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Currency Pair Overview:

Dollar Turns Red On Positive Data

After an active European and early U.S. session, the currency market came to a standstill throughout the second part of the U.S. trading hours. In Monday trade, the currency market broke free from the pattern observed throughout December – the dollar was sold on advancing equity markets. The main question is whether the currency market will be able to continue to sell the dollar on positive news, since right now, investors are pricing in higher inflation rates in the U.S. than in the Euro-area, something that can be seen in the spread between the similar maturity German Bunds and U.S. Notes.

Dollar Index Technical View: TheLFB Member Charts ...

[B]Bias: [/B] I look for losses down to 91.03-27 but then a pullback

Yesterday's early break of 92.68 extended losses to just below 92.24 but then a pullback. I feel the 92.70 area is toppish and most likely we have seen the corrective high already at 92.68. This implies that losses should continue through 91.85-00 and down to 91.27 and possibly 91.03. However, I feel this should be enough for today and the rest of the day should see a recovery higher. Any break of 91.00 would open up a ratcheting move down to
90.78 and 90.28.

Please view the complete analysis in the attached PDF file.

For a full description of how to use the analysis please see the Analysis page of my website. The prior ...

Attached Files

• The Brief Daily Forecaster.pdf (25.2 KB, 128 次查看)

Biggest % gainers: EUR/GBP up 0.42% ...everything else, barely up at all % wise today.

Biggest % losers: (this is where the momentum is today...on the downside). GBP/JPY down 1.34%, CHF/JPY, USD/JPY, AUD/JPY on yen strength.

The CRB Commodity Index (which covers a basket of commodities) hit a new 52 week high yesterday!

Oil $81.42 holding firm due to the unusually strong cold streak sweeping the country, spiking energy demand.
Gold $1,118

Stagflation is an economic trend that arises from increases in inflation and unemployment happening at the same time. It leads to a slowing down of economic activity. (This is what we are likely entering...just like in the 70s).
...

Global Market Wrap:

Global Equities Move Sideways

Equity Futures: Dow -41.00. S&P -0.50. NASDAQ -5.75. Japan Nikkei +42.00. German Dax -3.00

U.S. Trade: The U.S. equity markets closed around the break-even point in Tuesday trade following the weaker than expected U.S. Pending Home Sales report.

Throughout the overnight session, European shares held just in the red-zone most of the time, and the U.S. futures markets managed to hold near the breakeven line. However, this has changed throughout the U.S. trading hours, when the Pending Home Sales report showed that sales fell a 16.00%, being the first decline in almost a year. This had a negative influence among homebuilders, and ...