http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/http://www.fxstreet.com/technical/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2011-04-11.htmlBased upon the price action in the foreign exchange market, very few investors, if any want to own dollars. The greenback has performed terribly since the beginning of the year and over the past 24 hours it has fallen to fresh lows against many of major currencies. More specifically, the dollar is currently at its weakest level against the euro and British pound in more than a year and its weakest level against the Canadian dollar in more than 3 years. The Australian dollar on the other handMon, 11 Apr 2011 13:14:49 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2011-04-11.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-29.v02.htmlUS Dollar: FOMC Over, Now What? Although the Federal Reserve did not change interest rates this afternoon, the FOMC announcement led to a significant amount of volatility in the currency market. In our FOMC Instant Insight , we talked about how the dollar rallied because the Fed said that they “may” and not “will” start buying US Treasuries. The market was looking for something more radical such as inflation targeting or a bold announcement that they will immediately start buying longThu, 29 Jan 2009 02:42:31 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-29.v02.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-29.htmlNew Zealand Cuts Interest Rates by 150bp to 3.5% The Reserve Bank of New Zealand has surprised the markets once again by cutting interest rates 150bp to 3.5 percent, the lowest level in 10 years. Today's rate cut matches their move in December, which at that time, was the largest ever.   Over the course of 2 months, the RBNZ has cut interest rates by 3 percent. Since July of 2008, they have reduced interest rates by a total of 475bp.  The larger move was motivated by a worseningThu, 29 Jan 2009 02:40:41 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-29.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-28.v04.htmlFOMC Instant Insight: Fed Announcement Triggers Dollar Rally The Federal Reserve has officially run out of room to cut interest rates.  For the first time since August 2007, they left interest rates unchanged at a target range of 0 to 0.25 percent.  The dollar rallied because the Fed did the minimum of what was needed to pacify the market, which was to say that they could purchases Treasuries but are not going to do so right now.  Currency traders were looking for something moreWed, 28 Jan 2009 23:20:12 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-28.v04.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-28.v03.htmlCurrencies Rally on Obama's Plan to Save Banks Investor confidence has improved this morning, driving currencies higher.  Traders are quietly moving out of US dollars and back into higher yielding currencies thanks to news that President Obama is considering creating a bank that would absorb toxic assets. On Friday, we talked about the 3 Big Threats to the US dollar this week and one of them was a bad bank plan.  A bad bank plan is positive for the markets because it shifts low gradeWed, 28 Jan 2009 23:17:09 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-28.v03.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-28.v02.htmlUS Dollar: Acts of Desperation? The Federal Reserve is currently holding a two day monetary policy meeting and it will be interesting to see whether they are desperate enough to introduce radical programs that can incite the enthusiasm of investors.  With interest rates virtually at zero, a rate cut is not expected, but the central bank is under pressure to take further action.  So far, their effort which includes 500bp of easing has helped to prevent the recession from turning intoWed, 28 Jan 2009 02:56:37 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-28.v02.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-28.htmlFOMC Preview: Will the Rate Decision Impact the Dollar? For the first time since August 2007, the Federal Reserve is not expected to change interest rates. With the fed funds rate now set to a target range of 0 to 0.25 percent, the Federal Reserve has maxed out on their most conventional monetary policy tool.  Although they still have different ways of adding liquidity to the financial system and stimulating the economy, what was once the second most market moving event risk for theWed, 28 Jan 2009 01:41:04 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-28.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-27.htmlDollar Rallies as Consumer Confidence Hits Record Lows In more than 40 years, we have never seen US consumers this pessimistic.  The Conference Board's report on consumer confidence fell to 37.7, the lowest level on record.  The disappointing consumer confidence report will drag down risk appetite and drive investors into the safety of US dollars. The rally in the US dollar is a reflection of more panic selling and not optimism about US economy. On the heels of the report, we haveTue, 27 Jan 2009 21:45:46 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-27.