Thursday January 19, 2006 - 05:34:25 GMT
Share This Story
Tricom Futures and Foreign Exchange -
Forex: These days, a long-term view means looking 24 hours ahead
The US dollar was trading mixed against the major currency pairs early today, but is expected to trade around current levels as investor appetite falls for equities and other assets. The US dollar fell modestly overnight in volatile trading, with most focus on the headline US consumer price index data for December falling slightly from market expectations of a modest rise.
US headline CPI for December fell 0.1 pct following a 0.6 pct fall in November but the data was below market expectations of a modest 0.2 pct rise.
The Federal Reserve's Beige Book noted the economy kept growing in late November and December with moderate wages growth and stable retail prices.
This market is just bubbling along, and on the verge of breaking out. Which way is the big question. And unfortunately, I don't have the answer. Also, I don't think it's going to be a clean break, but rather just move into a new trading range. We have alot of EU data out today, nothing of much consequence, but sure to keep the EUR chopping around between 1.2070-1.2130.
Today's Economic Release:
US: Weekly Jobless Claims
US: Housing Starts
US: Philly Fed
Today's Top Trades
- Buy EUR/USD around 1.2070, with stops under 1.2020. Alternatively, buy a break above 1.2180
For more ideas send me an email, [email protected]
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."