DailyFX - Forex Market News

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• Euro: Understanding the Impact of Italy’s Budget Review Vote
• Euro Weighed Down by Widening Italian Bond Spreads; Systemic Risk
• Dollar Struggling to Move Higher as Market Keeps Positive Outlook
• USD Drifts as Traders Eye Greece- Index Holds Below Key Resistance
• EUR/USD, AUD/ USD Channel Scalp Setups- Status Pending
• AUD/USD: Trading the Australian Employment Report
• Bank Research Consensus Weekly 11.07.11
• USD Index Eyes 9,800, Yen Intervention Threats To Resurface
• Guest Commentary: Oil Prices Daily Outlook 11.07.2011
• Forex Volatility Calls for Euro/US Dollar Breakout, JPY Range Trading
• Greek Government Negotiations Continue as Italy Garners More Attention
• Forex: Euro To Weaken Further, Sterling To Hold Range Ahead of BoE
• Crude Oil Under Fire as EU Crisis Hits Italy, Gold Looking to Fed-Speak
• Lack of Key U.S. Data Shifts Focus Abroad, Markets Eye Bank of England

Euro: Understanding the Impact of Italy’s Budget Review Vote Posted: 08 Nov 2011 12:52 AM PST The outlook for the Euro and overall risk appetite rests on an Italian budget review vote, with traders most concerned with the government’s subsequent cohesion.

Euro Weighed Down by Widening Italian Bond Spreads; Systemic Risk Posted: 07 Nov 2011 10:16 PM PST We are actually surprised to see the euro holding up as well as it has considering all of the problems in the Eurozone, but we expect the currency will soon undergo a fresh round of liquidation..

Dollar Struggling to Move Higher as Market Keeps Positive Outlook Posted: 07 Nov 2011 08:40 PM PST Under current market conditions, without a strong bearing on speculative interests (a clear and strong call for high yield or blind demand for safety); sentiment has shown natural buoyancy. For an extremophile currency like the US dollar, a quiet backdrop with a lean towards greater return translates into bearish pressure decline.

USD Drifts as Traders Eye Greece- Index Holds Below Key Resistance Posted: 07 Nov 2011 03:44 PM PST The Dow Jones FXCM Dollar Index (Ticker: USDollar) was fractionally lower at the close of US trade as stocks pared early losses to close higher on the session. The greenback remains at risk after failing to breach key Fibonacci resistance.

EUR/USD, AUD/ USD Channel Scalp Setups- Status Pending Posted: 07 Nov 2011 02:14 PM PST This week we’re watching EURUSD and the AUDUSD due to the action in Europe. Here are the levels to watch.

AUD/USD: Trading the Australian Employment Report Posted: 07 Nov 2011 12:40 PM PST Australia’s labor market is expected to add another 10.0K jobs in October, and the development may encourage the Reserve Bank of Australia to raise its outlook for growth and inflation as the economic recovery gradually gathers pace.

Bank Research Consensus Weekly 11.07.11 Posted: 07 Nov 2011 11:45 AM PST The ECB surprise 25bp rate cut initially sent the euro lower, but after testing downside support levels EUR/USD rebounded and is now back above 1.38. What is going on? Usually the initiation of a monetary easing cycle leads to a bigger currency depreciation, but Thursday saw important mitigating factors. Arne Lohmann Rasmussen, Chief Analyst, Danske Bank

USD Index Eyes 9,800, Yen Intervention Threats To Resurface Posted: 07 Nov 2011 08:47 AM PST A rebound in risk appetite dampened demands for the greenback, but we should see the reserve currency appreciate further over the next 24-hours of trading as the uncertainties surrounding the global economy bears down on market sentiment.

Guest Commentary: Oil Prices Daily Outlook 11.07.2011 Posted: 07 Nov 2011 07:18 AM PST Oil prices curbed their rally during last week after they had sharply inclined during October. On Friday, November 4th oil price (WTI) slightly rose by 0.20% to $94.26/b; Brent also inclined by 1.38% to $112.55/b; during November WTI rose by 1.15% and Brent by 2.77%.

Forex Volatility Calls for Euro/US Dollar Breakout, JPY Range Trading Posted: 07 Nov 2011 06:50 AM PST A marked slowdown in forex market volatility calls for trading ranges in Japanese Yen pairs, but the Euro/US Dollar and US Dollar/Canadian Dollar pairs could continue seeing sharp moves.

Greek Government Negotiations Continue as Italy Garners More Attention Posted: 07 Nov 2011 06:32 AM PST Markets participants received the news they were hoping for – Greek Prime Minister George Papandreou ceding power – but the EUR/USD didn’t receive the boost many anticipated as attention has now turned towards the Euro-zone’s third largest economy, Italy.

Forex: Euro To Weaken Further, Sterling To Hold Range Ahead of BoE Posted: 07 Nov 2011 06:15 AM PST Market sentiment picked up during the European trade, but the rise in risk sentiment is likely to be short-lived as the International Monetary Fund casts a dour outlook for the world economy.

Crude Oil Under Fire as EU Crisis Hits Italy, Gold Looking to Fed-Speak Posted: 07 Nov 2011 03:08 AM PST Crude oil looks set to decline as the spread of the EU debt crisis into Italy undermines risk appetite. The outlook for gold hinges on the US Dollar, Fed commentary.

Lack of Key U.S. Data Shifts Focus Abroad, Markets Eye Bank of England Posted: 07 Nov 2011 03:00 AM PST The flurry of rate decisions this week provided amble trading opportunities amid extraordinary price action. Looking ahead, the Bank of England rate decision headlines the coming week, with one eye always fixated on the Euro-zone debt crisis.

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