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Forex Commentaries

By Hans Nilsson*

USD Consolidates Gains at Yearend

Hans Nilsson2009-12-30

The dollar traded mixed in light December 30 trading. The ISM Chicago PMI rose to its highest level since January 2006, fueling optimism of US manufacturing expansion. The S&P 500 edged 0.22 points higher to 1,126.42.

Dollar Gains on Safe-Haven Flows

Hans Nilsson2009-12-29

The dollar reversed overnight losses and gained modestly against other key currencies after Moody's downgraded Abu Dhabi Commercial Bank on Tuesday. The greenback was supported by further signs the US economy is steadily recovering and speculation the Federal Reserve will begin removing stimulus earlier than expected.

Dollar Consolidating Gains

Hans Nilsson2009-12-28

Consolidating its recent strong gains, the dollar traded modestly lower in light Monday trading. US holiday retail sales grew 3.6 percent y/y, SpendingPulse said. The S and P 500 rose 1.30 to 1,127.78, struggling to penetrate the important 1130 resistance.

Dollar Consolidates Gains Before Christmas

Hans Nilsson2009-12-23

Consolidating its recent strong gains, the dollar fell on Wednesday as investors took profits before the Christmas holiday. US personal income and spending rose slightly less than expected in November while new home sales unexpectedly decreased 11.3% m/m.

GBP/USD Testing 200-Day MA Support

Hans Nilsson2009-12-22

The dollar rose against most major currencies on Tuesday. The highest US existing home sales since early 2007 supported the dollar and stock prices despite a downward revision in Q3 2009 US GDP.

USD/JPY Gains on Dovish BOJ Comments

Hans Nilsson2009-12-21

The dollar was mostly higher versus other key currencies in light pre-holiday trading on Monday. The greenback rose in tandem with stocks and interest rates on recovery optimism and speculation that the Federal Reserve will normalize rates sooner than earlier thought.

Dollar Rally Continues

Hans Nilsson2009-12-18

The dollar traded mixed on Friday following one of the best weeks for the year. The greenback rose against the euro, pound and yen but consolidated gains against the Swiss franc, aussie and loonie. A strengthening US economic recovery, European credit worries and Japanese deflation problems supported the USD.

USD/CAD Turns Bullish

Hans Nilsson2009-12-17

The dollar gained on Thursday as risk aversion increased and global stocks fell. The dollar index rose to its highest level in three months. The S&P 500 fell 13.10 to 1,096.08. Supported by carry-trade unwinding, the yen rose modestly versus the dollar and rallied against other key currencies. The euro fell and broke the 1.45- area support amid concerns over the financial situation in Greece and other European nations.

Is Aussie Rally Over?

Hans Nilsson2009-12-16

The dollar rose on Wednesday. The Federal Open Market Committee repeated its pledge to keep interest rates exceptionally low for an extended period and said the US economy is strengthening and the labor-market deterioration is “abating.” US consumer prices increased modestly and housing starts rose strongly.

Yen Will Become Preferred Funding Currency Again

Hans Nilsson2009-12-15

In NY trading Tuesday, the dollar rose against its rivals on European credit worries and stronger-thanexpected US economic data. US industrial production and producer prices climbed more than anticipated, increasing speculation the Federal Reserve will discuss its exit strategy and possible interest-rate increases. The S&P 500 declined 6.18 to 1,107.93.

Fed May Hike Rates Earlier Than Expected

Hans Nilsson2009-12-14

The dollar fell as risk appetite and stocks rose after Abu Dhabi bailed out Dubai. The greenback consolidated its last-week gains on stronger-than-expected US labor conditions. Improving economic figures have increased speculation of an earlier-than-expected withdrawal of monetary stimulus.

The Return of Greenback

Hans Nilsson2009-12-11

The dollar rallied on Friday despite higher equity prices. Stronger-than-expected US retail sales and consumer confidence boosted economic recovery optimism. The strong correlation between good economic news/rising stock prices and a falling dollar may be ending.

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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.