http://www.fxstreet.com/fundamental/market-view/daily-market-report/http://www.fxstreet.com/fundamental/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/fundamental/market-view/daily-market-report/2011-12-09.htmlMarket Summary The euro has been on a rollercoaster ride after today’s ECB policy announcement. The euro rallied initially as the ECB cut its policy rate by 25bp in line with expectations and announced a number of additional measures to ease liquidity. However, at the subsequent press-conference ECB President Draghi clearly played down expectations for a more aggressive central bank role in supporting the peripheral Eurozone bond markets, including the possibility of expanding the bondFri, 09 Dec 2011 14:20:33 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2011-12-09.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-17.htmlMarket Summary The U.S. dollar is firmer, although its path is somewhat mixed, and it is the divergent foreign currency performance that is perhaps the most interesting feature of today’s price action. One theme that is having some influence on FX markets is improving risk appetites, with the strength in global equity markets helping many currencies to move higher. Asian and Latin currencies are generally higher, while the Australian, New Zealand and Canadian dollar are holding reasonablyWed, 17 Feb 2010 16:52:23 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-17.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-16.htmlMarket Summary The dollar is down, in part a correction to recent strength and in part a reaction to a temporary pause in Greek related headlines. The European Union finance ministers meet today but we do not expect any concrete measures of financial assistance to be announced. The next important dates are end-February, by which time Greece must provide more information on its currency swap transactions to the European statistical agency, and mid-March, at which time the first review ofTue, 16 Feb 2010 14:45:58 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-16.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-11.htmlMarket Summary Another impressive jobs report from Australia helped ease some concerns over the health of the global recovery, boosting growth-sensitive currencies and risk appetites in general. An unexpected slowing in China’s CPI in January is also alleviating fears that the Chinese authorities will rush to tighten policy aggressively. Finally, an optimistic tone from the Swedish central bank has given a sizeable lift to the krona. Meanwhile, the euro is falling behind, down notably acrossThu, 11 Feb 2010 16:35:26 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-11.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-10.htmlMarket Summary There have been more twists and turns in the Greek fiscal drama over the past 24 hours. Yesterday’s press reports that German officials were discussing a bailout plan lifted the euro and weighed on the dollar more broadly. Today’s newswire headlines have been less optimistic however, with some officials quoted as saying the ECB and the EU disagree with the Greek government on the size of the necessary fiscal adjustment. We suspect the markets are not rushing to wholeheartedlyWed, 10 Feb 2010 15:29:24 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-10.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-09.htmlMarket Summary The euro is catching a breather today as markets hope and speculate that this week’s European Union summit will lead to financial assistance to Greece. Consequently, Greek government bonds are rallying, European equity markets are higher and the euro is firmer. We suspect however that most of the today’s bounce in the euro is due to profit taking on short positions that reached an all-time record last week. There is probably no ‘silver bullet’ solution to the Eurozone fiscalTue, 09 Feb 2010 14:54:26 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-09.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-08.htmlMarket Summary Currency markets are starting the week on a quiet note. While there was little direct commentary on currencies from the G7 finance ministers meeting over the weekend, the policymakers’ pledge to support the recovery has probably helped the equity market sentiment, also weighing slightly on the dollar and the yen. The euro’s bounce today appears particularly tentative as budget jitters in Greece, Portugal and Spain are not likely to fade away in the near future, despite furtherMon, 08 Feb 2010 15:19:27 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-08.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-05.htmlMarket Summary Currency markets are mixed, as is today’s key U.S. jobs report. The employment release showed a decline in nonfarm payrolls, but also a decline in the unemployment rate back into the single digit range. The greenback initially weakened after the report, but has since partially recovered versus the euro, pound, and the Australian and New Zealand dollars. The Canadian dollar remains higher, benefiting from its own very strong jobs report. Latin American currencies have turnedFri, 05 Feb 2010 16:03:49 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-05.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-04.htmlMarket Summary The dollar and yen are stronger as European fiscal concerns return to the forefront, unsettling global markets. Although Greek government bond yields are holding reasonably steady, the focus today seems to be shifting towards Spain and Portugal, where yields are moving higher. The euro is understandably under some pressure, touching a new seven-month low, while global markets are also unsettled, with equity markets weaker. As a result emerging currencies are also down,Thu, 04 Feb 2010 15:30:11 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-04.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-03.htmlMarket Summary The dollar is mostly stronger against the G10 currencies but more mixed against the emerging currencies. The euro was up early on thanks to some calming in fiscal fears and mildly positive Eurozone data. However, the single currency has since reversed those gains, an indication that the euro’s recent advance is most probably corrective. The Australian dollar gained only temporary support from a narrower than forecast trade deficit, while the pound is down on soft data and theWed, 03 Feb 2010 15:47:11 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-03.