U.S. Dollar Trading (USD) with the G20 meeting already underway into the weekend, Friday’s trading session was subdued with slight rallies in equities keeping the USD under pressure. The G20 meeting resulted in a statement supporting a commitment to ‘refrain from competitive devaluation of currencies’. The comments should support the market on Monday with the [...]

U.S. Dollar Trading (USD) US economic data was generally quite positive on Friday and this allowed most risk assets to extend gains and the Dollar weakness to continue into the weekend. September ISM Manufacturing was at 54.4 vs. 54.5 expected. UoM Confidence was at 68.2 vs. 67 forecast. In US stocks, DJIA +41 points closing [...]

U.S. Dollar Trading (USD) strong risk appetite allowed US stocks to rally at the open but the market reversed direction sharply as profit taking into the month end took hold. US Q2 GDP was revised higher to 1.7% vs. 1.6% previously. Weekly Jobless Claims improved to 453k vs. 469k previously. October Chicago PMI increased to [...]

Moody’s downgrades Greek debt to Junk! Markets seemed to shun the fear of an EU wide debt crisis yesterday as global risk appetite picked up. It seems that no news is good news especially when the market was heavily pricing in risks of defaults. With a record number of short positions feeling a little anxious [...]

EUR/USD There was still interest in Euro selling on rallies and the currency retreated to below 1.23 in early Europe on Wednesday as buying support faded. Underlying confidence was also undermined by a relatively weak German bond auction result. There were renewed fears surrounding the banking sector during the day which undermined the Euro. In [...]