Monday October 3, 2005 - 06:46:12 GMT
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Tricom Futures and Foreign Exchange -
Forex: The USD starts the new week on the front foot
The dollar rallied to a 16-month high against the yen on Monday, boosted by expectations for more Federal Reserve interest-rate rises and a disappointing tankan survey of corporate sentiment in Japan.
Riding a wave of broad support, the dollar also rose to a three-month peak against the euro and two-month highs versus sterling and the Swiss franc.
The Bank of Japan's quarterly tankan survey of business confidence was plus 19 for September, up a tad from the June survey but slightly below financial markets' expectations for a reading of plus 20.
Going into the European session, the EUR has rebounded slightly from the early weakness, but remains under pressure.
Little out interms of economic data today, most attention will be on Friday's US employment data.
Today’s Economic Releases:
US: ISM Manufacturing
US: Factory Orders
Today's Top Trades
. Sell EUR/USD around 1.1980, with stops above 1.2010
For more ideas send me an email, [email protected]
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