DailyFX - Forex Market News

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• Bank Research Consensus Weekly 06.04.12
• Dollar Falls on Stimulus Hopes in Asia, More of the Same Hinted Ahead
• Dollar’s Failure to Capitalize on S&P 500’s Tumble Concerning
• Dollar to Correct Lower on QE3 Outlook, Bernanke Testimony in Focus
• AUDUSD: Trading the Reserve Bank of Australia Interest Rate Decision
• US Dollar Targets New Highs Despite Pullback on Strong FX Volatility
• USD Looks Higher Despite Being Overbought, AUD Outlook Hinges On RBA
• EURUSD Higher Ahead at NY Open as Asia and Europe Digest NFPs
• Euro Propped Up By Hopes For ‘Bank Union,’ All Eyes On ECB
• Gold and Silver Weekly Outlook for June 4-8
• Commodities May Recover from Early Losses as QE3 Bets Rebuild

Bank Research Consensus Weekly 06.04.12 Posted: 06 Jun 2012 11:20 AM PDT Recent leading indicators have been very weak and even the core countries are in recession. We expect the ECB to respond with a rate cut on Wednesday. A cut is partly priced in the market although unchanged rates remain the consensus among analysts. Anders Møller Lumholtz and Lars Tranberg Rasmussen, Danske Bank

Dollar Falls on Stimulus Hopes in Asia, More of the Same Hinted Ahead Posted: 05 Jun 2012 12:05 AM PDT The US Dollar fell amid waning haven demand as stocks rose on hopes of a Fed QE3 program in the works. S&P 500 futures hint at more of the same ahead.

Dollar’s Failure to Capitalize on S&P 500’s Tumble Concerning Posted: 04 Jun 2012 09:09 PM PDT The US dollar’s hesitation is starting to look a lot like burgeoning selling pressure. Has the backdrop for global financial and economic health taken a sudden turn for the better and subsequently negated the demand for a liquidity-renowned, safe haven greenback?

Dollar to Correct Lower on QE3 Outlook, Bernanke Testimony in Focus Posted: 04 Jun 2012 08:55 PM PDT The US Dollar appears likely to correct lower against the major currencies amid rebuilding QE3 expectations before the larger up trend resumes.

AUDUSD: Trading the Reserve Bank of Australia Interest Rate Decision Posted: 04 Jun 2012 12:45 PM PDT The Reserve Bank of Australia is expected to take additional steps to shore up the $1T economy and another rate cut could spark a selloff in the AUDUSD as it instills a weakened outlook for the region.

US Dollar Targets New Highs Despite Pullback on Strong FX Volatility Posted: 04 Jun 2012 09:30 AM PDT The US Dollar (ticker: USDOLLAR) has pulled back against the Euro, but strong forex market volatility expectations suggest that the safe-haven USD may rally to fresh highs in the week ahead.

USD Looks Higher Despite Being Overbought, AUD Outlook Hinges On RBA Posted: 04 Jun 2012 09:05 AM PDT The greenback continued to give back the advance from May, with the Dow Jones-FXCM U.S. Dollar Index slipping to a low of 10,212, and the reserve currency may continue to track lower over the next 24-hours of trading as market participants increasing their appetite for risk.

EURUSD Higher Ahead at NY Open as Asia and Europe Digest NFPs Posted: 04 Jun 2012 06:39 AM PDT The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) opened the week higher as Asian investors shed riskier assets after Friday’s dismal Nonfarm Payrolls report for May. With liquidity thinner in Europe for the British holiday, risk-correlated assets bounced back; and the Euro’s rally has picked up its pace.

Euro Propped Up By Hopes For ‘Bank Union,’ All Eyes On ECB Posted: 04 Jun 2012 06:35 AM PDT Market sentiment picked up on Monday as European policy makers continued to float ideas on broadening the powers of the European Stability Mechanism, but the rebound in risk-taking behavior may be short-lived as the EU struggles to meet on common ground.

Gold and Silver Weekly Outlook for June 4-8 Posted: 04 Jun 2012 05:33 AM PDT Last week gold and silver started off the week the same way they have shifted during the last couple of weeks with little movement until Friday when both metals (mainly gold) spiked.

Commodities May Recover from Early Losses as QE3 Bets Rebuild Posted: 04 Jun 2012 03:21 AM PDT Commodities fell in Asian and early European trade but prices may rebound as Wall Street comes online amid rebuilding Fed QE3 expectations.

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