http://www.fxstreet.com/technical/market-view/daily-forex-news/http://www.fxstreet.com/technical/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-20.htmlForex News and Events: The consolidation of the USD and moderation in risk appetite continues today as a barren data schedule provides little impetus for a break out in major currency pair ranges. Today’s docket is solely occupied with policy maker speeches, but even yesterday’s offerings from Geithner, Fisher and Trichet were muted in impact on FX markets. The most newsworthy element from Geithner’s address to the Joint Economic Committee yesterday was the palpable sense of frustration at aFri, 20 Nov 2009 11:13:56 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-20.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-19.htmlForex News and Events: It seems that neither economic releases nor unexpected Fed remarks about interest rate policy has been able to coerce major currency pairs out of their entrenched ranges this week. Despite comments from Bernanke on Monday, San Francisco Fed President Yellen on Tuesday, and St Louis Fed President Bullard yesterday, the USD seems unable to force a break out from the well-trodden consolidation zones. EURUSD has been locked between 1.4800 and 1.4990; with transient waves ofThu, 19 Nov 2009 11:09:27 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-19.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-18.htmlForex News and Events: The currency rhetoric continues to come out hard and fast from policy makers. Yesterday, we heard for the European side of the equation, as Trichet stated that Bernanke’s recent “strong USD“ comments were correct and that he was "fully aligned with Bernanke's analysis." Euro group Chairman Junker was kind enough to agree and stated that the EUR had not reached worrying levels. While the verbal intervention makes nice new fodder and provide plenty of FX volatility, weWed, 18 Nov 2009 10:38:37 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-18.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-17.htmlForex News and Events: Yesterday’s speech from Fed Chairman Ben Bernanke provided a quick shake up of risky asset longs for indolent markets that have grown accustomed to easy profits from improving global confidence and the assurance of low rates. Immediate attention was drawn to the statement that the Fed’s policy and underlying strength of the US economy “will help ensure that the dollar is strong” – a remark that seemed completely at odds with the recent theme that has driven FX markets,Tue, 17 Nov 2009 10:12:03 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-17.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-16.htmlForex News and Events: Last week ended on an interesting note, as the University of Michigan Consumer survey dropped for the second straight month (66.0 vs. 71.0 exp, 70.6 prior). However, the market reacted in selling USD. A move that was also interesting, considering the risk APEC's weekend meeting posed to short USD positions. The markets reaction of selling the greenback, anecdotally suggests that the tight correlation between soft USD data and risk appitite might not only be shifting, butMon, 16 Nov 2009 10:06:05 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-16.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-13.htmlForex News and Events: It has been a week of consolidation and reflection for FX markets as a minimalist data calendar has allowed the risk-asset rally to catch its breath from the drama of the week prior. On balance, the economic releases of the week have provided very few new developments likely to change the market’s fundamental outlook; the one exception possibly being Mervyn King’s comments after the BoE inflation report that left the door open for more QE. Nevertheless GBPUSD, likeFri, 13 Nov 2009 10:10:19 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-13.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-12.htmlForex News and Events: The flurry of rhetoric from policymakers in the past day seems to affirm that conditions conducive to continued USD-selling are likely to persist; with further assurances this morning from US Treasury’s Timothy Geithner, Chinese Finance Minister Zhu, and Canada’s Jim Flaherty. All have echoed the same message that an early exit from stimulus could be severely disadvantageous, and that economies are still at a point where accommodative policies are required to support theThu, 12 Nov 2009 10:51:41 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-12.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-11.htmlForex News and Events: Risk appetite remains the persistent driver of FX markets, with a deluge of encouraging Chinese data released overnight continuing to stoke sentiment into the middle of the week. Trade balance figures highlighted that the surplus grew yet again in October, a fact which will likely bring calls for Yuan appreciation back to the fore. Against this backdrop, Retail Sales were shown to have grown an impressive 16.2% YoY against estimates of 15.7% (15.5% prior), and IndustrialWed, 11 Nov 2009 10:09:01 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-11.