Daily Forex Analysis

Daily Forex Analysis Today’s US Dollar Trading • The USD unable to hold gains in NY • Volume a bit better than Friday, stops drive a lot of trade • Oil pushes Greenback around as do equities Overnight Preview • Look for tow-way action overnight • USD may be overextended to the upside so expect downside bias Looking Ahead to Tuesday All times EASTERN (-5 GMT) • 9:00am USD S&P/CS Composite-20 HPI y/y • 10:00am USD Consumer Confidence Index • 10:00am USD New Home Sales • 10:00am USD HPI m/m • 10:00am USD Richmond Manufacturing Index • 2:00pm USD FOMC Meeting Minutes Summary The USD is weaker against the majors to end New York after starting…

Read the Daily Forex Analysis Today’s US Dollar Trading • USD fails to extend overnight strength • Volumes better • Stops close-in result in two-way action Overnight Preview • Look for more two-way action • USD is getting “tired” I think Looking Ahead to Wednesday All times EASTERN (-4 GMT) • 8:30am USD Core Durable Goods Orders m/m • 8:30am USD Durable Goods Orders m/m • 10:35am USD Crude Oil Inventories Summary To finish today the USD is off its highs against all pairs but still in positive territory against EURO and GBP; Forex traders note that volumes were better today but that might have been due to Oil’s wild ride pulling in smaller day-t…

Forex Trading Analysis Today’s US Dollar Trading • USD whipsaws with conflicting data • Traders note volumes thin again • US data inconclusive Overnight Preview • Look for more two-way action • Should get quiet ahead of US data in the morning Looking Ahead to Thursday All times EASTERN (-4 GMT) • 8:30am USD Prelim GDP q/q • 8:30am USD Unemployment Claims • 8:30am USD Prelim GDP Price Index q/q • 10:35am USD Natural Gas Storage Big day for news with our trading partners, expect some whipsaw. Summary The Greenback suffered another day of whipsaw today failing to extend recent ranges in thin trade. For the most part, USD traders are looking ahea…

Read the Daily Forex Analysis Overnight Asia/Europe • USD rallies as commodities drop • Stops drive trade • Japan PM Fukuda resigns Today’s Economic Reports All times EASTERN (-4 GMT) • 10:00am USD ISM Manufacturing PMI • 10:00am USD Construction Spending m/m • 10:00am USD ISM Manufacturing Prices Looking Ahead to Wednesday All times EASTERN (-4 GMT) • 7:30am USD Challenger Job Cuts y/y • 10:00am USD Factory Orders m/m • All Day USD Total Vehicle Sales • 2:00pm USD Beige Book Summary The USD is sharply higher this morning as FX trading gets back to full swing after the Labor Day holiday in the US. Sharp falls in commodity prices most notably Cru…

Daily Forex Analysis Today’s US Dollar Trading • Most of the action was this morning • USD holds gains but weakens into the end of day • Traders note profit-taking bids in the majors Overnight Preview • Likely a bout of short-covering due • Quiet ahead of US data Looking Ahead All times EASTERN (-4 GMT) • 7:30am USD Challenger Job Cuts y/y • 10:00am USD Factory Orders m/m • All Day USD Total Vehicle Sales • 2:00pm USD Beige Book Summary After a strong overnight session the USD held overnight highs across the board failing to extend the current rally during US forex trade today; as expected ISM data came in neutral-to-weaker giving the Gree…

Read the Daily Forex Trading Analysis Today’s US Dollar Trading • USD fails to extend gains • Majors make highs in New York • BOC keeps rates firm Overnight Preview • Look for follow-on selling Looking Ahead to Thursday All times EASTERN (-4 GMT) • 8:15am USD ADP Non-Farm Employment Change • 8:30am USD Revised Nonfarm Productivity q/q • 8:30am USD Unemployment Claims • 8:30am USD Revised Unit Labor Costs q/q • 10:00am USD ISM Non-Manufacturing PMI • 10:35am USD Natural Gas Storage • 11:00am USD Crude Oil Inventories • 1:40pm USD FOMC Member Fisher Speaks Summary After a firmer start the USD has given back some of its gains today after mino…

