Investing.com - Financial Markets Worldwide
🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

Market Wire Update: Swing Point Test On The Dollar. Huge Fundamental Week

Published 12/31/2000, 07:00 PM
Updated 06/29/2009, 01:29 AM

www.TheLFB-Forex.com A Forex Trader Portal

Japanese equity trade has moved lower in afternoon trade, with the Nikkei collapsing 1% and pulling S&P Futures numbers lower to test support at 909.00. Oil and gold markets are lower, but holding support at 68.80 and 935.00; alough they may not be able to easily hold if global equity markets move lower.

As stocks lose value the move to bonds, and relative safety, empowers the dollar and weakens commodities. The oversold 4 hour charts on the dollar on Friday are starting to reverse, and the market mechanics are now backing a continuation of that move to buy the dollar at the start of a very busy week of economics. The daily chart momentum on the majors is benign; there is no really strong sentiment either way on fair dollar value in the big picture.

This may well be the calm before a massive storm as this week brings a very important read on global economics, including regional retail sales, PMI, employment, trade balance, major interest rate decisions, and non-farm payrolls, on a week that also has two bank holiday's thrown in for good measure.

No ranges have been broken or tested that are strong enough to garner market-wide forex reactions, but that may well change as European markets get underway.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.