U.S. Dollar Firms
• Forex: USD To Gain Ground Amid 80K NFP Print, G20 Summit Disappoints

Dollar Ignores Economic Implications of NFPs, Looks for More Risk Posted: 04 Nov 2011 08:58 PM PDT Despite the chop through the second half of this past week, the Dow Jones FXCM Dollar Index (ticker = USDollar) closed out its first weekly advance in five. It also happened to be the greenback’s best performance (in a 2.6 percent rally) since the series of swells through October 2008.

Forex Trading Weekly Forecast - 10.07.2011 Posted: 04 Nov 2011 08:11 PM PDT US Dollar Sensitive to Euro Troubles but Risk Increasingly Intrinsic Euro Survives Greek Confidence Vote – What’s Next? Japanese Yen to Continue Rebound Against Majors, Save the U.S. Dollar Pound Resilience to Persist on EU Debt Concerns - Traders Eye BoE Gold To Advance Further As Fed Dampens Demands For USD Canadian Dollar Follows Broad Market Sentiment, On Verge of Collapse Australian Dollar Outlook Weighed By RBA, Additional Rate Cuts On Tap

US Dollar Sensitive to Euro Troubles but Risk Increasingly Intrinsic Posted: 04 Nov 2011 07:54 PM PDT It wasn’t just the dollar that opened this past week backed by a strong fundamental wind. Global investors sentiment was severely shaken by the suggestion that Greece’s Prime Minister was pushing through a vote on the EU’s austerity plan, which could have essentially been read as a vote on the countries membership in the EU.

Euro Survives Greek Confidence Vote – What’s Next? Posted: 04 Nov 2011 07:39 PM PDT The Euro tumbled sharply against the safe-haven US Dollar amidst a clear deterioration in domestic fiscal issues, underlined by the widest spreads between Italian and German bonds since the Euro Era and fresh troubles in Greece.

Canadian Dollar Follows Broad Market Sentiment, On Verge of Collapse Posted: 04 Nov 2011 04:13 PM PDT The Canadian Dollar had a poor week, falling 2.44 percent against the U.S. Dollar, but this was a modest decline relative to its other peers. In fact, among the majors, the Canadian Dollar was the second best performing currency on the week against the Greenback, only second to the British Pound.

Gold To Advance Further As Fed Dampens Demands For USD Posted: 04 Nov 2011 04:08 PM PDT Gold advance to a fresh monthly high of $1768/oz as market participants diversified away from the U.S. dollar, and the bullion may continue to retrace the sharp selloff from back in September as the Federal Reserve casts a weakened outlook for the world’s largest economy.

Australian Dollar Outlook Weighed By RBA, Additional Rate Cuts On Tap Posted: 04 Nov 2011 03:58 PM PDT The Australian dollar pared the advance from the previous month following a shift in risk sentiment, but we may see the high-yielding currency regain its footing over the following week should the economic docket reinforce an improved outlook for the isle-nation.

Japanese Yen to Continue Rebound Against Majors, Save the U.S. Dollar Posted: 04 Nov 2011 03:56 PM PDT The Japanese Yen was the second worst performing major currency this past week, falling 3.06 percent against the U.S. Dollar. The Yen’s positioning among the major currencies is curious to say the least, in light of the intervention; the New Zealand Dollar performed even worse than the Yen did.

Pound Resilience to Persist on EU Debt Concerns - Traders Eye BoE Posted: 04 Nov 2011 03:51 PM PDT The British Pound was the top performing currency against a stronger dollar this week with a decline of just 0.68% versus the greenback. Although the dollar surged against all its major counterparts this week, the sterling has remained rather resilient with all the majors declining between 2.4-3.2% against the reserve currency.

Guest Commentary: Pressure on Italy Mounting – Also in the Short Term Posted: 04 Nov 2011 01:52 PM PDT 10 year bonds continued moving higher, floating between 6.3% and 6.4%. These are very high and unsustainable levels. These benchmark bonds are important, but the bigger drama is in the shorter term bonds, where significant and worrying breakouts have been made, but they were not always noted.

USD To Strengthen Further, Aussie Weighed By Rate Cut Expectations Posted: 04 Nov 2011 09:54 AM PDT The greenback pared the decline from earlier this week following the shift in market sentiment, and the recent strength in the reserve currency may carry into the following week should the flight to safety gather pace.

Guest Commentary: Gold & Silver Daily Outlook 11.04.2011 Posted: 04 Nov 2011 08:10 AM PDT Gold and silver continued their rally and inclined yesterday; this rally was probably stem, in part, by the news from ECB to cut interest rates and the speculation that Greek President Papandreou might cancel the referendum. Gold sharply rose on Thursday by 2.05% to $1,765.1; silver also increased by 1.64% to $34.50.

U.S. Nonfarm Payrolls Show Mixed Picture, U.S. Dollar Firms Posted: 04 Nov 2011 06:50 AM PDT The labor market reading for the U.S. economy initially weighed on the U.S. Dollar, but the details of the report gave good reason to be a bullish the world’s reserve currency soon thereafter.

Forex: USD To Gain Ground Amid 80K NFP Print, G20 Summit Disappoints Posted: 04 Nov 2011 06:40 AM PDT Market participants showed a fairly muted reaction to the U.S. Non-Farm Payrolls report as it crossed the wires largely in-line with expectations, but the major currencies may trade heavy throughout the North American trade as the G20 Summit in Cannes, France disappoints.

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