Monday March 20, 2006 - 08:29:26 GMT
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Tricom Futures and Foreign Exchange -
Forex: A slow week of data ahead, brings the charts into play
The US dollar firmed against the yen in early afternoon supported by some commercial demand for the greenback, but the unit was off its highs as players became increasingly unwilling to push the unit up sharply ahead of a speech by Federal Reserve Chairman Ben Bernanke later today.
The Fed chairman is scheduled to speak about "the yield curve and monetary policy" at the Economic Club of New York at 7.00 pm EST today.
A fairly light week on the economic calendar should allow the market to trade off technicals. The USD remains slightly offered, but tonight's Bernanke speech will test the sellers' resolve.
A break above 1.2210 will bring 1.2260 into sight.
Today's Economic Release:
Today's Top Trades
- Sell USD/CHF around 1.2950, with stops above 1.2990, or Sell on a break of 1.2875
For more ideas send me an email, [email protected]
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