Market analysts at FXCM note while the Euro crisis appears to be deepening there is scope for the euro to continue enjoying a relief rally.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
Danske Bank’s forex team suggests the US dollar is set to break out against the yen, with the BoJ providing a safety net for the trade.
Concerns over Chinese financial integrity and a weak trade balance added to a poorly received result from JP Morgan last night. But Wall Street remained resilient. Dow down 40.
The EFSF is now officially a reality but Wall Street bounced off the top of its range last night. Dow up 102.
It was a quiet session on Wall Street ahead of results from Alcoa and Slovakia. Dow down 16.
FOREX.com does not believe this month’s rally is sustainable, predicting USD strength and commodity and equity market weakness into year-end.
Market analysts at FXCM explain the EFSF proposal in Europe, how it compares to the TARP program in the US and how it may affect the euro.
Merkozy’s unqualified declaration of a plan to save Europe was well received offshore last night. Dow up 330.
Market analysts at FXCM suggest the outlook for the Australian dollar remains bearish as the latest RBA comments suggest an increasing willingness to cut interest rates.