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-10.htmlForex News and Events: With three of the world’s largest central banks reassuring the markets that accumulation of risk is secure, it seems like clear sailing ahead for high beta currencies. In no uncertain terms last week the Fed and ECB indicated that they would support growth, stated that inflation is a far distinct concern and it was too early to signal any exit from their ultra loose monetary policy. While over the weekend the G20 policymakers put their negligible stamp of approval onTue, 10 Nov 2009 10:45:43 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-10.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-09.htmlForex News and Events: As another weekend G20 meeting has passed without comment on FX and with continued commitment to maintaining stimulus, the USD has slid appreciably against the majors and gold. The shock headline on Friday that US unemployment hit 10.2% initially sent investors scrambling for the exit of risk-correlated trades, with gold plunging and EURUSD skidding precariously towards downside support. However, once the knee-jerk alarm bells subsided and rational thought regained theMon, 09 Nov 2009 10:32:18 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-09.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-06.htmlForex News and Events: With the major central bank meetings of November out of the way and Q3 corporate earnings on the table, investors have already digested most of the major risk events likely to sculpt FX markets up until year-end. Continued improvement in the economic backdrop coupled with central bank assertions that accommodative policy will remain in place for the time being leaves us in a sweet spot of cheap liquidity and heightened risk sentiment; meaning ample fuel for further assetFri, 06 Nov 2009 11:36:04 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-06.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-05.htmlForex News and Events: As we expected yesterday, the Fed was unwilling to end the liquidity-fueled party just yet and that’s just what happened. The FOMC members voted unanimously at the meeting to hold rates steady and indicated its ultra loose monetary policy would remain "excessively low" for “an extended period.” The recent sell-off in risk correlated trades has been driven primarily by the worries that the Fed would subtly signal a timetable for its exit strategy. We doubt that with theThu, 05 Nov 2009 07:53:43 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-05.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-04.htmlForex News and Events: The news of India’s massive purchase of gold in the past 2 weeks has helped propel the precious metal to new all-time highs ($1093 at the time of writing) as speculation mounts that central banks are keen to increase holdings of gold to diversify their reserves. The enormous 200 metric ton acquisition from the IMF is the largest single purchase in at least 30 years, and comes after China revealed in April that they too had increased their total holdings to 1,054 tonsWed, 04 Nov 2009 11:02:50 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-04.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-03.htmlForex News and Events: Yesterday saw the US ISM manufacturing index improve to a three and a half year high and combined with the resurgence of residential construction, this suggests the pace of US fourth quarter growth is on track to meet Q3s whopper. However since the release of these impressive figures the USD and risk correlated trades have had a choppy ride. Wall Street closed the session slightly higher with the S&P up 0.64% but Asian regional indexes were broadly lower. EURUSDTue, 03 Nov 2009 10:36:19 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-03.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-02.htmlForex News and Events: It is an exceptionally important week for economic releases this week, with four major central bank rate meetings; RBA (Tue), Fed (Wed), BoE and ECB (Thu), in addition to the minutes of the recent Riksbank and BoJ meetings on Wednesday. The RBA is likely to be the only one to alter monetary policy, as the market is anticipating another 25bps of tightening to 3.5%. There is an outside chance of 50bps as latest data this month has shown a reduction in unemployment (5.7% inMon, 02 Nov 2009 10:30:47 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-11-02.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-30.htmlForex News and Events: US GDP’s inspiring 3.5% annualized pace of growth has reignited risk appetite that just days ago was looking weary and nervous. The effect on equity markets was immediate, as European indices turned positive and US equities surged higher; however FX markets have been far less impulsive in resuming their trademark USD-selling on good data. Certainly, commodity currencies which have been the hardest hit in the last couple of days were able to recoup their territory againstFri, 30 Oct 2009 10:38:32 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-30.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-29.htmlForex News and Events: Dark clouds (in the figurative not Japanese candlestick sense) are clearly forming over risk appetite. Wall Streets severely underperformed yesterday and Asian equity markets are broadly lower with our favorite risk barometer the Shanghais composite down -2.33%. The Baltic Dry index has closed lower in the last two days. Both the Norges Bank and RBNZ were significantly less hawkish then the markets had anticipated prompting an unwinding of rate expectations. EconomicThu, 29 Oct 2009 10:51:50 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-29.