| Dollar Drop Extends - Consolidation / Reaction Looks Likely (Daily FX) The dollar continues to take a beating but intraday momentum studies are divergent with the new price extremes and short term wave patterns warn of a reaction. The larger trend does remain towards US dollar weakness however. us.rd.yahoo.com |
Currency Crosses: Technical Outlook (Daily FX) The EURJPY and CHFJPY are testing necklines from 7 month head and shoulder tops. These lines may just as well be bullish triangle lines though. In other words, these pairs are at critical junctures and we should have a better idea as to what the next big move will be within a few days. us.rd.yahoo.com |
Existing Home Sales Increase Sharply in October (Daily FX) Sales of Existing Homes in the US rose 10.1% in October to 6.1 million annually. Economists forecast much smaller growth just north of 2% to mark gains for the sixth time in the past seven months. us.rd.yahoo.com |
Dollar gains on hopes for quicker rate hike (AP) The euro dropped below $1.43 for the first time since early September Friday amid ongoing concerns about European banks and public finances and increasing expectations the Federal Reserve will hike interest rates in the first half of the year. us.rd.yahoo.com |
Forex Markets to Face Inflation Reports, Rate Decision by Bank of Canada (Daily FX) Inflation reports will dominate the forex markets this week, as the UK, Canada, and New Zealand will all release their latest CPI results. Additionally, the Bank of Canada is due to announce a rate decision, but traders may only respond to GDP or inflation revisions. us.rd.yahoo.com |