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-02.htmlMarket Summary Currency market price action remains corrective and reflective today, against the backdrop of a light global economic calendar. The main market event overnight was the surprise ‘on hold’ decision from the Reserve Bank of Australia which said it needed more time to gauge the impact of previous policy tightening. It’s not surprising to see the Australian dollar suffering against the greenback after the announcement, although we suspect that from a slightly longer-term perspectiveTue, 02 Feb 2010 14:44:23 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-02.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-01.htmlMarket Summary The US dollar is starting the week on the defensive, a ‘payback’ for the greenback’s recent strength and a reflection of a slightly more optimistic tone in global equity markets. Some easing in concerns over the fiscal troubles in Eurozone is helping the euro, although with more budget news expected from Greece in mid-week we suspect this is a temporary reprieve. Stronger than expected manufacturing PMI data in the European region is also helping regional currencies and inMon, 01 Feb 2010 14:58:59 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-02-01.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-29.htmlMarket Summary The US dollar remains higher at the end of what has been a busy week for market event risk. Today’s U.S. Q4 GDP report was firmer than expected at the headline and, more importantly, showed some underlying strength, with business investment and consumption surprisingly robust. The dollar’s reaction has been mixed: the greenback jumped against the yen but is advancing only cautiously against the euro. While the dollar’s progress could be slowed should US equity markets bounceFri, 29 Jan 2010 15:47:41 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-29.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-28.htmlMarket Summary The greenback is mostly lower after yesterday’s FOMC announcement. Most market participants have focused on the Fed’s more upbeat economic assessment, which in turn has supported risk appetites and global equity markets. The dollar-bloc and emerging market currencies are mirroring that strength, with central bank comments (and actions) from New Zealand and the Philippines also a reason for FX strength in those instances. While the Fed announcement is clearly a notable driver ofThu, 28 Jan 2010 15:24:40 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-28.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-26.htmlMarket Summary The dollar and yen are today’s strongest currencies as unsettled market conditions weigh on emerging and other G10 currencies. Market concern about the potential for further Chinese monetary tightening appears to be one factor behind today’s price action, while the cut in Standard and Poor’s outlook on Japan’s credit rating is also contributing. Still the overall gain in the yen after the credit warning is somewhat unusual – when the U.K. and U.S. came under the fiscalTue, 26 Jan 2010 14:57:54 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-26.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-25.htmlMarket Summary The U.S. dollar is slightly softer in lethargic trading at the start of the new week. Financial market are calmer, perhaps due in part to signs that Fed Chairman Bernanke’s reconfirmation to his post is now more assured, after some uncertainty emerged Friday. While Asian equities are down, European equities are little changed and U.S. equity futures are actually higher. The more settled market conditions are helping the Australian and New Zealand dollar, while most emergingMon, 25 Jan 2010 14:48:36 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-25.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-21.htmlMarket Summary Market sentiment is mixed today: positive news of an acceleration in China’s economic growth was somewhat offset by fears that the strong data will prompt Chinese authorities to tighten monetary policy. The dollar remains stronger overall however, perhaps another indication that the underlying sentiment on the US economy and currency has been shifting over the past few weeks. The yen is lower today, also in our view a sign that prospects for further global monetary tighteningThu, 21 Jan 2010 15:10:44 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-21.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-20.htmlMarket Summary The US dollar is stronger as two main themes continue driving the currency market. First, signs that China is moving further on the monetary policy tightening path are stirring fears about the sustainability of global economic recovery. Consequently, equity markets are coming under pressure, which is supporting safe haven demand for the dollar and the Japanese yen. Second, continued Eurozone fiscal troubles, along with hints of weaker economic data are leading to someWed, 20 Jan 2010 15:28:46 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-20.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-19.htmlMarket Summary The dollar is benefiting from others’ misfortunes today, especially as the euro is finding itself under some notable selling pressure. A larger than expected drop in Germany’s investor confidence is adding to the ongoing negative sentiment surrounding the Greek budget situation. From a technical perspective, the euro’s latest moves are also gaining in significance. The currency is testing its 200-day moving average (MA) support versus the dollar, while the recent crossing of theTue, 19 Jan 2010 15:11:40 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-19.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-18.htmlMarket Summary Currency markets are starting the week on a quiet note, with lighter liquidity conditions attributable to the Martin Luther King Day holiday in the US. The greenback is slightly weaker overall against other major currencies, but holding on to most of its Friday’s gains against the euro. Fiscal concerns surrounding Greece have moved into the spotlight over the course of the past week, and the euro has been gradually giving up its gains made after the release of the US DecemberMon, 18 Jan 2010 15:47:58 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-18.