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-28.htmlForex News and Events: There is a plethora of data coming up today including US Durable Goods Orders and New Home Sales, plus rate decisions from Norway and New Zealand. The Norges Bank rate announcement will likely see Norway follow Australia as the second G10 economy (and first in Europe) to begin tightening monetary policy since the onset of the financial crisis, with markets expecting a move of 25bps to 1.50%. The RNBZ should also prove to be a hawkish affair, as data in the past month hasWed, 28 Oct 2009 10:00:58 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-28.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-27.htmlForex News and Events: In a day that was truly devoid of drivers, yesterday’s rapid sell off in risk appetite caught the market completely off guard. Just after peaking to the $1060oz, Gold shed nearly $23, while the EURUSD fell -1.3% down to 1.4845. Overall, the DXY gained 1.0% on the day. The trigger for the sell-off is still very much up for debate, with figures pointing to the slump in US equity markets, worries over the massive amount of US Treasury auctions occurring this week ($123bn),Tue, 27 Oct 2009 10:41:47 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-27.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-26.htmlForex News and Events: As Q3 earnings releases begin to wind down and their significance for risk appetite fades, the focus in FX markets returns to economic data – and despite today’s quiet schedule, we have a number of key issues in the week ahead. For the US, the most significant will be Thursday’s first reading of Q3 GDP where consensus estimates are calling for a 1.4% expansion QoQ, up from Q2’s 0.0% reading. The figure will be one of the most significant drivers of risk appetite in theMon, 26 Oct 2009 10:35:47 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-26.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-23.htmlForex News and Events: UK Q3 GDP quickly quashed hopes that a recovery was well under way by posting a -0.4% QoQ contraction vs. expectations for a 0.2% expansion. This coupled with the poor Retail Sales yesterday makes it almost certain in our minds that the November MPC meeting will be more dovish in tone and require an increase in QE beyond the existing GBP175bn. The prospects for GBP from here seem extremely bearish, and we would not be surprised to see a revisit of 1.6250 levels quiteFri, 23 Oct 2009 09:45:25 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-23.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-22.htmlForex News and Events: China’s impressive GDP figures overnight ignited speculation that we may be close to a point where stimulus is soon removed from the system, sending Asian equities lower and the USD back from the brink of its lowest levels since the beginning of August last year. The 4 trillion Yuan stimulus package has certainly been a key factor in helping China emerge resilient from the financial crisis, and in turn, helping to drive the recovery of many of its trading partners.Thu, 22 Oct 2009 09:55:19 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-22.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-21.htmlForex News and Events: In the UK Telegraph today, Henri Guaino, a key adviser to French President Sarkozy, is quoted as saying: “The euro at $1.50 is a disaster for the European economy and industry”. We guess the silence on the EUR strength was too much for the French to handle. Overall, rhetoric around the USD weakness has been relatively civil and sporadic. Japanese policy makers, who are usually the first to verbally intervene on JPY behalf, have been indecisive. The BoC has becomeWed, 21 Oct 2009 08:24:30 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-21.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-20.htmlForex News and Events: As anticipated, the RBA Minutes overnight were incredibly hawkish; highlighting further evidence of both global and domestic economic recovery, and signalling that more tightening was likely to come. More good news for AUD bulls was the RBA’s assessment of the currency at these levels; despite reaching a 14-month high vs. the USD, the RBA seemed unconcerned by the currency’s strength, concluding “The appreciation of the Australian dollar in recent months had reflectedTue, 20 Oct 2009 09:33:34 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-20.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-19.htmlForex News and Events: GBP’s outperformance in the last few sessions has been largely attributed to the idea that the BoE may not be looking to expand its quantitative easing programme at the next MPC meeting in November. Much of this speculation was triggered by an FT article with BoE’s Fisher who stated that the QE programme was having the “scale and speed of impact that we would have hoped for when we started”. However, the market’s interpretation that this meant the BoE may halt QE wasMon, 19 Oct 2009 09:20:28 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-19.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-16.htmlForex News and Events: Yesterday’s Goldman’s earnings should have hit the ball out of the park, with an impressive EPS of $5.25 vs. expectations of $4.18. Yet the USD failed to sell off in the manner we saw after JPMorgan’s numbers on Wednesday, and most major currencies actually lost ground against the USD immediately after the numbers. This may be the first indication that investor expectations have finally grown unrealistically high; an upside surprise is no longer enough to sateFri, 16 Oct 2009 09:25:45 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-16.