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Volume 1, Issue 23
The risk aversion drive that has gained since July slowed significantly last week, the $DXY dollar index made highs at 79.84. The greenback is not the typical safety asset. Rather, the benchmark requires a nearextreme level of fear to leverage its universal appeal: liquidity. If one is looking for liquidity then the US Dollar is where they go. Without an absolute shift in capital away from leverage and risky positions, there is little that the dollar can do to draw capital in. What we need to ask, is this a key reversal to further gains in the near future for the world reserve currency or are we going to be looking at a reversal from this rally back down for further declines? Well it is difficult to tell at the moment, we have the FOMC meeting minutes this week which will give key indication if the Fed will be taking further QE measures to help void a recession. If we do get more QE measures then we will likely see the US Dollar continue to pullback to further levels from this current move up from record lows. Also the Fed's release of Operation Twist will have some updates come Wednesday during minutes release. The EURO lost it's gains to highs from last week after the downgrades that occurred Friday. Although rates remained on hold at
Volume 1, Issue 23
Volume 1, Issue 23
Volume 1, Issue 23
Monday: EUR: French Industrial Production 2:45am EUR: Sentix Investor Confidence 4:30am AUD: NAB Business Confidence 8:30pm
Tuesday: EUR: ECB President Trichet Speaks 3:30am GBP: Manufacturing Production 4:30am CAD: Housing Starts 8:15am AUD: Home Loans 8:30am
Wednesday: GBP: Claimant Count Change 4:30am EUR: Industrial Production 5am USD: FOMC Meeting Minutes 2pm EUR: ECB President Trichet Speaks 2:30pm AUD: Employment Change 8:30pm AUD: Unemployment Rate 8:30pm
Thursday: CNY: Trade Balance EUR: ECB Monthly Bulletin 4am CAD: Trade Balance 8:30am USD: Trade Balance 8:30am CNY: CPI 10pm
Friday: G20 Meeting EUR: CPI 5am USD: Core Retail Sales 8:30am
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James Putra
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info@eliteglobaltrader.com
The Premier Algorithmic Trading Technology Firm
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