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-26.v02.htmlA Global Rally May be Short-Lived For the most part, markets today expressed a tone of relief and satisfaction for global economic events. We have seen the classic pattern of dollar and yen weakness across the board that is quite the mainstay in markets that think the worst is over. However, we are cautioning that this brief level of renewed sentiment may be short lived. In the US the euphoria that was left over from European trading seemed to dwindle in the latter part of the trading day. TheMon, 26 Jan 2009 22:14:59 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-26.v02.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-26.htmlUS Dollar: 3 Big Threats The US dollar continues to rise, but the rally is tempering.  After sharp losses this past week, the Euro, Japanese Yen and Australian dollar are beginning to stabilize against the greenback.  US equities have been in the red throughout the day, which is why most currencies remained negative despite sharp intraday reversals.  Over the next week, the US dollar faces 3 big threats that all traders and investors should be aware of – a bad bank plan, centralMon, 26 Jan 2009 02:20:59 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-26.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-25.htmlUSD/JPY: Keeping Its Head Above Water Thanks to BoJ There is a lot of talk this morning that the Bank of Japan is checking currency rates. The Japanese Yen has continued to rise over the past 24 hours and by checking rates, the central bank is  keeping a very close eye on where the Yen is trading. Given that it is almost 11pm in Japan right now on a Friday, the central bank is either very serious about intervening in the currency market or they want to keep currency traders on their toes.Sun, 25 Jan 2009 21:35:09 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-25.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-23.htmlObama’s New Strategy on China is USD Negative The US dollar and the Japanese Yen, the two lowest yielding G10 currencies continue to be the two best performing.  It is important to remember that the dollar and the Yen are not rallying because investors have grown more optimistic about those currencies but because they are more pessimistic about the outlook for the US and global economy. We have seen an unusual amount of currency related comments made by central banks and governmentFri, 23 Jan 2009 01:31:29 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-23.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-22.v03.htmlUS Treasury Secretary Geithner Backs Strong Dollar Policy, Talks China In his confirmation hearing with the Senate Finance Committee, Treasury Secretary Nominee Tim Geithner said that a "strong dollar is in America's National Interest." As potential Treasury Secretary, we expected Geithner to adopt the stance of his predecessors, which is to pay lip service to the strong dollar policy.  Over the past few years, the consequences of the US government’s fiscal and monetary actions is a weakThu, 22 Jan 2009 22:21:37 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-22.v03.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-22.v02.htmlUS Dollar Hits Historic Levels It is not often that we can see the US dollar hit a 23 year high against one currency and a 13 year low against another on the very same day. However that was exactly what happened this morning when the greenback surged against the British pound and collapsed against the Japanese Yen. Volatility ripped through the foreign exchange market as central bank and other US officials comment on their economies and currencies.  The milestones were not limited to theThu, 22 Jan 2009 01:45:40 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-22.v02.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-22.htmlUSD/JPY Hits 13 Year Low, Will BoJ Intervene? There has been a lot of volatility in the foreign exchange market this morning, driving currencies to historic levels: GBP/USD - 23 Year Low USD/JPY - 13 Year Low NZD/USD - 6 Year Low EUR/JPY - 6 Year Low CAD/JPY - 13 Year Low GBP/JPY - Record Low NZD/JPY - 8 Year Low The most significant moves have been in the British pound, which fell to a 23 year low against the US dollar and in USD/JPY, which fell to the lowest level in 13 years.  CommentsThu, 22 Jan 2009 01:42:26 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-22.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-21.v02.htmlHow Obama's First 100 Days Can Impact Currencies President Obama inherits a very troubled economy and he certainly has his work cut out for him over the next few years. However brighter times may lie ahead for US stocks based upon the performance of the Dow  in the first 100 days on a President’s term. The first 100 days of an Administration can define a President.  Barack Obama is expected to usher in a number of reforms that may help to reinvigorate the American economy and boostWed, 21 Jan 2009 22:13:32 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-21.v02.