Daily Forex Analysis Today’s US Dollar Trading • USD rallies after Government bails out housing • USD cuts gains by end of day • Possible head-fake brewing Overnight Preview • Look for the USD to weaken overnight • Should get quiet ahead of US data Looking Ahead to Tuesday All times EASTERN (-4 GMT) • 9:00am USD Fed Chairman Bernanke Speaks • 10:00am USD Pending Home Sales m/m • 10:00am USD IBD/TIPP Economic Optimism • 10:00am USD Wholesale Inventories m/m Summary The USD continued its overnight advance today making fresh highs in most pairs during US trade with the exception of the Yen.Forex traders note that volumes into the highs were light …

Read the Daily Forex Trading Analysis Today’s US Dollar Trading • US data no help for the USD • Volumes patchy at times • Traders say no one wants to play Overnight Preview • Look for the USD to soften overnight • Book-squaring may ignite a short-covering rally in the majors Looking Ahead to Wednesday All times EASTERN (-4 GMT) • 10:35am USD Crude Oil Inventories Light day for US data, heavier overseas. Summary The USD continues to trade two-way today attempting to extend recent gains but turned back from new highs. Traders note volumes have been patchy at times as the major’s attempt a recovery; most pairs unable to rally significantly from Monda…

Daily Forex Analysis Today’s US Dollar Trading • USD rallies a bit but still below recent highs • Gives back some gains in late New York • Volumes lower Overnight Preview • Look for USD to trade softer overnight • Should get quiet ahead of US data in the morning Looking Ahead to Thursday All times EASTERN (-4 GMT) • 8:30am USD Trade Balance • 8:30am USD Import Prices m/m • 8:30am USD Unemployment Claims • 10:35am USD Natural Gas Storage • 2:45pm USD FOMC Member Kohn Speaks Summary The USD continues to advance on low volumes and light stops as the EURO finds a new low for the week at 1.4011; Forex traders note that the Greenback appears read…

Read the Daily Forex Trading Analysis Overnight Asia/Europe • PBOC cuts interest rates • Lehman goes bust • USD falls hard, volatility high Today’s Economic Reports All times EASTERN (-4 GMT) • 8:30am USD Empire State Manufacturing Index • 9:15am USD Capacity Utilization Rate • 9:15am USD Industrial Production m/m Looking Ahead to Tuesday All times EASTERN (-4 GMT) • 8:30am USD Core CPI m/m • 8:30am USD CPI m/m • 9:00am USD TIC Net Long-Term Transactions • 10:00am USD Treasury Sec Paulson Speaks • 1:00pm USD NAHB Housing Market Index • 2:15pm USD FOMC Statement • 2:15pm USD Federal Funds Rate Summary The USD fell sharply overnight driven lo…

Daily Forex Analysis Today’s US Dollar Trading • Financial crisis intensifies as Lehman fails • More bailouts on the table • Volumes dry up after the open Overnight Preview • Look for continued volatility • USD to weaken further Looking Ahead to Tuesday All times EASTERN (-4 GMT) • 8:30am USD Core CPI m/m • 8:30am USD CPI m/m • 9:00am USD TIC Net Long-Term Transactions • 10:00am USD Treasury Sec Paulson Speaks • 1:00pm USD NAHB Housing Market Index • 2:15pm USD FOMC Statement • 2:15pm USD Federal Funds Rate Summary It’s been a wild ride in the markets today from anyone’s perspective; most notably the equities meltdown on Wall Street thanks…

Read the Daily Forex Trading Analysis Today’s US Dollar Trading • As expected, Fed leaves rates on hold • USD recovers a bit as stocks rise • AIG still overshadows market sentiment Overnight Preview • Look for more USD weakness tonight • Two-way trade likely Looking Ahead All times EASTERN (-4 GMT) • 8:30am USD Building Permits • 8:30am USD Current Account • 8:30am USD Housing Starts • 10:35am USD Crude Oil Inventories Summary As expected, the US FOMC held rates steady and barely changed the policy statement today leaving the markets to sort themselves out as traders continue to debate direction of the economy and the health of the financial sec…

Daily Forex Analysis Today’s US Dollar Trading • US data seen as USD-negative • Volumes improve as majors rally • Some new weekly highs as USD wilts across the board Overnight Preview • Look for the USD to continue lower • Whipsaw possible to end the week Summary The USD continued lower across the board today after equities failed to respond positively to government steps taken to restore confidence; DJIA was down over 300 points at mid-day and remained deeply in the red into the final hour of forex trading today. US housing data continued to show weakness in the housing sector but traders were unconvinced that the slightly lower numbers indicate a …

