It’s a relationship that has many FX traders scratching their heads. The Dow Jones Industrial Average has marked a painfully-obvious technical breakdown, and yet the renowned safe haven US dollar is still threatening to collapse into plunge itself. Yet, don’t position for AUDUSD and GBPUSD rallies just yet...
The Euro continues to enjoy a swell of better than expected economic data, yet signs of a nascent recovery across the world’s largest single market have yet to fuel an uptick in the currency. Is the lack of a bullish response by the Euro concerning? We think so.
The Japanese Yen slipped this past week as concerns over ‘Abenomics’ and tax policy heated up as the world’s third-largest country’s debt level jumped past ¥1 quadrillion (roughly $10.3 trillion). Will a new sales tax hurt the Japanese recovery, and if so, what does that mean for the Yen?
The Australian Dollar still looks primed to correct higher but the move may be thrown off-course as speculation about the direction of Fed policy heats up.
Gold surged on Thursday amid a mini-US Dollar crash. With concerns over the Fed’s QE3 taper at an inflection point, we find that Gold might consolidate after such a strong short-term reversal.
Use the DailyFX-Plus Technical Analyzer to identify possible trade setups.
- Australia International News