Thursday July 14, 2005 - 04:38:22 GMT
Share This Story
Tricom Futures and Foreign Exchange -
Forex: If you say you know what's happening in this market, you're lying!!
The market's been more confusing than usual this week. Starting with Monday and Tuesday, we saw the USD sell-off and EUR and GBP rally strongly. Then just when we thought the USD slide might continue for another 100 points, the market turns around and regains some of its lost ground. Similarly, the EUR stopped at 1.2240, and GBP at 1.7780 early in the European session. It was like they stopped dead in their tracks, and suddenly the market decided to go in the opposite direction, for no apparent reason.
The USD strength later on can be explained by the better than expected Trade data, but again we saw the GBP fall down to around 1.7530, before it rallied 100 points to close around 1.7630. It's all too tricky, for this little ducky!!!
Today, we have US CPI and retail sales, and while the numbers should be USD supportive, they rarely come out too far away from expectations, so i expect the reaction to be fairly uneventful. Given the whippiness of the price action this week, i'm happy to let the market do its own thing for the remainder of the week, and take a fresh look at it on Monday. Also, keep in mind that we are approaching the main part of the Northern Summer holidays, and thus volume and activity will start to drop away.
Today’s Economic Releases:
US: Retail Sales
Today’s Top Trades
· Buy AUD/NZD around 1.1100-10
For more ideas send me an email, firstname.lastname@example.org
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."