Daily Fundamentals - 10.12.11

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*    Dollar's First Advance in Six Days is an Anemic One *    Euro Benefits from Quiet Markets on Slovakia Vote, Greece Review *    British Pound Looks to See If Labor Data Can Offer More Volatility than Posen, GDP Forecast *    Japanese Yen Congestion Against US Dollar Extreme - Be Prepared for a Breakout *    Australian Dollar: Consumer Confidence May have Notched Higher, But Risk Trends Haven't *    Canadian Dollar Receives Little Encouragement from Jump in Housing Starts *    Gold Fails to Capitalize on Technical Break, European Crisis Pressure Easing Written by: John Kicklighter, Senior Currency Strategist Dollar's First Advance in Six Days is an Anemic One Market conditions are feeble. This is not a reflection on direction for any specific asset or currency but rather a state of being for the level of volatility and conviction behind risk appetite trends. Without a higher level of activity and a market susceptible to shifting sentiment; fundamental developments are easily glossed over and meaningful trends remain out of reach. This was something of a burden for the greenback through Tuesday's session as a round of potentially negative developments for capital markets wouldn't translate into traction and meaningful progress for the FX market's more extreme-leaning safe haven. The combination of a stalled risk run, tempered conviction and concerning updates on Europe's financial situation was enough to lead the Dow Jones FXCM Dollar Index (ticker = USDollar) to its first positive close in six trading sessions; but it was essentially a 'tick' higher. This was the same exact scenario for the greenback's most liquid pairing (EURUSD) - though there was slightly more progress to be found with the risk-sensitive AUDUSD and NZDUSD; while GBPUSD stood as an outlier with a 0.6 percent tumble...   Download the Full Article Best regards, DailyFX Research Team research@dailyfx.com DailyFX Home | research@dailyfx.com | Contact US ©2009 DailyFX. All Rights Reserved. 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.

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