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Tuesday, January 24, 2012

DailyFX - Forex Market News

DailyFX - Forex Market News

FOREX: Euro Bounce May Find Added Fuel in Flash PMI Data

Posted: 23 Jan 2012 11:49 PM PST

The Euro may continue to rise before next week’s EU summit as PMI data points to a modest improvement in manufacturing- and service-sector performance.

Dollar Reengages its Bear Trend as Risk Trends, Euro Steady

Posted: 23 Jan 2012 09:04 PM PST

Unless we see the persistent (but restrained) bid for ‘risky’ assets and the nascent rise in the euro reverse, the dollar will extend is extend its decline. The greenback has two sources of serious strength – fear of a breakdown in global financial stability and a wholesale transfer of capital away from the Euro-region, and neither is working in favor of the safe haven.

US Dollar Tests Key Fibonacci Support- Euro Euphoria to Subside

Posted: 23 Jan 2012 03:03 PM PST

The greenback was on the defensive at the start of the week with the Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) coming under pressure as optimism regarding Europe’s deepening debt crisis took root. How long will it last?

Bank Research Consensus Weekly 01.23.12

Posted: 23 Jan 2012 11:20 AM PST

In an environment of low global growth, US outperformance and concerns about Europe’s ability to fund itself the dollar should of course appreciate! Or should it? The dollar certainly started 2012 on a strong footing, but while analysts are forecasting a flat dollar this year and investors are looking for significant dollar gains (as reflected in near record long dollar positions) we expect the dollar to be near a peak for now. A dollar uptrend is simply not compatible with improved risk sentiment, easy US monetary policy and a sizable US current account deficit in our view – at least as long as the world economy stays clear of a recession.
Kasper Kirkegaard, Senior Analyst, Danske Bank

USD Index Maintains Key Support, Short-Term Correction On Tap

Posted: 23 Jan 2012 08:00 AM PST

The greenback continued to lose ground on Monday, with the Dow Jones-FXCM U.S. Dollar Index slipping to a fresh monthly low of 9,837, and the reserve currency may weaken further during the North American trade as the rise in market sentiment gathers pace.

Guest Commentary: Oil Prices Weekly Outlook January 23-27

Posted: 23 Jan 2012 07:03 AM PST

Oil prices only slightly slipped during last week, which is similar to their slow downward trend in recent weeks. What is up ahead for crude oil prices in the penultimate week of January?

Forex Strategy Outlook: US Dollar Set to Fall Further as Vols Tumble

Posted: 23 Jan 2012 07:00 AM PST

The US Dollar has started the week sharply lower as global stock markets rally, setting the stage for further EURUSD and AUDUSD strength into the following week of trading.

Euro Bid Above 1.3000 as Greek Debt Talks Expected to Conclude "Shortly"

Posted: 23 Jan 2012 06:28 AM PST

After weeks of negotiations and worries that a deal would not be reached over the weekend, the Greek debt swap talks have moved in a favorable direction, providing the additional firepower higher yielding currencies and risk-correlated assets needed to open the last full week of January higher.

Euro Eyes 1.3100 Ahead Of EU Meeting, Sterling Finds Resistance

Posted: 23 Jan 2012 05:55 AM PST

Optimism surrounding the EU meeting in Brussels propped up market sentiment on Monday, but the rise in risk-taking behavior may taper off during the North American trade should European policy makers struggle to meet on common ground.
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Posted by IEmail at 2:06 AM

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