Online Forex Blog

www.forexmentor.com/cot - In this week's donation, we're going to look back to our forecast on Saturday, February 6th. We were (and ...

Forexserve's Satyajit Kanjilal expresses his prospect on currency, interest rates and commodities fluctuations. He covers all the major ...

Investigation by Pepperstone

U.S. Dollar. Our bias BEARISH, we’ll be looking to sell on rallies.

FUNDAMENTALS : The Greenback closed stoop on Friday at 9,456 on strong risk appetite flows following the flush conclusion to Thursdays EU summit. Additionally, the S&P500 gained 2.2%, the Dow jumped 1.6% and the NASDAQ spiked 2.5% on increased investor poise. Heading into the new trading week, the ongoing debt ceiling debate carries the greatest fluctuate over the U.S. Dollar, but as the deficit ceiling won’t be officially breached until August 2nd, there is still beat for political maneuvering as Democrats and Republicans gain points for sticking to their guns. There is an bloody low probability that this situation ends in a technical default and the likelihood of a solution before the deadline is drugged. A busy U.S. economic calendar this week sees consumer confidence and new about sales reports on Tuesday followed the next day by the core durable goods orders matter. Friday sees the potentially market moving advance 2Q GDP report (1.6% exp vs 1.9% whilom before), with market participants keenly watching for clear evidence of a stronger U.S. money-making recovery
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Source: DailyForex

ByByJoel Kruger, Technical Strategist ; David

Source: DailyFX