It was an unusual ending to an otherwise volatile week for the US dollar. After a slow recovery from the liquidity lull of the extended Independence Day holiday, momentum never really gained traction. Not only did the dollar struggle for direction, but underlying risk appetite trends were similarly left to drift. The market’s focus was [...]
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The dollar suffered its worst weekly performance in a month. What initially looked like a promising open to the period, quickly turned into a dramatic decline for the struggling greenback as the few fundamental compliments for the currency have failed to gain traction. Despite the potential indirect benefit the dollar could garner from uncertainty surrounding [...]
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The dollar suffered a sharp pullback this past week; and it seems that the fundamental drivers behind this effort were relatively week. This speaks to the general malaise of the greenback. In the week ahead – lined with US NFPs, GDP reports, rate decisions and other fundamental themes – we could very well see a [...]
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It was an appropriate way to end the week and month. The tattered US dollar slid to its lowest level on a trade-weighted basis since July 30th, 2008 – fully erasing the safe haven premium the currency had built up through the collapse of the housing crisis and the subsequent global financial crisis that followed. [...]
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In the week ahead, the dollar, euro and pound face the greatest event risk. With the BoE and ECB rate decisions and US NFPs on deck, will EURUSD and GBPUSD move onto the next leg of their bull trends? Read More GBPUSD and EURGBP Focus on ECB and BoE Rate Decisions, Tempered Expectations for NFPs
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Through the European trading session and into the early New York hours, it seemed as if the dollar was on pace to finally produce the meaningful bullish breakout that would feed into an overdue reversal. All the pieces were falling into place for the greenback itself. With unusual risk-based pairs like USDJPY and USDCHF already [...]
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This past week ended with something of a fizzle as the market seemed to absorb the US employment data with little interest in how the data alters the potential for relative growth, US rates or risk appetite trends. However, the data carries more weight in all three of these categories than one would assume given [...]
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Read More US Dollar Will Follow Fed Speeches, NFPs for Stimulus Clues
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Though liquidity was winding down quickly into the close of the week, we would nevertheless see a significant shift in the traditional market gauges for risk appetite Friday. With the help of a dubious nonfarm payrolls (NFP) report, risk appetite would start climbing before the US exchanges came online. Read More Dollar Edges Lower as [...]
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Read More The FX Market has now Entered the Pull of Friday NFPs
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