Read the Daily Forex Trading Analysis Today’s US Dollar Trading • US data benign, no help to the USD • Capital infusion seems to calm the markets • Volumes fair Overnight Preview • Look for book squaring • USD to consolidate Looking Ahead to Friday All times EASTERN (-4 GMT) • NONE in the US Summary The USD continued to suffer selling pressure today as concern for the health of the US financial system continues. Traders note that volumes were lighter and at times thinner but for the most part orderly. Most pairs suffered volatility across the board as traders looked to non-USD pairs and risk aversion to balance portfolios. Leading the pack was t…

Daily Forex Trading Analysis Overnight Asia/Europe • USD under pressure starting in Asia • Two-way technical trade with large names on the bid for EURO • Volumes and orders picking up a bit from last week Today’s Economic Reports All times EASTERN (-4 GMT) • 11:30am USD FOMC Member Fisher Speaks Very light day for the USA and for our trading partners; expect quiet trade. Looking Ahead to Tuesday All times EASTERN (-4 GMT) • 10:00am USD Fed Chairman Bernanke Testifies • 10:00am USD HPI m/m • 10:00am USD Richmond Manufacturing Index Summary The USD is lower to start New York this morning as traders and investors await the details of the US bailo…

Read the Daily Analysis Today’s US Dollar Trading • USD goes one way, biggest daily loss in years • Stops and active selling seen • Volumes better later in the day Overnight Preview • Look for follow-on selling • Likely a quieter night as many are sidelined Looking Ahead to Tuesday All times EASTERN (-4 GMT) • 10:00am USD Fed Chairman Bernanke Testifies • 10:00am USD HPI m/m • 10:00am USD Richmond Manufacturing Index Summary The USD bulls got their horns sawed off today as the Greenback is set to have its worst one-day loss since 2001; traders note that ongoing uncertainty with the US bailout of the banking sector, weaker equities in respons…

Daily Forex Trading Analysis Today’s US Dollar Trading • USD rallies in US trade after starting weaker in Asia • Two way technical trade the rule today • Traders note volumes were moderate Overnight Preview • Look for more consolidation • Two-way action likely Looking Ahead to Wednesday All times EASTERN (-4 GMT) • 10:00am USD Existing Home Sales • 10:00am USD Fed Chairman Bernanke Testifies • 10:35am USD Crude Oil Inventories • 2:30pm USD Fed Chairman Bernanke Testifies Summary The USD is slightly better today as traders continue to digest the effects and solutions to the recent financial crisis affecting global trade. Debate is ragin…

Daily Forex Trading Analysis Today’s US Dollar Trading • Traders remain unsure what rate cut means • Volumes remain lighter • “Sharp” buyers seen on both sides Overnight Preview • Look for more two-way action • USD likely to cover a lot of the same ground twice Looking Ahead to Thursday All times EASTERN (-4 GMT) • 8:30am USD Unemployment Claims • 10:00am USD Wholesale Inventories m/m • 10:35am USD Natural Gas Storage • 1:30pm USD FOMC Member Stern Speaks All Day for everybody G7 Meeting. Summary Volatility was the rule of the day today; equities were both sides of unchanged as was oil. The Greenback ended mixed on the day as investor …

Read the Daily Analysis Today’s US Dollar Trading • USD covers the same ground twice in two-way action • Volumes modest • Traders remain focused on bailout options Overnight Preview • Look for the USD to remain two-sided • Potential to rally increasing Looking Ahead to Thursday All times EASTERN (-4 GMT) • 8:30am USD Core Durable Goods Orders m/m • 8:30am USD Unemployment Claims • 8:30am USD Durable Goods Orders m/m • 10:00am USD New Home Sales • 10:35am USD Natural Gas Storage • 1:00pm USD FOMC Member Warsh Speaks • 7:30pm USD FOMC Member Fisher Speaks • 7:45pm USD FOMC Member Plosser Speaks Summary The USD is on the offensive this aftern…

Daily Forex Trading Analysis Today’s US Dollar Trading • Stops and active selling drive majors to new lows • USD/JPY falls to parity • Volumes only moderate Overnight Preview • More follow-on selling expected • USD likely to consolidate Looking Ahead to Tuesday All times EASTERN (-4 GMT) • 11:00am USD FOMC Member Stern Speaks • 1:15pm USD Fed Chairman Bernanke Speaks • 2:00pm USD FOMC Meeting Minutes • 3:00pm USD Consumer Credit m/m Summary Traders are buying USD in size as flight to quality fears pervade a global meltdown in the financial sector. Equities were off over 800 points in late trading as the DJIA drops under the 10,000 level;…

