Against the Japanese Yen, the dollar plummeted to a seven-week low at 81.27 yen below the 82.00 level. The dollar fell to a fresh record low versus the Swiss franc falling as low as 0.9337. The Swiss franc continues gaining strength being a safe haven alternative to the troubled euro as it has the advantage of a healthy fiscal state.
The Australian dollar edged higher on Friday helped by rising commodity prices. The high-yielding Aussie rose as high as 1.0189 from 1.0118 dollars. Australia's positive economic outlook with low unemployment, rising commodity prices and expectations of another rate hike in mid-2011 supports the Aussie above parity record high levels.
Gold rallied today rising as high as 1410 dollars an ounce supported by a weaker US dollar. A declining dollar raises demand for the precious metal as it makes it a cheaper bet for investors outside the US.
Currency to watch out for: EURUSD & USDJPY
The EURUSD pivot point is at 1.3250 with a preference to enter into Long positions at 1.3250
The USDJPY pivot point is at 81.85 with a preference to enter Short positions at 81.85
Today's calendar and market movers:
UK Nationwide Housing Prices in December is forecasted to fall 0.2% MoM and 0.3% YoY
Equity Markets:
US equities were mixed on Thursday with the S&P500 down -0.15% and the DJIA unchanged. The European bourses are negative with the FTSE trading down -0.42% and the DAX and the CAC trading down -1.16% and -1.03% respectively.
Risk Appetite Lifts Euro Hours
always every time come front about forex. give idea,suggestion, and best opinion about forex.
The dollar appears weaker on the last day of 2010 as risk aversion is low, trading is thin and moves are exaggerated. On Thursday data showed Jobless claims surprisingly fell and pending home sales rose in November revealing a healing US economy. Good data spurs investors' risk appetite who seek demand for higher yielding bets weighing on the dollar.
The euro edged higher on Friday supported by heightened risk appetite and comments by the German Chancellor Angela Merkel that euro is not just a currency, it is the foundation of the German economy and we must strengthen it. The euro rallied on Friday versus the US dollar hitting a two and a half high at 1.3387 from 1.3223.
Against the Japanese Yen, the dollar plummeted to a seven-week low at 81.27 yen below the 82.00 level. The dollar fell to a fresh record low versus the Swiss franc falling as low as 0.9337. The Swiss franc continues gaining strength being a safe haven alternative to the troubled euro as it has the advantage of a healthy fiscal state.
The Australian dollar edged higher on Friday helped by rising commodity prices. The high-yielding Aussie rose as high as 1.0189 from 1.0118 dollars. Australia's positive economic outlook with low unemployment, rising commodity prices and expectations of another rate hike in mid-2011 supports the Aussie above parity record high levels.
Gold rallied today rising as high as 1410 dollars an ounce supported by a weaker US dollar. A declining dollar raises demand for the precious metal as it makes it a cheaper bet for investors outside the US.
Currency to watch out for: EURUSD & USDJPY
The EURUSD pivot point is at 1.3250 with a preference to enter into Long positions at 1.3250
The USDJPY pivot point is at 81.85 with a preference to enter Short positions at 81.85
Today's calendar and market movers:
UK Nationwide Housing Prices in December is forecasted to fall 0.2% MoM and 0.3% YoY
Equity Markets:
US equities were mixed on Thursday with the S&P500 down -0.15% and the DJIA unchanged. The European bourses are negative with the FTSE trading down -0.42% and the DAX and the CAC trading down -1.16% and -1.03% respectively.
Against the Japanese Yen, the dollar plummeted to a seven-week low at 81.27 yen below the 82.00 level. The dollar fell to a fresh record low versus the Swiss franc falling as low as 0.9337. The Swiss franc continues gaining strength being a safe haven alternative to the troubled euro as it has the advantage of a healthy fiscal state.
The Australian dollar edged higher on Friday helped by rising commodity prices. The high-yielding Aussie rose as high as 1.0189 from 1.0118 dollars. Australia's positive economic outlook with low unemployment, rising commodity prices and expectations of another rate hike in mid-2011 supports the Aussie above parity record high levels.
Gold rallied today rising as high as 1410 dollars an ounce supported by a weaker US dollar. A declining dollar raises demand for the precious metal as it makes it a cheaper bet for investors outside the US.
Currency to watch out for: EURUSD & USDJPY
The EURUSD pivot point is at 1.3250 with a preference to enter into Long positions at 1.3250
The USDJPY pivot point is at 81.85 with a preference to enter Short positions at 81.85
Today's calendar and market movers:
UK Nationwide Housing Prices in December is forecasted to fall 0.2% MoM and 0.3% YoY
Equity Markets:
US equities were mixed on Thursday with the S&P500 down -0.15% and the DJIA unchanged. The European bourses are negative with the FTSE trading down -0.42% and the DAX and the CAC trading down -1.16% and -1.03% respectively.
