DailyFX - Forex Market News

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• Forex Trading Weekly Forecast - 09.24.2012
• Forex: Dollar’s First Positive Close in Six Weeks Doesn’t Confirm Reversal
• US Dollar Needs Risk Appetite Collapse to Secure Recovery
• Japanese Yen Unfazed By BoJ Easing- Eyes 77.00 Ahead Of October
• Euro Traders Dangerously Complacent – How Long does it Last?
• British Pound Looks to Spain Event Risk, US Data for Direction
• Australian Dollar Correction Could Be Over if Risk Trends Permit
• USD Index Clouded With Mixed Signals- Sterling Buoyed By BoE Policy
• Guest Commentary: Swiss Net International Investment Position Increases by 64 Billion Francs
• Euro Weighed By Greek Fears- ECB May Fail To Solve Debt Crisis
• EU’s Barnier: ’No German Resistance to Joint Banking Supervision’

Forex Trading Weekly Forecast - 09.24.2012 Posted: 21 Sep 2012 07:33 PM PDT Correction or reversal? That is the question we have to ask of the dollar’s performance this past week. With the close on Friday, the Dow Jones FXCM Dollar Index (ticker = USDollar) managed to close out its first bullish week in five. Yet, how long can sentiment hold out on the merits of these latest rounds of support? Is it the cumulative influence of previous rounds of external support that keeps risk up and the dollar down or is it the hope for more in the future?

Forex: Dollar’s First Positive Close in Six Weeks Doesn’t Confirm Reversal Posted: 21 Sep 2012 07:30 PM PDT After a hearty round of selling, the dollar finally managed to bounce this past week. In fact, EURUSD closed out its first bearish week in six with the close below 1.3000. Yet, we need to look beyond the simple positive / negative performance and more to the character of the move.

US Dollar Needs Risk Appetite Collapse to Secure Recovery Posted: 21 Sep 2012 06:33 PM PDT Correction or reversal? That is the question we have to ask of the dollar’s performance this past week. With the close on Friday, the Dow Jones FXCM Dollar Index (ticker = USDollar) managed to close out its first bullish week in five. Yet, the turn didn’t even recover half of the losses that the benchmark suffered the previous week.

Japanese Yen Unfazed By BoJ Easing- Eyes 77.00 Ahead Of October Posted: 21 Sep 2012 06:32 PM PDT The Japanese Yen gained ground against its U.S. counterpart even as the Bank of Japan eased monetary policy at the September meeting, and USDJPY may continue to give back the rebound from 77.12 as positive real interest rates in the world’s third-largest economy increases the appeal of the Yen.

Euro Traders Dangerously Complacent – How Long does it Last? Posted: 21 Sep 2012 06:30 PM PDT The Euro finally showed signs of weakness as it fell against the US Dollar (ticker: USDOLLAR) for the first week in six on similar corrections in European and global stock markets. Yet the previously high-flying EURUSD remains an impressive 900 pips above July’s multi-year lows, and it will take a larger pullback to suggest an important top is in place.

British Pound Looks to Spain Event Risk, US Data for Direction Posted: 21 Sep 2012 06:29 PM PDT A limited stock of noteworthy homegrown event risk leaves the British Pound at the mercy of larger market themes in the week ahead. Broadly speaking, traders remain primarily concerned with quantifying the degree of slowdown in global economic growth over the coming quarters as well as financial stability in the Eurozone.

Australian Dollar Correction Could Be Over if Risk Trends Permit Posted: 21 Sep 2012 06:27 PM PDT The Australian Dollar had a mediocre week, shedding -1.17% against the top performer, the Japanese Yen, while gaining +0.26% against the worst performer, the Euro. The AUDUSD dropped back by -0.89% as price action was largely dictated by two main themes: a US Dollar rebound; and deteriorating sentiment on China.

USD Index Clouded With Mixed Signals- Sterling Buoyed By BoE Policy Posted: 21 Sep 2012 08:45 AM PDT The greenback appears to be regaining its footing during the North American trade, with the Dow Jones-FXCM U.S. Dollar Index bouncing back from a low of 9,778, and the reserve currency may track higher throughout the remainder of the day as risk sentiment wanes.

Guest Commentary: Swiss Net International Investment Position Increases by 64 Billion Francs Posted: 21 Sep 2012 06:40 AM PDT According to the latest SNB Monthly Bulletin, the Swiss net international investment position (NIIP) has improved by 64.5 billion francs. The Gross National Income (GNI) rises by 1.8% in Q2.

Euro Weighed By Greek Fears- ECB May Fail To Solve Debt Crisis Posted: 21 Sep 2012 05:20 AM PDT The Euro is struggling to hold its ground on Friday as headlines coming out of Europe continue to highlight the threat for contagion, and the single currency may weaken further during the North American trade as the fundamental outlook for the region turns increasingly bleak.

EU’s Barnier: ’No German Resistance to Joint Banking Supervision’ Posted: 21 Sep 2012 03:53 AM PDT EUROPEAN SESSION UPDATE: The European Commissioner admitted there will be compromises on the banking plan; German spokesman says it’s unclear when the Troika will deliver the Greece report…

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