It’s a particularly quiet day ahead on the economic calendar. U.S consumer confidence figures will draw plenty of interest later in the day, however.
The US dollar has rallied a bit against the Japanese yen during the trading session on Monday to kick off the week with a positive attitude.
The British pound has rallied just a bit during the trading session on Monday against the Japanese yen as we continue to see this market push a bit higher.
The direction of the December U.S. Dollar Index on Monday is likely to be determined by trader reaction to 93.580.
German business sentiment figures put the EUR in focus, with BoE member chatter leaving the Pound in the hands of any forward guidance.
The British pound has initially shot higher during the course of the week, only to turn around to show signs of exhaustion. The resulting candle is a shooting star.
The British pound has initially tried to rally during the course of the trading session on Friday, but then gave back gains as we are simply far too overextended.
The US dollar initially tried to rally during the course of the week but gave back gains as we had gotten far too overdone.
The US dollar has drifted just a bit lower during the course of the trading session on Friday, as we continue to see the market digest the massive gains that we have seen.
It’s a busier day ahead on the economic calendar. Prelim private sector PMIs for October will be in focus. Price pressures and deliveries will be key areas of focus alongside hiring…
Global stock indexes were down slightly on Thursday as U.S. technology shares fell along with IBM, while risk-sensitive currencies including the Australian dollar weakened. The Japanese yen gained as investors sought safety, while oil prices fell sharply. U.S. Treasury yields rose as investors focused on when the Federal Reserve will raise interest rates after it has finished tapering its massive bond buying program.
The US dollar has gone back and forth during the course of the trading session on Thursday, as we continue to see a lot of back and forth action.