After ending last week in depressed fashion, risk sentiment took another knock this morning after reports that a magnitude 6.0 aftershock shook Christchurch in New Zealand causing unspecified damage to the city centre. Understandably, NZDUSD plunged from 0.8215 to low 0.8100 levels; with the price action exacerbated by the Australian public holiday and generally poor [...]
The Dollar a major reversal of most markets occurred last week with commodities cleaned out and speculators forced to close long positions. Silver plunge 15% and Oil over $15 a barrel in a major rout. US Jobs where strong and help stock markets to bounce on Friday in a drama filled week which began with [...]
The week began with a market swoon after S&P announced that it was placing the US on negative watch. Standard & Poors Ratings Services Inc. cut its outlook on the U.S. to negative, increasing the likelihood of a potential downgrade from its triple-A rating, as the path from large budget deficits and rising government debt [...]
Here are the top 3 things that could affect how currencies trade this week in order of importance: 1. U.S. Retail Sales Report The most important event risk this week is the U.S. retail sales report. Concerns about the sustainability of the U.S. recovery and the degree of consumer spending has been one of the [...]