Daily Fundamentals - 11.07.11

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*    Dollar Ignores Economic Implications of NFPs, Looks for More Risk *    Euro Passes Another Hurdle with Greece Confidence Vote, What Next? *    British Pound: Should We Expect Anything from the BoE Next Week? *    Canadian Dollar's Reaction to Employment Surprise Doesn't Stop with Volatility *    Swiss Franc: SNB FX Holdings Unexpectedly Drop in October *    Japanese Yen Decline Lacking Momentum, Risk of Rebound Growing *    Gold Slowing Advancing as ETF, Speculative and Central Bank Holdings Advance Written by: John Kicklighter, Senior Currency Strategist Dollar Ignores Economic Implications of NFPs, Looks for More Risk Despite the chop through the second half of this past week, the Dow Jones FXCM Dollar Index (ticker = USDollar) closed out its first weekly advance in five. It also happened to be the greenback's best performance (in a 2.6 percent rally) since the series of swells through October 2008. The comparison in performance should represent an easy bridge to fundamentals. Three years ago, the market was dealing with the worst financial crisis and economic recession the world had seen in generations. The dollar's safe haven status under extreme conditions once again shows through. However, upon review, the troubles faced this past week didn't seem to match the sheer panic that had seized the markets during the Lehman Brothers / Subprime fiasco. So, where did this drive come from?   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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