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Friday, November 11, 2011

DailyFX - Forex Market News

DailyFX - Forex Market News


FOREX: US Dollar to Pull Back Further as Grece, Italy Outlook Softens

Posted: 11 Nov 2011 01:05 AM PST

The safe-haven US Dollar is likely to correct further down as traders find an excuse for profit-taking in mildly supportive news from Italy and Greece, but this won’t last.

More Consolidation into Friday But Risks Still Tilted to Downside

Posted: 10 Nov 2011 10:02 PM PST

Markets have been consolidating recent setbacks over the past few sessions, but we view this as a bearish consolidation that will eventually lead to renewed risk liquidation…

Dollar Little Changed as Euro Fears Yet to Morph into Global Panic

Posted: 10 Nov 2011 07:59 PM PST

It shouldn’t come as a surprise to anyone that after Wednesday’s seismic, risk aversion shift that sentiment extremes quickly settle. Generally, the masses have grown skeptical of any meaningful trend (especially a bearish one) taking over for capital markets. This is more habitual than fundamental.

Guest Commentary: Trade With the Trend

Posted: 10 Nov 2011 06:30 PM PST

You’ve probably heard the expression: “Make the trend your friend”. For many, this basic idea has already been forgotten and regarded as yet another cliché. Nevertheless, it is still very relevant.

US Dollar Softens Amid Lackluster Stock Action

Posted: 10 Nov 2011 03:02 PM PST

The Dow Jones FXCM Dollar Index (Ticker: USDollar) eased off monthly highs in the wake of yesterday’s global risk sell-off. The losses are likely to be short lived however as the index continues to respect key technical levels and ongoing debt fears weigh on risk.

EUR/USD: Trading the U. of Michigan Confidence Survey

Posted: 10 Nov 2011 01:19 PM PST

Household sentiment in the U.S. is expected to improve in October, and the development could push the greenback higher as market participants scale back speculation for additional monetary support.

USD To Maintain Upward Trending Channel, Euro Outlook Remains Bearish

Posted: 10 Nov 2011 09:09 AM PST

The greenback regained its footing during the North American trade and the reserve currency may trade higher going into the end of the week as the rise in risk appetite tapers off.

Guest Commentary: Gold & Silver Daily Outlook 11.10.2011

Posted: 10 Nov 2011 07:09 AM PST

Gold moderately declined on Wednesday by 0.42% to $1,791.6; silver also declined by 2.25% to $34.36. During November, gold increased by 3.8% while silver remained virtually unchanged.

Forex: Euro Relief Rally To Be Short-Lived, Sterling To Hold Range

Posted: 10 Nov 2011 06:45 AM PST

Market sentiment bounced back on Thursday as European policy makers increased their effort to calm market fears, but the rise in risk is likely to be short-lived as the fundamental outlook for the global economy turns increasingly bleak.

Italian Auction Soothes Fears, Euro Gains; Bank of England Holds Rates

Posted: 10 Nov 2011 06:25 AM PST

A better-than-expected Italian bond auction eased concerns that the country with the world’s third largest debt burden will be able to fund itself, at least in the short-term. The Euro has responded positively, unwinding nearly a quarter of yesterday’s losses. Meanwhile, the Bank of England held its key rate on hold as it determines whether or not more quantitative easing is needed.

Crude Oil to Correct Higher With S&P 500, Gold Still Watching Bernanke

Posted: 10 Nov 2011 03:46 AM PST

Crude oil is set to rebound amid a broad-based correction in risk appetite after yesterday’s selloff. Gold is still looking for QE3 clues in Ben Bernanke’s commentary.
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