The rejection of the $700B bailout plan by the House of Representatives came completely out of the left field, driving a knife through both US equities and the US dollar. For the Bush Administration, it certainly feels like they are moving one step forward and taking two steps back but the severity of [...]

Posted in Bernanke, Bloomberg, British Pound, Crude Oil Prices, Currency forecasts, FOMC, Fed Rate Cut, Fed Rate Cut Expectations, Forex News, Forex Podcast, US Dollar, VIX, bank safe, consumer confidence, euro, forex blog, us earnings, usd/jpy No Comments »

The eyes of everyone from investment managers to stock and currency traders were glued to testimony of the 3 biggest players in the latest financial crisis. US Treasury Secretary Paulson, Federal Reserve Chairman Ben Bernanke and SEC Chairman Cox urged the Senate Banking Committee to approve their request for $700B of taxpayer money. Instead [...]

Posted in Bernanke, Currency forecasts, Dow, Fed Rate Cut Expectations, Federal Reserve, Forex News, Oil, dollar rally, euro, fannie mae freddie mac, forex blog, oil dollar, paulson 2 Comments »

The volatility that we have seen in the currency, stock and bond markets this past week has not been for the faint of heart. The Dow Jones Industrial Average fell 500 points on Monday, but instead of continuing lower over the course of the week, it staged the biggest 2 day rally in 5 [...]

Posted in Bank of Canada, Bank of England, Bernanke, Bloomberg, Currency forecasts, Dow, Durable Goods, Fed Emergency Cut, Fed Rate Cut, Fed Rate Cut Expectations, Fed rate hike, Forex, Forex News, Forex Podcast, G7 meeting, USD/CAD, dollar earnings, dollar rally, euro, fannie mae freddie mac, forex blog, usd/jpy No Comments »

My team at DailyFX just published our third quarter currency market forecasts. Definitely worth a read:
EUR/USD (Link to Fundamental and Technical Outlook)
- Oil is Determining Fed Policy
- Federal Reserve: A Third Quarter Rate Hike?
- When Will the US Consumer Buckle?
- Labor Market: String of Job Losses Set to Continue
- The US Dollar At or [...]

Posted in Australian Dollar, British Pound, Canadian Dollar, Currency forecasts, Japanese Yen, New Zealand dollar, euro 1 Comment »