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Forex Commentaries

By Hans Nilsson*

Aussie Hits Yearly High

Hans Nilsson2009-09-30

The dollar fell in volatile trading Wednesday. The S&P 500 declined 3.53 points to 1,057.08 but recovered most of earlier losses incurred on a disappointing Chicago PMI report.

EUR/USD Testing Support

Hans Nilsson2009-09-29

The dollar traded mostly higher on Tuesday. The dollar index rose and tested the resistance from its long-term downtrend in the 77-78 area. If this is broken, the dollar will rally. US house prices climbed the most since 2005 while consumer confidence unexpectedly fell.

Greenback Gains Despite Stock Market Rally

Hans Nilsson2009-09-28

The dollar traded mostly higher on Monday despite a US equity market rally. Stocks rose for the first day in five. The S&P 500 climbed 18.60 points to 1,062.98. The USD/JPY recovered overnight losses after Japan’s Finance Minister Hirohisa Fujii, who opposes intervening in the currency markets, stated that he is carefully monitoring the strengthening yen and stable currency moves are desirable.

Yen Rises to 7-Month High

Hans Nilsson2009-09-25

The dollar closed mixed on Friday, sharply lower versus the yen but higher against the pound. The G-20 leaders said they will keep stimulus measures as long as needed and reduce economic imbalances in trade and savings. The G-20 will also raise banks’ capital requirements and force banks to tie bonuses to long-term performance.

USD/CAD Ready for Rally?

Hans Nilsson2009-09-24

The dollar gained for a second day as declines in equity and commodity markets increased risk aversion. US economic figures were mixed. August existing home sales unexpectedly decreased, while initial and continuing jobless claims fell to lower-than-expected levels.

Dollar Holds Support after FOMC Statement

Hans Nilsson2009-09-23

The greenback declined on the FOMC statement but later rose against most major currencies after US equities reversed gains and had a selloff in late NY trading. The Federal Reserve, as expected, maintained the target range for the federal funds rate at 0 to 0.25% and upgraded its economic assessment for the US economy.

USD Testing Critical Support ahead of Fed Decision

Hans Nilsson2009-09-22

The dollar fell versus its counterparts on Tuesday as risk appetite returned after the Asian Development Bank said China and non-Japan Asia will expand faster than earlier expected. The Federal Reserve is unlikely to signal any tightening of its monetary stance when concluding its meeting tomorrow despite a probable upgrade of its US economic outlook.

When Will Dollar Turn Bullish?

Hans Nilsson2009-09-21

After gaining overnight on drops in international equity and commodity markets, the dollar rose on Monday ahead of the FOMC 2-day meeting but later pared gains as US stocks reduced earlier losses. The Federal Reserve is expected to maintain the target range for the federal funds rate at 0 to 0.25% this Wednesday while market participants look for clues on the Fed’s exit strategy.

Oversold Greenback Gains

Hans Nilsson2009-09-18

The dollar rose after finding some support against most major currencies on Friday. Risk aversion increased overnight on Chinese and UK bank worries. Still, the S&P 500 was up a modest 2.81 to 1,068.30 in narrow trading range despite today’s quadruple witching.

Dollar at Critical Support

Hans Nilsson2009-09-17

The dollar traded mixed on Thursday, having tested important technical levels in the crosses. The dollar index tested its 76.00 support before closing little changed at 76.24. US economic figures were mixed. Housing data was slightly weaker than expected while numbers on initial jobless claims and Philadelphia manufacturing were better than expected.

Dollar Index Approaching Critical Support

Hans Nilsson2009-09-16

The dollar fell versus its counterparts on Wednesday as risk appetite increased. US industrial production continued its gain in another sign the US economy is recovering. The S&P 500 jumped 16.13 points to 1,068.76. Continuing its negative correlation with the stock market, the dollar index fell to 76.29, just above the vital 76-handle support.

Sterling Pressured by BOE Governor King

Hans Nilsson2009-09-15

The dollar traded mostly lower on Tuesday as risk appetite increased and US stock price indexes climbed to fresh yearly highs. Federal Reserve Chairman Ben Bernanke said the US recession is "very likely" over but the economy is still weak.

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*Expert Market Commentaries, charts and information are provided by Hans Nilsson of Globicus International, Inc., a registered third party CTA, are intended for educational purposes only and do not constitute trading recommendations.

Past performance is not indicative of future results. Trading OTC Forex on margin carries a high level of risk, and may not be suitable for all investors. Please contact a registered trading advisor if you have any questions.

This report is intended solely for distribution to customers of Capital Market Services, L.L.C. Any information in this report is based on data obtained from sources considered to be reliable, but no representations or guarantees are made by Capital Market Services, L.L.C. with regard to the accuracy of the data. The opinions and estimates contained herein constitute our best judgment at this date and time, and are subject to change without notice. Capital Market Services, L.L.C. accepts no responsibility or liability whatsoever for any expense, loss or damages arising out of, or in any way connected with, the use of all or any part of this report. No part of this report may be reproduced or distributed in any manner without the permission of Globicus International, Inc.