The US Dollar has been in sell mode for two days awaited the Unemployment report due Friday at 7:30 AM CST. The US Dollar Index has been under pressure with this week's more positive US Data on Housing and a falling Initial Jobless Claims. The Unemployment Report due out tomorrow can be potentially negative based on our previous 2 reports. Tomorrow, pre-holiday, there are fewer traders typically that can create erratic movements in the markets. Often, we see pre and post holiday exhilaration taking the Stock Market up regardless of the news. Tomorrow, this report is extremely vital to the economic recovery as a whole. President Obama's Team has stated that a second stimulus is not currently in their agenda. With the recovery still the centerpoint of our concerns, the US Dollar has dropped with investors taking positions in other currencies such as the Swiss Franc. The US Dollar is backed by Federal Reserve Bank. Other reports this last week that impacted the marketplace: Consumer Confidence rose to 53.5 in August. Consumer Spending rose. Personal Income rose .2 percent. More importantly, China, Russia and the US reported increased manufacturing. Initial Jobless Claims had fallen. Pending Home Sales of previously owned homes were up. The US Dollar ended today lower at $82.55! While technically bearish now, anticipate a lower trade next week. Should the US Dollar Index cross $83.60, the trend will have turned bullish again. The high this week was $83.405 and the low $82.55. While I speak of the paper assets, one may notice the trend change today in the US T-Bonds. We are pulling back from a top of $136^31. I feel that both of these markets will have tremendous opportunities in potential trades. I also see the inverse relationship between the Gold Market and US Dollar potentially returning. The safe-haven products may at times move together in economic times that breed fear in the marketplace. The ICE Futures U.S. Dollar Index (USDX®), is the international value of the US dollar and the world's most widely-recognized, publicly-traded currency index. By using the Dollar Index, traders can take advantage of moves in the value of the US dollar relative to a basket of world currencies or can hedge their portfolio of assets against the risk of a move in the US dollar in a single transaction. US Dollar Index futures are traded for 22 hours a day on the electronic trading platform of the Intercontinental Exchange (ICE). (more)
Friday, September 3, 2010
The Weekly Gold Digger!
The US Dollar has been in sell mode for two days awaited the Unemployment report due Friday at 7:30 AM CST. The US Dollar Index has been under pressure with this week's more positive US Data on Housing and a falling Initial Jobless Claims. The Unemployment Report due out tomorrow can be potentially negative based on our previous 2 reports. Tomorrow, pre-holiday, there are fewer traders typically that can create erratic movements in the markets. Often, we see pre and post holiday exhilaration taking the Stock Market up regardless of the news. Tomorrow, this report is extremely vital to the economic recovery as a whole. President Obama's Team has stated that a second stimulus is not currently in their agenda. With the recovery still the centerpoint of our concerns, the US Dollar has dropped with investors taking positions in other currencies such as the Swiss Franc. The US Dollar is backed by Federal Reserve Bank. Other reports this last week that impacted the marketplace: Consumer Confidence rose to 53.5 in August. Consumer Spending rose. Personal Income rose .2 percent. More importantly, China, Russia and the US reported increased manufacturing. Initial Jobless Claims had fallen. Pending Home Sales of previously owned homes were up. The US Dollar ended today lower at $82.55! While technically bearish now, anticipate a lower trade next week. Should the US Dollar Index cross $83.60, the trend will have turned bullish again. The high this week was $83.405 and the low $82.55. While I speak of the paper assets, one may notice the trend change today in the US T-Bonds. We are pulling back from a top of $136^31. I feel that both of these markets will have tremendous opportunities in potential trades. I also see the inverse relationship between the Gold Market and US Dollar potentially returning. The safe-haven products may at times move together in economic times that breed fear in the marketplace. The ICE Futures U.S. Dollar Index (USDX®), is the international value of the US dollar and the world's most widely-recognized, publicly-traded currency index. By using the Dollar Index, traders can take advantage of moves in the value of the US dollar relative to a basket of world currencies or can hedge their portfolio of assets against the risk of a move in the US dollar in a single transaction. US Dollar Index futures are traded for 22 hours a day on the electronic trading platform of the Intercontinental Exchange (ICE). (more)
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