Long term, I’m still bullish on the dollar. Non Farm payrolls came in lower than expected - although US the jobless rate hit a 26 year high. All of us traders need to be aware that the commodity dollars are still beating up on the USD short term. Risk appetite is outpacing technical/fundamental analysis for the beginning of the week. Look for the BoE and RBNZ announcements later in the week. Could be a driving force - and as always, the commentary is more important than the actual decision. Listen up!
Pre-recession the dollar was losing ground as the economy performed well, and then gained in value as the recession and credit crisis set in. Don’t you think we may see the dollar start to weaken again as the economy recovers into positive growth?
The USD was the weakest of the major currencies as it fell to its lowest level against the Euro and strong trading by the precious metal put additional pressure on the USD�
the USD drops. I may just start trading off of Geithner, Trichet and the other harbingers of doom. Just mentioning their names makes currencies drop. Whoops, there goes the USD again.
Finally the USD was able to pick up some lost ground today, as risk aversion in equity markets lent the greenback some support.
I don�t know if this kind of uptrend will stay, I guess events such as retail sales, consumer prices and TICS could be the market movers for this week.
I now know why its called the BeaSt