DailyFX - Forex Market News

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• Forex Weekly Trading Forecast - 06.25.2012
• US Dollar Clears Fed Threat, Ready to Run if Fear Erupts
• US Dollar Clears Fed Threat, Ready to Run if Fear Erupts
• Japanese Yen Looks to US Data, EU Leaders’ Summit for Direction
• Euro Feels Sense of Déjà vu as Troika Summit Could Decide Direction
• Absent Docket Leaves Aussie Susceptible to Risk Trends
• Gold Trims Yearly Gains as Bernanke Signals No QE- Techs Point Lower
• British Pound to Remain Under Pressure on Dovish BoE, Poor GDP
• Guest Commentary: Gold & Silver - Daily Outlook June 22
• US Dollar Consolidates after Strongest Day since November 9; Yen Lags
• Crude Oil, Gold May Rise on Profit-Taking After Sharp Selloff

Forex Weekly Trading Forecast - 06.25.2012 Posted: 22 Jun 2012 08:02 PM PDT Hope has disengaged after the Fed's decision to avoid QE3. Will sentiment winds immediately pick back up, or are investors willing to hold out hope once again - this time for the critical EU Summit?

US Dollar Clears Fed Threat, Ready to Run if Fear Erupts Posted: 22 Jun 2012 07:58 PM PDT How do you define a bullish and a bearish market? From a technical perspective, that answer is relatively easy. There are plenty of options from trendlines and moving averages to momentum and Elliott Wave projects that we could use to define our market. From a fundamental perspective, the answer is just as simple and perhaps more profound.

US Dollar Clears Fed Threat, Ready to Run if Fear Erupts Posted: 22 Jun 2012 07:46 PM PDT Through the opening 14 days of June, the Dow Jones FXCM Dollar Index dropped nearly 285 points despite a deteriorating global fundamental backdrop that would normally bolster safe havens. Yet, it is a testament to where sentiment truly lies that the greenback regained half of the ground lost over that near three-week period with a single rally.

Japanese Yen Looks to US Data, EU Leaders’ Summit for Direction Posted: 22 Jun 2012 06:57 PM PDT The Japanese Yen sits at the cross-currents of major themes driving financial markets in the week ahead. The currency’s benchmark pairing against the US Dollar continues to show a strong correlation with 10-year US Treasury yields (on 20-day percent change studies). Meanwhile, the crosses continue to track closely with risk sentiment trends, as tracked by the MSCI World Stock Index.

Euro Feels Sense of Déjà vu as Troika Summit Could Decide Direction Posted: 22 Jun 2012 05:12 PM PDT An eventful week for Greece, Spain, and broader financial markets left traders scrambling for safety and pushed the Euro lower against the safe-haven US Dollar (ticker: USDOLLAR). It initially looked as though the Euro could trade higher as a positive result in Greek elections averted the real risk that Greece could immediately default on its debt. Yet the relief rally and sudden enthusiasm proved short lived, and the general Euro downtrend remains alive and well into the final week of June.

Absent Docket Leaves Aussie Susceptible to Risk Trends Posted: 22 Jun 2012 04:00 PM PDT The Australian Dollar had a relatively strong week, finishing as the second best performer against the US Dollar just behind its Asian-Oceanic counterpart, the New Zealand Dollar. The AUDUSD appreciated by 0.13 percent since last Friday, with the majority of its gains taken back on Thursday, when it slid nearly 2 percent alongside the Euro and US equity markets.

Gold Trims Yearly Gains as Bernanke Signals No QE- Techs Point Lower Posted: 22 Jun 2012 03:07 PM PDT Gold was sharply lower at the close of trade this week with the precious metal plummeting 3.63% to close out its largest decline since the week ending May 11th. Strength in the greenback and dwindling expectations for another round of quantitative easing from the Fed, weighed on demand for the precious metal which continues to trade within the confines of a bearish technical formation.

British Pound to Remain Under Pressure on Dovish BoE, Poor GDP Posted: 22 Jun 2012 02:31 PM PDT The British Pound had a relatively poor week, shedding 0.81 percent against the US Dollar, which was only the third-best performer. Against the top performer, the New Zealand Dollar, the British Pound lost 1.12 percent; yet it still managed to appreciate by 1.34 percent against the worst performer, the Japanese Yen.

Guest Commentary: Gold & Silver - Daily Outlook June 22 Posted: 22 Jun 2012 08:15 AM PDT Gold and silver tumbled down along with other commodities prices such as oil and U.S stock markets.

US Dollar Consolidates after Strongest Day since November 9; Yen Lags Posted: 22 Jun 2012 07:12 AM PDT The US Dollar’s huge day yesterday was its best in eight-months following the Federal Reserve’s decision to ‘Twist’ some more rather than introduce QE3. While it has faced some selling pressure today, this is viewed as merely consolidation. The New Zealand Dollar leads while the Japanese Yen’ struggles continue.

Crude Oil, Gold May Rise on Profit-Taking After Sharp Selloff Posted: 22 Jun 2012 02:00 AM PDT Crude oil and gold prices appear likely to recover as profit-taking drives a bounce in risk appetite into the end of the trading week after yesterday’s brutal selloff.

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