Forex Trading Weekly Forecast 01.28.2013
Dollar: Either Greenback or EUR/USD Rally Must Surrender
There was an unusual contrast this past week where the EURUSD advanced to its highest weekly close in 11 months at the same time that the Dow Jones FXCM Dollar Index (ticker = USDollar) ended the period at a 6-month high.
Euro Strength Faces Critical Test – Will it Hit Further Highs?
The Euro finished the week at fresh 10-month highs versus the US Dollar (ticker: USDOLLAR) as the US S&P 500 and broader risky assets surged, and current momentum suggests the Euro could test 2012 peaks near $1.35 in the days ahead.
BoJ Keeps Pressure on Yen; Despite Sentiment Extreme, Sell Rallies
With Shinzo Abe’s fingerprints all over the Bank of Japan, the Japanese Yen may have entered a perpetually bearish state, fundamentally speaking.
Gold Falls as US Dollar and S&P 500 Surge
Gold took a tumble this past week as the dollar and S&P 500 posted complimentary rallies. Moving forward, traders will look to US date to measure risk trends and stimulus demand.
Australian Dollar at Risk as Market Mood Turns Sour
The Australian Dollar appears vulnerable as evidence of slowdown in the US weighs on risk appetite while Chinese PMI data fails to offer lasting support.