Greenback Gains as Equities Consolidate

The dollar ended the week higher against most major currencies as risk aversion pressured risky assets. European Central Bank President Jean-Claude Trichet stated that the ECB will withdraw emergency cash gradually and tighten the standards under which it accepts newly issued asset-backed securities as collateral from banks for its refinancing…

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…