Bernanke Sees Headwinds for US Recovery

EUR-USD was over 1.49 for most of the week, despite the fact that the majority of US indicators turned out weaker than expected, which, according to the pattern of the last few weeks, should in fact have had a dampening impact. In addition, Fed president Ben Bernanke revealed that he…

Weekly Market Commentary

Stock indices should drift through to year-end, but not collapse. FX will continue to consolidate, as should most commodities, with a tendency for the Yen to strengthen slightly and for the US dollar to weaken medium term. Longer-dated Treasury yields will move lower as investors realise that ultra-low official target…

Euro Set for Further Losses

The main attention over the past few weeks has been on the US economy and dollar. There has been a tentative shift in sentiment over the past few days and there is a strong probability that the Euro-zone will be in greater focus over the next few weeks. The structural…

Weekly Technical Commentary

Subtle signs in a series of currencies that the trend to generalised US dollar weakness is about to step up a gear. Which currency will lead is unclear, though the Brazilian real and Australian dollar have so far, +33% this year. For dollar/yen we continue to favour a series of…

AUDUSD Finally Breaks the 8-month Old Trendline, Triggering a Stop Fest

The move in risk aversion in the European session provided a big boost to the greenback, and EURUSD is pounding on the local support just above 1.4800 as we write this, and AUDUSD has collapsed through support and triggered a stop-fest now that the multi-touch trendline stretching back to March…