It was an appropriate way to end the week and month. The tattered US dollar slid to its lowest level on a trade-weighted basis since July 30th, 2008 – fully erasing the safe haven premium the currency had built up through the collapse of the housing crisis and the subsequent global financial crisis that followed
It is difficult to separate the euro’s strength from the dollar’s weakness. Considering EURUSD is the most liquid currency pair (by a wide margin), the steady pressure on the greenback is a natural source of strength for the European currency.
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- US Dollar Recovery Hopes Hinge on Payrolls data, ECB Rate Decision – Euro Rally at Risk if the ECB Doesn’t Maintain Risk/Return Balance – Japanese Yen At Risk As Speculation For Intervention Resurface – British Pound to Produce Nuanced Response to BoE Rate Decision – Canadian Dollar Bullish as 0.9000 Remains In Crosshairs – Australian Dollar Rally To Accelerate On Higher Growth, RBA To Hold – Kiwi Strength to Continue As Traders Chase Yields – Gold Hits Record Highs on Inflation Concerns, Dollar Weakness
THE US dollar hit a 16-month low against the euro and gold reached a new record after the Federal Reserve held to its easy monetary policy.
In the week ahead, the dollar, euro and pound face the greatest event risk. With the BoE and ECB rate decisions and US NFPs on deck, will EURUSD and GBPUSD move onto the next leg of their bull trends
US Dollar Recovery Hopes Hinge on Payrolls data, ECB Rate Decision Fundamental Forecast for the US Dollar: Neutral US Dollar sinks as GDP misses expectations US Dollar short positions remain attractive as proxy for Crude Oil longs Central bank meetings and US Nonfarm Payrolls dominate event risk in week ahead
NEW YORK: The US dollar recovered slightly against the euro late Friday but not before it hit a 16-month low and sent gold soaring to a new record just shy of $1,570 an ounce.
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Gold Trading price rallies on Fed telling economy remains overall weaker
Gold Trading price makes an Intermediate top at USD 1763 and falls
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