Hello, it’s Thursday, July 21, 2011, and I’m Martin Smith with the daily outlook from UFX Markets. The dollar fell across the board after disappointing data on Existing Home Sales came out 4.77M worse than the expected 4.92M. Uncertainty over the US debt ceiling still hovers over the market and halts optimism among investors. Stock [...]
Daily Forex Review Hello, it’s Wednesday, July 20, 2011, and I’m Martin Smith with the daily outlook from UFX Markets. The dollar fell against most of the major currencies as President Barack Obama endorsed a $3.7 trillion debt-cutting plan that would combine tax increases and spending cuts, saying it could end a congressional deadlock over [...]
Hello, it’s Thursday, July 14, 2011, and I’m Martin Smith with the daily outlook from UFX Markets. The Dollar weakened against all the other currencies as Federal Reserve Chairman Ben S. Bernanke said policy makers will provide economic stimulus if needed The Federal Budget Balance came out better than expected, -43.1B vs. -68.0B forecast. Wall [...]
Hello, it’s Tuesday, July 12, 2011, and I’m Martin Smith with the daily outlook from UFX Markets. The dollar strengthened against most of the major currencies as stocks and commodities slumped. Stock Markets closed negative for the second day as the Dow fell by 1.20% and the NASDAQ lost 2.00%. Crude oil dropped to its [...]
Hello, it’s Monday, July 11, 2011, and I’m Martin Smith with the daily outlook from UFX Markets. The dollar traded mixed against most of the major currencies due to a decline in risk appetite among investors and negative economic data. The Non-Farm Payrolls grew at their slowest pace in nine months as unemployment rate rose [...]
USD/CAD: The Canadian Dollar from a technical standpoint is giving every indication it is going to breakout. Price has been consolidating for several weeks. You can see more clearly the consolidation in the Chart below depicted by the orange triangle. Typically we draw a triangle where only one side represents the slope. However, the triangle [...]