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-15.htmlMarket Summary The U.S. dollar and Japanese yen are finishing the week on a firm note, with two main themes driving today’s FX market moves. Firstly, concerns about a slowing in China’s economy appear to be weighing on global equity markets and currencies. Today’s Chinese data was not especially soft, but there does appear to be an ongoing reaction to Chinese monetary tightening announced earlier this week. The greenback and yen are enjoying broad-based gains against the G10 and emergingFri, 15 Jan 2010 14:42:09 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-15.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-14.htmlMarket Summary The dollar is mixed after today’s soft U.S. data. December U.S. retail sales unexpectedly fell while initial jobless claims increased in the latest week, with the tone of those data disappointments echoing the U.S. payrolls report. While the greenback has traded back and forward this week (and indeed has traded back and forward even in Thursday trading), the overall dollar trend has been weaker since the job figures. Today’s U.S. news does not threaten that trend, though it isThu, 14 Jan 2010 14:44:30 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-14.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-13.htmlMarket Summary The dollar is down as the tug-of-war between risk appetites and risk aversion plays out over the early part of this week. Tuesday’s trading was driven by China’s monetary tightening announcement, which injected some caution into markets and supported the greenback and the yen. Today the dollar is on the defensive again, reverting to the price action that mostly prevailed after the softer that expected U.S. payrolls report. Asian currencies are down, but primarily because thoseWed, 13 Jan 2010 15:09:13 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-13.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-11.htmlMarket Summary The US dollar is extending its losses suffered after the disappointing non-farm payrolls report last Friday. While recent data has been pointing to an ongoing economic recovery, the weakness in the employment situation would push back the timing of the eventual Fed policy tightening. Meanwhile, the market welcomed news out of China today, where export growth moved into positive territory for the first time in 14 months. Consequently, equities and commodities are rallying, withMon, 11 Jan 2010 14:52:45 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2010-01-11.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-30.htmlMarket Summary In what remains a light week for FX trading activity, the dollar is strengthening again. The greenback touched a three-month high against the Japanese yen, while also advancing against most other major currencies today. Given thin economic calendars, we suspect year-end position adjustment and book balancing continue to play a big role in the currency moves. However, we also see some of the latest FX market patterns, such as the breakdown in the inverse dollar-equitiesWed, 30 Dec 2009 15:24:24 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-30.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-29.htmlMarket Summary The US dollar is broadly on the defensive, with commodity currencies in particular strengthening against the greenback. Although the inverse relationship between equity markets and the dollar has eased substantially in recent weeks, it does appear that gains in global equity markets are helping foreign currencies today. Commodity prices are also higher, likely adding to downward pressure on the greenback. The Japanese yen is a notable exception to this weaker dollar trend,Tue, 29 Dec 2009 15:30:21 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-29.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-28.htmlMarket Summary The dollar has slipped at the start of the new week, though we are cautious about reading too much into light, holiday-impacted trading. Two factors appear to be in play for today’s FX moves. First, the greenback’s fall in part is a correction to the strength seen through much of the December month. Second, global equity markets are generally firmer, and that is being mirrored in gains in G10 and emerging currencies, along with weakness in the Japanese yen. Given less liquidMon, 28 Dec 2009 14:33:18 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-28.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-21.htmlMarket Summary It has been a quiet start to what is likely to be a quiet holiday week in the currency markets. The greenback is down only slightly, effectively holding on to most of its recent gains that followed the November non-farm payrolls report. The latest speculative positioning data suggests that the market has been moving away from a strong negative-dollar bias, with short positions reduced significantly. This ongoing position adjustment could explain why the dollar’s strong DecemberMon, 21 Dec 2009 14:52:46 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-21.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-18.htmlMarket Summary The dollar is steady, recovering from its earlier intraday losses, remaining resilient at the end of what has been a very good week for the buck. The greenback’s gain against the yen was helped in part by dovish comments from Japan’s central bank, while the dollar’s gain against the euro comes despite what we would consider to be generally supportive economic news for the European currency. The euro’s inability to sustain gains despite that favorable data, and with conditionsFri, 18 Dec 2009 15:03:45 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-18.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-17.htmlMarket Summary The dollar is sharply higher, with a combination of technical factors and market jitters combining to boost the buck. The latest spike higher in the dollar comes after the Fed’s latest announcement which was less pessimistic on the economy and more explicit on the early stages of the Fed’s exit strategy, but importantly repeated that rates would remain exceptionally low for an extended period. That did not derail the greenback’s recent gains however, and with Standard &Thu, 17 Dec 2009 14:35:55 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-17.