DailyFX - Forex Market News

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• Euro Holding Up Quite Well Considering, But Still Very Bearish
• Guest Commentary: The Weekly Macro View - Just As Things Couldn’t Get Any Worse for Europe
• Crude Oil to Refocus on EU Debt Crisis, Gold Following Dollar’s Lead
• Dollar’s Appeal Rising as Threat of Another Financial Crisis Builds
• FOREX: Euro Outlook Hinges on Comments from Key ECB Officials
• US Dollar Recovers on Afternoon Stock Rally- Index Eyes 9900
• EUR/USD, AUD/USD On The Move- Fresh Scalping Setups
• USD/CAD: Trading Canada’s Consumer Price Report
• USD Faces RSI Divergence, Euro Fundamentals Deteriorate Further
• Guest Commentary: Gold & Silver Daily Outlook 11.17.2011
• ECB Continues Italian Bond Purchases, Propping up Euro
• Forex: Euro Outlook Remains Bearish, Sterling Holds Key Support

Euro Holding Up Quite Well Considering, But Still Very Bearish Posted: 17 Nov 2011 11:12 PM PST Considering all of the negative attention in the Eurozone and very real threat of contagion and systemic risk, we are quite surprised to see the Euro holding up so well…

Guest Commentary: The Weekly Macro View - Just As Things Couldn’t Get Any Worse for Europe Posted: 17 Nov 2011 11:00 PM PST The economic outlook in the European Monetary Union (EMU) took a turn for the worse last Thursday when the European Commission (EC) announced that growth in the region had stagnated and economies were facing a real possibility of a double-dip recession. This news was compounded by comments from Fitch which said that their recent surveys showed European investors now think a double-dip recession is three times as likely to occur compared with second quarter responses.

Crude Oil to Refocus on EU Debt Crisis, Gold Following Dollar’s Lead Posted: 17 Nov 2011 10:40 PM PST Crude oil prices appear to have re-coupled with risk appetite trends, putting the focus back on the EU debt crisis, while gold continues to take cues from the US Dollar.

Dollar’s Appeal Rising as Threat of Another Financial Crisis Builds Posted: 17 Nov 2011 07:30 PM PST Global growth trends are slowing, benchmark rates are lowering the floor on expected returns and market sentiment is sobering after the bullish charge that began back in the first quarter of 2009.

FOREX: Euro Outlook Hinges on Comments from Key ECB Officials Posted: 17 Nov 2011 06:56 PM PST The Euro turns to comments from the ECB’s Mario Draghi and Jens Weidmann for clues on the bank’s willingness to offer greater support to EU bond markets.

US Dollar Recovers on Afternoon Stock Rally- Index Eyes 9900 Posted: 17 Nov 2011 03:20 PM PST The Dow Jones FXCM Dollar Index (Ticker:USDollar) was stronger at the close of trade as an aggressive sell-off in equities prompted have flows into the reserve currency. Although the move puts key topside targets in sight, the dollar may lag in the interim.

EUR/USD, AUD/USD On The Move- Fresh Scalping Setups Posted: 17 Nov 2011 01:38 PM PST We’ve updated our euro scalp levels and identified fresh aussie targets as markets continue to jettison risk on European debt concerns. Here are the pending scalp targets we will be eyeing over the next 24-hours.

USD/CAD: Trading Canada’s Consumer Price Report Posted: 17 Nov 2011 12:32 PM PST Easing price pressures in Canada may weigh on the exchange as the central bank softens its hawkish tone for monetary policy, and the loonie may face additional headwinds over the near-term as the data raises the risk of seeing lower borrowing costs.

USD Faces RSI Divergence, Euro Fundamentals Deteriorate Further Posted: 17 Nov 2011 08:56 AM PST The greenback gave back the overnight advance as there appears to be a shift in market sentiment, and the reserve currency may trade heavy over the next 24-hours of trading should the rebound in risk appetite gather pace.

Guest Commentary: Gold & Silver Daily Outlook 11.17.2011 Posted: 17 Nov 2011 07:38 AM PST Gold and silver continue to seek direction as they have slightly slipped yesterday after they had moderately inclined on Tuesday. There is still no new development in regards to the European debt crisis, but once there will be, it could stir up the financial markets including the precious metals market.

ECB Continues Italian Bond Purchases, Propping up Euro Posted: 17 Nov 2011 06:40 AM PST After yesterday’s late-day sell-off sparked by Euro-zone commentary from Fitch Ratings, the European Central Bank stepped into the secondary market to soak up stale Italian bonds, supporting the Euro in the overnight trade.

Forex: Euro Outlook Remains Bearish, Sterling Holds Key Support Posted: 17 Nov 2011 06:40 AM PST The heightening risk for contagion weighed on market sentiment during the overnight trade, but there appears to be a shift in risk-taking behavior as the positive developments coming out of the world’s largest economy raises the prospects for future growth.

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