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-21.htmlHow Obama's First 100 Days Can Impact Currencies In yesterday’s Daily Currency Focus we warned that investors should not bank on an Obama bounce. Based upon 5 decades worth of data, the Dow Jones Industrial Average fell more often than it rose on Inauguration Day. In fact stocks fell more on Barack Obama’s Inauguration Day than any other President. Since currencies are taking their cue from equities, we have seen a sharp slide in almost all of the major currency pairs. TheWed, 21 Jan 2009 01:31:15 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-21.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-20.htmlWill Currencies Rally on Obama's Inauguration Day? Flight to safety continues to drive the US dollar higher against all of the major currencies outside of the Japanese Yen.   US markets were closed today in observation of Martin Luther King, Jr. Day but that has not limited the volatility in the currency market. Europe dominates the headlines with big developments in the UK and Spain. Most Americans will be distracted by the Presidential Inauguration tomorrow, which leadsTue, 20 Jan 2009 01:21:33 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-20.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-19.v02.htmlWhat Does It Mean to Have Your Credit Rating Downgraded? This morning, Standard and Poors downgraded the sovereign debt rating of Spain from AAA to AA+ ( read the commentary from our colleague Boris Schlossberg ). With Greece’s rating downgraded last week and Ireland and Portugal on credit watch negative, this could be the beginning of more downgrades in the Eurozone. Therefore it is important to consider what it means for a country to have their credit rating downgraded: To have your creditMon, 19 Jan 2009 22:34:26 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-19.v02.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-19.htmlWhy The Rally May Continue The price action in the currency markets over the past 2 trading days indicates that investors may be growing less pessimistic.  Although US economic data continues to disappoint, investors are starting to become immune to the weak economic data.  So much of the bad news has already been priced into the markets and therefore investors have latched onto any good news. Currencies and equities rallied strongly today following reports that Bank of America andMon, 19 Jan 2009 03:01:33 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-19.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-18.htmlTim Geithner: Will He Be Confirmed, Impact on Dollar Uncertainty about the future of President-elect Barack Obama’s cabinet and staff are mounting. We are now met with controversy over one of the most crucial positions, Treasury Secretary. It was recently reported that the nominee for the position, Timothy Geithner, failed to pay a large portion of his taxes, casting doubt upon the certainty for his seemingly inevitable nomination. These indiscretions involved $34,000 of unpaid socialSun, 18 Jan 2009 22:10:31 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-18.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-16.htmlUS Dollar: Finally Some Good News? Better than expected US economic data was like a breath of fresh air for the currency markets today.  Producer prices fell less than expected last month while manufacturing conditions in the Empire State and Philadelphia regions improved. The dollar rebounded against the Japanese Yen indicating that risk aversion is abating, albeit modestly. The overwhelmingly pessimistic investors will not be easily swayed by a few pieces of secondary economicFri, 16 Jan 2009 00:12:04 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-16.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-15.htmlEuro Rallies as Trichet Signals Potential Pause in Feb After having cut interest rates by 50bp this morning to 2 percent, ECB President Trichet is finally buckling down and signaling that he is ready to cut interest rates again BUT NOT UNTIL March.  Despite the weakness in the economy and softer inflation pressures, the hawk in Trichet refuses to die. By saying that the Feb meeting will not be important suggests that pausing is still an option.  The next meeting that matters is inThu, 15 Jan 2009 23:13:39 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-15.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-14.v02.htmlRetail Sales Tank, Expect Q4 GDP to Be Very Weak For the 6th month in a row, US consumers have cut back spending.  The December consumer spending data tells us that retailers had a very tough time this holiday shopping season.  Consumers reduced their spending by 2.7 percent but if you take out year end deals in the auto sector, retail sales actually fell 3.1 percent, the largest decline in at least 16 years.  The Grinch really stole Christmas this year and no one is happy aboutWed, 14 Jan 2009 22:20:52 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-14.v02.