DailyFX - Forex Market News

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• Currencies Well Bid But is the Price Action Warranted?
• FOREX: Dollar May Rise as Traders Rethink Cental Banks’ Swap Rate Cut
• USD Posts Sharpest Decline of Month on Monster Dow Jones Rally
• EUR/USD: Trading the U.S. ISM Manufacturing Report
• USD To Consolidate Ahead Of NFPs, Euro Continues To Find Resistance
• Guest Commentary: Is Gold Still Considered a Safe Haven Investment?
• Commodity Currencies Surge on Coordinated Central Bank Intervention
• Euro Propped Up By Central Bank Coordination, Outlook Remain Bearish
• Crude Oil, Gold Likely to Fall as Lackluster Euro Summit Boosts US Dollar

Currencies Well Bid But is the Price Action Warranted? Posted: 30 Nov 2011 11:20 PM PST The latest surge in risk appetite has been brought on by the announcement of a massive coordinated central bank easing, but the underlying message is not risk positive…

FOREX: Dollar May Rise as Traders Rethink Cental Banks’ Swap Rate Cut Posted: 30 Nov 2011 10:35 PM PST The safe-haven US Dollar may rise on renewed risk aversion as traders rethink the implications of yesterday’s swap rate cut by the world’s top central banks.

USD Posts Sharpest Decline of Month on Monster Dow Jones Rally Posted: 30 Nov 2011 02:21 PM PST The Dow Jones FXCM Dollar Index was off by more than 1% in North American trade as global headlines and strong US data drove risk to new highs. Here are the levels to watch as the greenback looks to consolidate ahead of NFPs.

EUR/USD: Trading the U.S. ISM Manufacturing Report Posted: 30 Nov 2011 01:16 PM PST Manufacturing in the world’s largest economy is expected to expand at a faster pace in November and the ISM report could generate a bullish reaction in the USD as the data instills an improved outlook for future growth.

USD To Consolidate Ahead Of NFPs, Euro Continues To Find Resistance Posted: 30 Nov 2011 11:00 AM PST The greenback appears to be regaining its footing following the sharp selloff from earlier this morning, and we may see the reserve currency trade higher throughout the North American trade as it remains heavily oversold.

Guest Commentary: Is Gold Still Considered a Safe Haven Investment? Posted: 30 Nov 2011 08:36 AM PST I recall that the last time gold sharply rose was back in August when the markets stirred up over the U.S. debt ceiling debacle which was followed by the S&P's downgrade of U.S.'s credit rating. Back then gold price reached a record high of nearly $1,900 the U.S. treasuries yields also fell precipitately as the anxiety level in the markets rose, traders became risk averse, American stock markets plummeted and the demand for safe haven investments was high. Now the demand for U.S. treasuries is high, the American stock markets are falling again, but gold is also falling. Is gold still considered a safe haven investment among traders?

Commodity Currencies Surge on Coordinated Central Bank Intervention Posted: 30 Nov 2011 06:55 AM PST Higher yielding currencies, such as the Australian Dollar, and risk-correlated assets, such as global equity markets, rally after the Federal Reserve announces increased liquidity provisions with five other central banks. Is this the beginning to the “Santa Claus” rally?

Euro Propped Up By Central Bank Coordination, Outlook Remain Bearish Posted: 30 Nov 2011 06:50 AM PST Investor sentiment picked up ahead of the North American trade as the People’s Bank of China lowered its reserve ratio by 50bp, and the rise in risk appetite may gather pace over the next 24-hours of trading as the major central banks step up their efforts to shore up the global economy.

Crude Oil, Gold Likely to Fall as Lackluster Euro Summit Boosts US Dollar Posted: 30 Nov 2011 02:29 AM PST Crude oil and gold are poised to decline amid risk aversion as a disappointing Eurozone finance ministers’ summit stokes safe-haven demand for the US Dollar.

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