July 24, 2012
If risk is off and it don't look good, who ya gonna call? The Greenback! Thanks to uncertainties in the euro zone, risk aversion propped the U.S. dollar up against most of its counterparts yesterday. Read on to find out what's in store for the Greenback today.
Although the U.S. didn't release any data yesterday, the Greenback found support from ongoing euro zone debt concerns. Apparently, another major Spanish city is rumored to need financial assistance from the government as the debt crisis in Spain grew worse. Make sure you check out my euro zone commentary for the rest of the details!
There aren't any top-tier reports due from the U.S. today, but don't forget that Fed Chairman Ben Bernanke is set to give a speech at 12:45 pm GMT. Even though we've probably already heard most of what Big Ben has to say during his testimonies last week, it'd be best to prepare for additional volatility just the same. Make sure you set those stops right if you're trading the dollar pairs!
"The only cable I watch is the pound baby."