U.S. Dollar Crushed This Week after Fed Hints at More Economic Aid
The U.S. Dollar finished sharply lower this week after the Fed strongly hinted that it would provide more aid to prevent the economy from derailing. Foreign currency investors reacted as if the Fed had given them the green light to sell the Dollar, delivering a crushing blow to the greenback against all major currencies.
USD JPY Testing Major Support Cluster This Morning
Investors to Focus on Private Sector Hiring This Morning
Let’s take a look at today’s U.S. Non-Farm Payrolls Report. The big picture still suggests we are in a jobless recovery. The focus of today’s report will be on the private sector. An anemic jobs number is likely to cause companies to continue to conserve cash and refrain from hiring.
One key factor that remains a major concern is the high level of the weekly jobless claims number.
E-mini S&P 500 Holds 1037.00 Overnight; Is This the Line in the Sand?
Dollar Likely to Get Direction from This Week’s Central Bank Meeting
The U.S. Dollar is trading mostly lower versus most major currencies overnight with the exception of the Japanese Yen. Following last week’s news driven rally, Dollar traders may choose to stand on the sidelines or lighten-up positions during the two days leading up to the Fed FOMC meeting on January 27.
U.S. Dollar posted a strong gain after bearish economic reports this morning
The U.S. Dollar posted a strong gain after bearish economic reports this morning triggered a massive sell-off in U.S. equity markets. Investors were encouraged to dump higher yielding assets for the safe haven Greenback. Two different reports indicated a drop in consumer spending and sentiment. U.S.
This Week’s Forex Price Action Indicates Dollar is ready to Rally
The strong recovery in the U.S. Dollar late in the week and the inability to break it sharply lower could be a sign that a short-covering rally is imminent. Rumors the Fed may begin to raise interest rates earlier than expected, a poor U.K. economy and fear of intervention all helped boost the Dollar on Friday.