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The US dollar fell for another week as the panic seen early in the money continues to unwind. Will this weakness come to an end? The EU economic summit, rate decisions in Canada, Japan and New Zealand and US housing and employment figures are the major events this week. Here is an outlook on the main market-movers awaiting us.

Last week The Philly Fed Manufacturing Index scored +8.7 points unlike predictions for a negative reading of-9, a good sign of recovery after the serious 30.7 drop in September. Nevertheless, all eyes are turned to Europe and the EU Summit this Sunday and a follow up later on.

Read the rest of the article [B][I][URL="http://www.forexcrunch.com/forex-weekly-outlook-october-24-28/"]Forex Weekly ...

Euro dollar continues to trade choppily in a smaller range within the channel. Discussions about the crisis strategy aren’t fruitful yet, and the leaders are still scrambling to get something done, perhaps for a second summit afterwards. The calendar is relatively light, but will some news about a comprehensive solution break before the week ends?

Here’s a quick update on technicals, fundamentals and what’s going on in the markets.

Read the rest of the article [B][B][I][URL="http://www.forexcrunch.com/eurusd-oct-21-remains-in-channel-as-summit-headlines-remain-confusing/"]EUR/USD Remains in Channel as Summit Headlines Remain Confusing[/URL][/I][/B][/B]

Public Sector Net Borrowing in the UK and CPI in Canada are the major events this day. Here is an outlook on the market-movers awaiting us.

In the US, Narayana Kocherlakota, Federal Reserve Bank of Minneapolis President, is about to speak in Minneapolis.

Later in the US, Janet Yellen, Federal Reserve Governor, is due to lecture in Denver.

Read the rest of the article [B][I][URL="http://www.forexcrunch.com/forex-daily-outlook-%E2%80%93-october-21-2011/"]Forex Daily Outlook – October 21 2011[/URL][/I][/B]

The Philly Fed Manufacturing Index scored +8.7 points, far better than -9 that was expected. US Existing Home Sales rose to a pace of 4.91 million, only marginally lower than 4.94 that was predicted. The big surprise in the Philly Fed Index improves the mood in the markets only temporarily.,The markets remain obsessed with every headline from the European debt crisis.

EUR/USD bounces off lows but doesn’t really recover. GBP/USD, AUD/USD also edge up as “risk currencies” gain minimal strength.

Read the rest of the article [B][I][URL="http://www.forexcrunch.com/philly-fed-manufacturing-index-turns-positive-mood-improves/"]Philly Fed Manufacturing Index Turns Positive But Markets Focus on Europe[/URL][/I][/B ...