Stocks are surging, oil is above $70, gold is back above $980 and the dollar is falling versus the majors except the yen. The global reflation trade is trumping good US-specific news in terms of the dollar. EUR/USD has reached 1.4265 thus far and USD/JPY 97.52. We are well above the 200-day average in that pair.
Reflation trade on fire after payrolls
Source: www.forexlive.com
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FOREX VIDEO - ASIAN OUTLOOK NOVEMBER 16TH 2009
Hi everyone! The Asian preview for Monday is an update on the pound (may as well while it is producing for us) and a new look at the EUR/JPY and the possibility of some downside action following a break of a 4 hour...
USDJPY stays above a rising trend line
USDJPY stays above a rising trend line on 4-hour chart, and remains in uptrend from 80.58, the fall from 84.17 is treated as consolidation of...
Eur/usd hits session highs above 1.4040
Eur/Usd is currently grinding out new highs for the day above 1.4040. So far it hasn’t been a stellar ascent more of a relentless grind higher, the absence of any selling interest in the 1.4030/40 area, unlike last time, has emboldened a few bidders to aim for the next level of offers at...
Oh no! Another Canadian election?
I doubt it. Canadian voters have been to the polls more than the Italians in recent years and have very little appetite for a return trip. Nonetheless, the Liberals are threathening to bring down the Tories unless they relent to demands for amended jobless benefits. Just one more layer of risk,...
Automakers join Realtors in calling a market bottom
GM says the bottom of the car market comes this spring. The NAHB said the same about housing earlier today. Hope they are right EUR/USD is firm, as are equities. EUR/USD trades at 1.4315 while the S&P is up...