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-16.htmlMarket Summary The dollar is generally weaker today, mirroring somewhat calmer financial markets. Latin and Eastern European currencies are up, while G10 currencies are also firmer on balance. For the most, part today’s international news has been favorable: Norway’s central bank unexpectedly hiked rates, while Eurozone survey data and U.K. labor data was firm. There were exceptions to this trend, most notably soft data and subdued central bank comments from Australia, leading that country’sWed, 16 Dec 2009 15:29:12 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-16.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-15.htmlMarket Summary The dollar is continuing its recent stronger trend. International news has in some cases contributed to the dollar’s gain – for example, some mildly dovish comments from the Reserve Bank of Australia. Concerns about European banks and some European governments are also weighing on the euro. The single currency reached a new two-month low today, with the fall below the 100-day moving average highlighting the technical significance of the euro’s move over the past couple of weeks.Tue, 15 Dec 2009 15:04:44 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-15.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-14.htmlMarket Summary The dollar is lower, though only modestly so considering a range of news that is supporting financial markets and risk appetites.  Markets were boosted by news that Abu Dhabi pledged $10B in funds to help Dubai World meet its debt payments and avoid default.  That has been followed by news that Citigroup will repay TARP funds to the U.S. government as well as M&A news from the energy sector.  Asian equities are mixed, while European equities and U.S. equityMon, 14 Dec 2009 15:08:01 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-14.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-11.htmlMarket Summary Something changed? It may have been a relatively quiet week for economic data, but certainly an interesting one from the point of view of FX trading patterns and correlations. After last Friday’s US payrolls report, the inverse relationship between the dollar and equity markets does not appear as strong, and on several occasions this week the greenback tended to follow Treasury yields rather than stocks. Today is a case in point: the dollar’s positive reaction to the firm USFri, 11 Dec 2009 17:15:41 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-11.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-10.htmlMarket Summary Central banks around the world have been busy over the past 24 hours. The outcome of policy meetings in New Zealand, Brazil, South Korea, UK and Switzerland was ‘unchanged’ rates but in some cases the accompanying central bank comments had a market impact. The most notable case is the Reserve Bank of New Zealand which signaled that it intends to tighten policy by the middle of next year. These comments boosted the NZ dollar, while also lifting risk appetites in general. TheThu, 10 Dec 2009 15:33:44 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-10.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-09.htmlMarket Summary FX markets are mixed this morning, with the US dollar somewhat weaker overall. While global risk appetites still appear fairly subdued, the dollar’s move this morning appears to be mostly a technical correction after three straight daily gains. The most notable market moving event overnight was a very large downward revision to Japan’s Q3 GDP, prompting weakness in Asian equity markets and boosting the yen. The UK government’s pre-budget report also drew some attention and theWed, 09 Dec 2009 15:06:14 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-09.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-08.htmlMarket Summary Sovereign credit rating concerns, renewed banking sector woes and some soft economic data are translating into weaker global equity markets this morning. The inverse correlation of global investor sentiment with the dollar and the yen is back, with both currencies enjoying gains today. The biggest losers are in the European region, including the pound, euro, ruble and forint. The Canadian dollar is also down after the Bank of Canada policy announcement. The central bank made fewTue, 08 Dec 2009 15:50:48 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-08.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-07.htmlMarket Summary The greenback is stronger at the start of the new week, extending the gains seen on Friday in the wake of the better than expected U.S. payrolls report. Whereas Friday’s price action was notable for dollar strength occurring side-by-side with equity gains, today has seen a return to the more typical inverse correlation between the dollar and equity markets. European and Asian equities are lower, while U.S. equity futures are pointing to the downside as well. One influence thatMon, 07 Dec 2009 14:44:29 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-07.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-04.htmlMarket Summary The dollar is stronger, helped by a U.S. jobs report that was much better than expected. Nonfarm payrolls fell only very slightly, while other aspects of the report were also very encouraging. The dollar has lost some ground against the Canadian currency, which was also helped by a good jobs report, and has made only modest gains against the Australian and New Zealand dollar. Against most of the European currencies, however, the greenback is enjoying larger gains. One notableFri, 04 Dec 2009 15:17:01 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-04.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-03.htmlMarket Summary The euro has seen a good deal of volatility this morning in reaction to the European Central Bank policy meeting. With unchanged rates practically a given, the focus was on the announcement of how the central bank plans to scale back its supplementary lending programs. The details from Mr. Trichet were probably close to market expectations and combined with few signals that the ECB’s main policy rate is to be raised any time soon, the euro’s reaction has been unenthusiastic.Thu, 03 Dec 2009 15:18:13 GMThttp://www.fxstreet.com/fundamental/market-view/sam.bullard@wachovia.com (Wells Fargo Investments, LLC)http://www.fxstreet.com/fundamental/market-view/daily-market-report/2009-12-03.html