Market analysts at FXCM note the Australian dollar has broken out of its recent trading range against the US dollar, while suggesting the Swiss franc looks likely to break out of its recent trading range.
The Dow closed over 12,000 and S&P over 1300 led by strong global manufacturing and a peaceful protest in Egypt.
Out of left field in January came Egypt. Have I seen this movie before? Dow up 68. (Locked for subscribers until 10:00 AEDST)
Market analysts at FXCM are bearish on the Australian dollar at present given the currency’s correlation with risk appetite.
ATW’s Jerry Simmons observes several USD-leveraged assets are facing fierce overhead resistance.
Jamie Saettele, market analysts at FXCM, maintains the euro is due for a severe correction.
Market analysts at FXCM caution the Australian dollar may be poised to follow the gold price lower.
Market analysts at FXCM have looked at correlations in foreign exchange markets, concluding the Aussie dollar is a good proxy for moves in gold prices.
Market analysts at FXCM continue to suggest the US dollar could strengthen in 2011 but note a shorter-term recovery is unlikely without a turnaround in sentiment.
Currency Strategist John Kicklighter explains how the US corporate results season can impact on FX markets.