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-14.htmlDollar Rallies on Bernanke's Action Plan and Trade Numbers The US dollar strengthened across the board today following better than expected economic data and more clarity from the Federal Reserve on their plans to stimulate the economy going forward.  However the strength of the greenback could be fleeting particularly against the Japanese Yen as the upside surprises in US data masks underlying weakness. The December retail sales report is due for release tomorrow. Even thoughWed, 14 Jan 2009 22:14:00 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-14.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-13.v02.htmlTrade: US Deficit Improves, Canadian Surplus Shrinks The US trade deficit narrowed materially in the month of November to the smallest since June 2003. Although the narrower trade deficit is normally something to cheer about, the details of the report indicate that the only reasons why trade improved was because of the fall in oil prices and slower domestic demand. The big story is in imports, which plunged 12 percent in November.  Unfortunately the strength of the dollar did not driveTue, 13 Jan 2009 22:15:32 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-13.v02.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-13.htmlUS DOLLAR: CURRENCIES HIT BY RISK AVERSION It is a new trading week and growing doubt about the global economy has seeped through the financial markets once again. For the foreign exchange market, we are seeing broad based liquidation or weakness in all of the major currency pairs. The concerns are not unique to the US economy which is why we have not seen any consistent behavior in the US dollar. The greenback weakened against the Japanese Yen but it rallied against the Euro, British poundTue, 13 Jan 2009 07:17:46 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-13.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-11.htmlAnother Big Week Ahead The US dollar surged against all of the major currencies expect for the Japanese Yen following the December non-farm payrolls report.  More than half a million Americans lost their jobs last month but the data was not nearly as bad as the whisper number that ran as high as -700k.  The number of jobs cut was also less than the previous month, which was revised from -533k to -584k.  By all counts, the labor market report was bad, particularly since theSun, 11 Jan 2009 22:46:37 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-11.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-08.v02.htmlAnother Big Week Ahead The US dollar surged against all of the major currencies expect for the Japanese Yen following the December non-farm payrolls report.  More than half a million Americans lost their jobs last month but the data was not nearly as bad as the whisper number that ran as high as -700k.  The number of jobs cut was also less than the previous month, which was revised from -533k to -584k.  By all counts, the labor market report was bad, particularly since theThu, 08 Jan 2009 22:51:39 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-08.v02.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-08.htmlConcerns Mount About NFP and GDP Concerns about the US economy are growing as the Dow Jones Industrial Average erases all of its year to date gains, taking the US dollar down with it.  The rally that we have seen in the first few days of trading will be difficult to sustain with all of the weak economic data that we expect in this month.  Although the US government has thrown a lot of monetary and fiscal stimulus at the US economy, we may not see the fruits of their labor until theThu, 08 Jan 2009 00:55:07 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-08.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-06.htmlThe FED Fears The Worst Trading in equities very closely mirrored yesterday’s volatile session. It is clear that investors are still uncertain, as direction in the Dow has been largely range-bound. Equities have swerved between two extremes, at one time positive by more than a hundred points. Even though the excitement and enthusiasm behind the newly proposed relief program has managed to give equities a new leg, we are still undeniable seeing the levels of concern that have pervaded theTue, 06 Jan 2009 22:56:45 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-06.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-05.htmlVolatility Returns To The Currency Markets The resonance of the New Year is starting to show its true colors at the start of the first full trading-week this year. The Dow finished a volatile day lower, in some ways ruining the sense of stability that pervaded in last week’s market. Volatility in equity prices was complemented by some extreme moves in the fx markets. Looking at today’s biggest percentage movers we can see the sheer magnitude of price action today, with some moves extending toMon, 05 Jan 2009 22:12:42 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-05.