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The forex trading week was shortened by a U.S. holiday, which withdrew liquidity from the market and intensified price action. It was perhaps not the best time for sovereign debt worries to strike financial markets, as the bullish, risk-happy opening to the week dissolved into a risk-averse sell-off by Friday close. Australia’s 3Q2009 capex worried [...]
In a light data week, the forex trading market opened on a strong note but was rocked midweek by risk aversion and protectionism from emerging economies fighting currency appreciation. Dealer chatter discussed a global and particularly U.S. economic “stall zone” as effects of government stimulus schemes wane. addthis_url = ‘http%3A%2F%2Fforextradings.com.au%2F2009%2F11%2F23%2Fin-a-light-data-week-the-forex-trading-market-opened-on-a-strong-note%2F’; addthis_title = ‘In+a+light+data+week%2C+the+forex+trading+market+opened+on+a+strong+note’; addthis_pub = [...]
Yet another week of consolidation and fidgety investors. Gold hits new historic highs above $1,118 yet EUR/USD cannot hold gains above 1.5000. The Australian economy gained 2.9K fulltime jobs and 21.5K part-time ones, with the October unemployment rate ticking up to 5.8%. October NAB business confidence improved to 16, business conditions to 12, but November [...]
A mixed data week left the forex trading market jittery and undecided. The U.S. dollar could not break key resistance levels and remained rangebound. Gold topped $1,100. The RBA raised rates 25bps to 3.5% and increased GDP forecasts. October PMIs printed 51.7 manufacturing, 54.8 services, and 50.9 construction. October inflation expectations eased to 1.2% y/y, [...]
The long-expected correction snagged on a reversal Thursday from the better-than-expected U.S. GDP print, which hit its own reversal Friday as risk aversion again entered markets. The S&P scored negative for the first time since February, USD and JPY gained ground, and the VIX volatility index gained 24%. Australia 3Q2009 NAB business confidence surged to [...]
