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Forex Commentaries

By Hans Nilsson*

Dollar Gains as Stocks Slump

Hans Nilsson2009-10-30

The dollar and yen ended a volatile week on a strong note on Friday. Risk aversion rose on growing concerns over the financial company outlook and the sustainability of the economic recovery. Personal income and personal consumption were weak as expected and consumer conference declined, but manufacturing activity was stronger than anticipated.

Risk Appetite Surges on Strong GDP

Hans Nilsson2009-10-29

The dollar and yen fell as risk appetite increased after the US economy grew faster than expected. US GDP rose a stronger-than-expected 3.5% in Q3 2009 as personal consumption contributed the most to GDP gains since Q4 2006. Inventory gains were modest and will likely rise strongly next quarter, which should ensure strong Q4 GDP growth.

Dollar Index Downtrend Broken

Hans Nilsson2009-10-28

The dollar and yen rose as risk aversion increased. Norway raised its key interest rate a quarter point to 1.50%, reminding investors that money will not be nearly free forever. US new-home sales unexpectedly declined in September after posting a fifth consecutive gain in August.

EUR/USD Remains in Uptrend

Hans Nilsson2009-10-27

In NY trading Tuesday, the dollar was higher against the euro but lower versus the yen. US home prices continued to improve, but consumer confidence unexpectedly fell for a second month. The S&P 500 index declined 3.54 to 1,063.41.

Greenback Rallies as Risky Assets Fall

Hans Nilsson2009-10-26

The dollar rose on Monday as risk aversion increased. The US 10-year yield climbed above the 3.50% resistance while commodities and stocks declined. The S&P 500 index fell 12.65 to 1,066.95.

Stock Market Correction Could Support USD

Hans Nilsson2009-10-23

The dollar rose on Friday as US stocks consolidated recent strong gains and risk appetite moderated. US existing home sales rose to the highest level in more than two years. The S&P 500 index declined 13.31 to 1,079.69 despite strong earnings from Microsoft and Amazon.

Greenback Pares Gains as Stocks Rise

Hans Nilsson2009-10-22

The dollar pared earlier gains as the US equity market reversed earlier losses on Thursday. The Conference Board US leading economic indicators index climbed for a sixth straight month in September while the US jobless situation deteriorated slightly and US home prices unexpectedly fell.

Greenback Declines Despite Falling Stocks

Hans Nilsson2009-10-21

The dollar fell on Wednesday despite a late selloff on Wall Street. The Federal Reserve’s Beige Book showed weak consumer spending during late summer and early fall. However, “many sectors” of the economy either stabilized or improved modestly the last six weeks.

USD/CAD Surges as BOC Worries

Hans Nilsson2009-10-20

The dollar rose on Tuesday as risk sentiment declined. US housing starts increased less than forecast and producer prices unexpectedly fell, increasing worries about the economic recovery and deflationary fears. US stocks consolidated gains and the S&P 500 index fell 6.85 to 1,091.06.

Aussie at 14-Month High

Hans Nilsson2009-10-19

The dollar fell versus its counterparts on Monday as risk appetite rose and stocks hit new cyclical highs. The Federal Reserve Bank of New York said it is assessing reversed repos to drain liquidity from the financial system is not a sign of an imminent rise in interest rates. US home builder confidence unexpectedly declined in October.

Dollar May Gain on Stock Correction

Hans Nilsson2009-10-16

The dollar rose against most major currencies on Friday as risk appetite moderated and stocks fell. US industrial production rose strongly, but consumer sentiment declined modestly. The S&P 500 index fell 8.88 points to 1,087.68 on disappointing earnings announcements from Bank of America and GE.

Sterling Surges on Possible Quantitative Easing Pause

Hans Nilsson2009-10-15

The dollar traded mixed on Thursday, sharply lower versus the pound and markedly higher against the yen. US consumer-price inflation rose slightly more than expected while initial jobless claims fell to the lowest level since January.

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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.