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-04.htmlAn Unfounded Rally To Start the New Year Today’s trading comes across as mostly a denial of facts. Perhaps it is the jubilation that comes with the start of a New Year, or the low volume at the end of a holiday week, but today’s numbers certainly cast a concerning picture on an already weakened economy. Price action in the dollar is also equally perplexing, as the currency posts broad gains in today’s market. However, we warn that the facts in the marketplace will inevitably catch up withSun, 04 Jan 2009 22:13:24 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-04.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-01.html2009 Currency Market Outlook How Did the Dollar Trade in 2008? It has been an exceptionally active year in the foreign exchange market as currency volatilities hit record highs.  In the first half of the year, everyone was worried about how much further the dollar would fall but in the second half of the year the concern became how much further the dollar would rise.  After hitting a record low against the Euro in the second quarter, in the beginning of the fourth quarter, the USThu, 01 Jan 2009 23:41:24 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2009-01-01.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2008-12-31.htmlEconomic Data Hits Record Low The US dollar sold off modestly today on stronger European economic data and weaker US data.  The dollar’s weakness was seen against every major currency except for the Canadian dollar which followed oil prices lower.  Trading remains extremely quiet in the foreign exchange market and any moves that we have seen thus far are still nominal.  The only currency pair that is really moving is the EUR/USD, but thin liquidity could be exacerbating theWed, 31 Dec 2008 00:12:00 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2008-12-31.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2008-12-29.htmlRun on The Dollar? With no US economic data on the calendar today, the dollar weakened against every major currency except for the British pound.  Trading continues to be very thin with commodities being the only products that are really moving.  The tensions in the Middle East have driven oil and gold prices higher.  US stocks also gave back Friday’s gains and remained contained within its weeklong trading range.   Housing, Manufacturing and Consumer Confidence HopefullyMon, 29 Dec 2008 23:06:09 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2008-12-29.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2008-12-28.htmlUS Dollar 2009 Forecast 2008 Price Action:   It has been an exceptionally active year in the foreign exchange market as currency volatilities hit record highs.  In the first half of the year, everyone was worried about how much further the dollar would fall but in the second half of the year the concern became how much further the dollar would rise.  More specifically, after hitting a record low against the Euro in the second quarter, the US dollar surged to a 2 year highSun, 28 Dec 2008 23:14:21 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2008-12-28.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2008-12-24.htmlUS Dollar 2009 Forecast 2008 Price Action: It has been an exceptionally active year in the foreign exchange market as currency volatilities hit record highs.  In the first half of the year, everyone was worried about how much further the dollar would fall but in the second half of the year the concern became how much further the dollar would rise.  More specifically, after hitting a record low against the Euro in the second quarter, the US dollar surged to a 2 year high against theWed, 24 Dec 2008 23:53:06 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2008-12-24.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2008-12-23.htmlUS Dollar: Unfazed By Economic Data The US dollar appears to be unfazed by this morning’s mixed economic reports.  Thin trading conditions continue to dominate in the currency market, leading to inconsistent trading for the US dollar.  The greenback strengthened against the Japanese Yen and British pound but weakened against the Euro.  The latest reports on the US economy were weak but not as weak as the market had expected.  There was the potential for really bad numbersTue, 23 Dec 2008 22:41:37 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2008-12-23.htmlhttp://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2008-12-22.htmlWhat to Expect Before New Years It is the first trading day of what is typically the least liquid period in the financial markets.  As a result, there was no consistent trading pattern in the US dollar today. The greenback weakened against the Euro but gained strength against the British pound and Japanese Yen. We still believe that the US dollar has hit a top and could be at the cusp of a major reversal.  The EUR/USD’s resilience to the US stock market sell-off indicates that we areMon, 22 Dec 2008 23:25:09 GMThttp://www.fxstreet.com/technical/analysis-reports/info@gftforex.com (GFT)http://www.fxstreet.com/technical/analysis-reports/daily-market-commentary/2008-12-22.html