Interesting that it took a simulative Fed statement on tapering coupled with a rates outlook to give the Dollar Index (DXY) its biggest gain d/d since August.
Aussie Dollar -1.3% today and -2.5% over 2 days as commodity currencies will remain to be sold in this higher growth environment despite their linkage to growth.
As we begin day 15 of the U.S. government shutdown headlines are suggesting congress could be nearing a deal to kick the can down the road early next year.
The U.S. dollar continues to remain under pressure since the Federal Reserve decided not to begin unwind its $85 billion monthly asset buying program.
For the short term the crisis in Syria has been put on the back burner until congress returns from vacation putting the Federal Reserve’s starting point for the start of unwinding its $85 billion stimulus program.
I wanted to give everyone a quick market update as we go into the 3 day weekend. The U.S. dollar is catching a bid higher on upbeat U.S. economic data.
This morning I wanted to provide a quick update in the currency markets. As we approach Wednesday’s Fed statement U.S. dollar is remains under pressure against the majors.
The U.S. dollar begins the week lower on what will be wild ride as traders digest high impact economic data, FOMC Statement and topping off the week will be Friday’s non-Farm Payroll report.
The U.S. dollar moves higher and holds its own in the European session in subdued trading this morning. Typically during the summer months the FOREX market is subdued with lighter volume and smaller daily moves and is subject to temporary moves during a particular session on headlines.
U.S. dollar update. With Portugal being Greece and Greece being Greece, and Egypt being Egypt, and