The Dollar continues to hold a competitive advantage over most major currencies and remains a safe-haven destination of choice, so it may take an Initial Jobless Claims reading above the 300,000 level to take prices…
From the overnight session, the aussie is up 32, the pound is up 13, the Canadian is up 8, the yen is down 63, and the dollar is 4.
The results of Election Day have led to some confidence in regards to the U.S. dollar, which hit a seven-year high against the yen on Wednesday.
Soybeans and soybean meal has lead the grain markets higher these past few weeks due to tight soymeal supply, US rail logistic issues, slow US harvest, and adverse South American weather.
The U.S. dollar fell for the fourth straight day as evidence of an unsteady U.S. economic recovery dampened expectations for an increase in interest rates next year.
This weekly feature examines chart formations, along with technical indicators, of two to three commodity markets. Breakouts of these formations may lead to trading recommendations published by the Trade Spotlight advisory service.
For today’s trading session, slowing economic growth concerns, a measure stress seen in U.S. Treasury markets, Ebola fears, mixed corporate earnings flow and disinflation fears keep the bear camp in control.
For today’s trading session maintain the option positions in the Canadian Dollar.
For today’s trading session maintain both option positions in the Dollar and Canadian Dollar.
In fact, seeing Euro zone producer prices in August contract again simply highlights an environment where the Euro needs to move even lower until the exchange rate allows the Euro zone to borrow strength from its trading partners.