Daily Forex Trading Analysis Overnight Asia/Europe • USD has consolidative overnight • Traders await House vote on TARP • Majors possibly at support Today’s Economic Reports All times EASTERN (-4 GMT) • 8:30am USD Non-Farm Employment Change • 8:30am USD Unemployment Rate • 8:30am USD Average Hourly Earnings m/m • 10:00am USD ISM Non-Manufacturing PMI Looking Ahead to Monday All times EASTERN (-4 GMT) • 1:30pm USD FOMC Member Fisher Speaks Light day across the board for Monday next week. Summary After a strong showing yesterday the USD is slightly weaker across the board this morning as traders await NFP and the House vote on TARP. Despite gener…

Daily Forex Analysis Today’s US Dollar Trading • USD remains range-bound • Traders see two-way action and stops as the main event today • Fundamentals being ignored in favor of rhetoric Overnight Preview • Look for the USD to back and fill ahead of US news tomorrow • Expect current ranges to hold Looking Ahead to Wednesday All times EASTERN (-4 GMT) • 7:45am USD FOMC Member Plosser Speaks • 10:00am USD Pending Home Sales m/m • 10:35am USD Crude Oil Inventories Summary The USD is mixed to end New York after a solid two-way session driven mostly by active buying and selling. Although stops were triggered for part of today’s volatility in most pairs…

Daily Forex Trading Analysis Overnight Asia/Europe • Majors rally on G-7 plan • Governments add liquidity and guarantees • Technical factors assist the major’s rally Today’s Economic Reports All times EASTERN (-4 GMT) • 10:00am USD IBD/TIPP Economic Optimism • 12:30pm USD FOMC Member Plosser Speaks • 2:00pm USD Federal Budget Balance Looking Ahead to Wednesday All times EASTERN (-4 GMT) • 8:30am USD Core Retail Sales m/m • 8:30am USD PPI m/m • 8:30am USD Retail Sales m/m • 8:30am USD Core PPI m/m • 8:30am USD Empire State Manufacturing Index • 10:00am USD Business Inventories m/m • 1:15pm USD Fed Chairman Bernanke Speaks • 2:00pm USD Bei…

Daily Forex Trading Analysis Today’s US Dollar Trading • USD has a technical day, holds S/R • Volumes continue to remain off • Traders remain unsure how to play the bailout Overnight Preview • Look for continued two-way trade • Economic news tomorrow may encourage some USD selling Looking Ahead to Wednesday All times EASTERN (-4 GMT) • 8:30am USD Core Retail Sales m/m • 8:30am USD PPI m/m • 8:30am USD Retail Sales m/m • 8:30am USD Core PPI m/m • 8:30am USD Empire State Manufacturing Index • 10:00am USD Business Inventories m/m • 1:15pm USD Fed Chairman Bernanke Speaks • 2:00pm USD Beige Book Summary The USD had a uneventful day of mo…

Daily Forex Trading Analysis Today’s US Dollar Trading • Two-way trade after the open • US data negative but traders still watching credit • Technical trading finds some stops Overnight Preview • Look for some light follow-on buying of USD, then a fade • Should get quiet ahead of US data Looking Ahead to Thursday All times EASTERN (-4 GMT) • 8:30am USD CPI m/m • 8:30am USD Unemployment Claims • 9:00am USD TIC Long-Term Purchases • 9:15am USD Capacity Utilization Rate • 9:15am USD Industrial Production m/m • 10:00am USD Philly Fed Manufacturing Index Summary The USD is ending the day mixed today after a solid two-way overnight session las…

Daily Forex Trading Analysis Today’s US Dollar Trading • Poor US data fails to inspire a sell-off • Majors tracking equities • Traders continue to focus on financial crisis and not fundamentals Overnight Preview • Look for more two-way action • USD to consolidate again tomorrow Summary It was another volatile day in the US markets today, equities falling off again then whipsawing higher, oil dropping to yearly lows, USD whipping around as well. US data was weak as expected today; some analysts called it “hopelessly bearish” for the US economy. All news today was considered bad for the long-term health of the US economy but sharply lower Philly Fed w…