The US dollar rally triggered over a week ago by ECB President Trichet has been relentless, and as of Friday’s NY close, the dollar index had appreciated to seven-month highs. However, given the extent of the move, forex positioning as measured by FXCM SSI shows that traders are growing less bearish on the currency. Since SSI is a contrarian indicator, the shift suggests that the US dollar could be in for losses soon.
[B]$ US Dollar Could Reverse Gains As Bernanke Speaks Next Week[/B]
[B]€ Euro To Take Its Lead From ECB Rate Speculation[/B]
[B]¥ Japanese Yen: Risks Remain High For Carry-Trade Selloffs[/B]
[B]? British Pound Forecasts Remain Bearish[/B]
[B]C$ Canadian Dollar May Secure Bullish Reversal With Data[/B]
[B]AU$ Australian Dollar Headed For Yearly Low[/B]
