| | | | * Dollar Traders Sense Fear as the European Crisis Swells
* Euro Reaction to Italian, Spanish Downgrades Not Complete
* British Pound Shows Little Reaction to Moody's Downgrade on 12 UK Banks
* Canadian Dollar Can't Hold on to Employment Data Rally as Risk Turns
* Japanese Yen: BoJ Officials Keep Policy In Place, Intervention Call Rising
* Australian Dollar Looks to Risk Trends, Employment Data for Guidance
* Gold Lacks Progress Despite Euro Fears as Volume Hits July Low
| Written by: John Kicklighter, Senior Currency Strategist
|
| Dollar Traders Sense Fear as the European Crisis Swells | The dollar managed a remarkable recovery Friday; but the drive wasn't strong enough to unwind the losses the currency incurred across its most liquid counterparts throughout the past week. Referring to the Dow Jones FXCM Dollar Index (ticker = USDollar); the greenback ended the week in the red after four consecutive days of decline that drug the benchmark back below the critical 10,000 level that it managed to overtake Monday for the first time since February. The most aggressive decline in nearly two months is a dramatic way to end the week; but we should put recent volatility into context with the larger trend. Despite the series of declines from this index, the Dollar is still in a six-week bull trend that is six percent up from the end of August. In the coming week, the market will decide whether we are in a serious reversal or temporary hiccup...
|
Best regards,
DailyFX Research Team
research@dailyfx.com |
| | | | Forex Capital Markets, L.L.C.® assumes no responsibility for errors, inaccuracies or omissions in these materials. Forex Capital Markets, L.L.C.® does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. Forex Capital Markets, L.L.C.® shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials. Opinions and estimates constitute our judgment and are subject to change without notice. Past performance is not indicative of future results. | | | |
20:41
AutoForexTradingPro
