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By Chip Hanlon, greenfaucet.com

Yes, that Ann Coulter. Love her or hate her, I think we actually cover some parts of her new book that other mainstream media outlets haven't discussed during her promotional tour. Just dial back your get-offended-o-meter and give the latest episode of Market Neutral a listen.

One of the dominant features of the first month of 2009 has been the severe misalignments apparent in European exchange rates. It is possible to construct arguments as to why each of the individual currencies should be “very weak” or “very strong” but it seems more likely that the levels are “wrong” (as was the case with the USD and JPY at the start of last year).

Within the major European currencies, the Norwegian and Swedish currencies appear unsustainably low. The SEK, which has never rebounded from the sharp drop in the aftermath of the 1992/93 ERM collapse, fell very sharply in the final months of 2008 and reached a record low in trade-weighted terms.

Despite having risen in recent weeks, SEK is still ...

Attached Files

• Penrich FX Note 2009 01 27.pdf (20.8 KB, 188 次查看)

Overnight Asia/Europe

• USD initially stronger but reverses into European trade
• S/R holds as expected, UK and German data helps pressure
• Semi-official and CB interest on the buy side of EURO

Today’s Economic Reports
All times EASTERN (-5 GMT)

• 9:00am USD S&P/CS Composite-20 HPI y/y
• 10:00am USD CB Consumer Confidence
• 10:00am USD Richmond Manufacturing Index

Looking Ahead to Wednesday
All times EASTERN (-5 GMT)

• 10:30am USD Crude Oil Inventories
• 2:15pm USD FOMC Statement
• 2:15pm USD Federal Funds Rate
• Day 1 ALL WEF Annual Meetings

Summary

The USD is on the ...

[SIZE="5"]EUR/USD - Euro Dollar[/SIZE]
1,3188. EUR USD is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. The consolidation should continue. The price should continue to move in Bollinger bands.
[INDENT][B]Resistances[/B]
1,3290 - 1,3350
[B]Supports[/B]
1,3095 - 1,2950[/INDENT]more information on [URL="http://www.mataf.net/en/forex-eurusd.htm"]EUR/USD - Euro Dollar [B]Click Here[/B][/URL]
[CENTER][IMG]http://www.mataf.net/section/devises/page/images/eurusd.png[/IMG][/CENTER][SIZE="5"]GBP/USD - British Pound Dollar[/SIZE]
1,4091. GBP USD is in a consolidation after the last ...