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-15.htmlForex News and Events: Risk appetite saw no sign of abating on the back of strong corporate earning and better than expected retail sales. In addition, yesterday’s robust China imports and exports data also suggests that EM Asia remains the core driver of the recovery in global growth, which should support commodity producers. DXY slipped to new lows and the EURUSD cleared the 1.4950 level. September US retail sales dipped m/m -1.5%, better than the expected -2.1% m/m fall. The FOMC minutesThu, 15 Oct 2009 08:48:46 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-15.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-14.htmlForex News and Events: Yesterday’s late earnings release from Intel joins an ever increasing list of US corporates who have beaten analyst expectations for Q3 earnings; sending the USD plummeting to its lowest levels in 14 months (DXY low 75.50). The reaction from currencies and indeed commodities today seems to suggest that the USD’s fate has already been determined, whatever happens in the remainder of the risk events today – EURUSD looks to have broken upside resistance at 1.4876, openingWed, 14 Oct 2009 09:04:09 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-14.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-13.htmlForex News and Events: Risk appetite continues to be the core driver in fx pricing and right now positive sentiment surrounding risk assets remains intact. The CRB index in on the verge of breaking the 269 critical resistance, as commodities, including Gold and crude, continue to rally. Interestingly, oil has lagged the recent move in EUR and commodity prices and traders have begun to price in a surge higher. AUDJPY and EURJPY, two strong barometers of risk appetite, have been trading higherTue, 13 Oct 2009 09:54:01 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-13.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-12.htmlForex News and Events: A very light data calendar from Europe coupled with the Columbus Day holiday in the US means it is likely we’re in for another day where FX markets drift around in tandem with broader indicators of risk appetite, namely equity indices and commodity prices. Asian equity markets have been mixed since the open with the Hang Seng and Shanghai Composite struggling (Nikkei closed for Japan holiday), but commodity markets have remained supported with gold consolidating justMon, 12 Oct 2009 09:24:47 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-12.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-09.htmlForex News and Events: The USD has clawed back some ground today; DXY is strongly off its 75.77 lows (last at 76.25), a development attributed to Bernanke comments that the Fed would be ready to tighten rates once the economy improves. But in our minds the reaction is a little bizarre considering the remarks were identical to those published in a WSJ article dated 21 July this year: “I believe that accommodative policies will likely be warranted for an extended period. At some point, however,Fri, 09 Oct 2009 09:45:06 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-09.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-08.htmlForex News and Events: Yesterday’s surprise Alcoa profits commenced a fresh wave of optimism in the markets, as the largest Aluminium producer in the US managed to defy forecasts for a fourth quarterly loss and post a profit of 7 cents per share. FX has reacted in the anticipated way by aggressively selling the USD (DXY 75.95) and the euphoria has continued since; as Australian Unemployment levels unexpectedly fell this month (5.7% vs. 6.0% expected, 5.8% prior), dragging most G10 currenciesThu, 08 Oct 2009 09:43:51 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-08.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-07.htmlForex News and Events: Today kicks off Q3 earnings season; with market sentiment buoyed by yesterday’s RBA meeting, expectations are high for earnings releases to carry the baton of risk appetite going forward. The main release today will be aluminium producer Alcoa (expected to post its fourth consecutive quarterly loss at -0.088 cents per share), but the real market movers will be financial firms; the bulk of which will report next week. It still remains a tricky task to predict which wayWed, 07 Oct 2009 09:22:07 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-07.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-06.htmlForex News and Events: Market sentiment has been buoyed this morning after a surprise 25bp rate hike from the RBA overnight and the hawkish summation of the global recovery going forward. The move was very much ahead of the market consensus for a first hike in November, and underscores our view that the AUD will be a leading performer as the Australian economy returns to trend growth. The Australian central bank statement noted that it was no longer necessary to maintain "such a low interestTue, 06 Oct 2009 09:10:29 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-06.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-05.htmlForex News and Events: The USD has continued to lose ground against G10 counterparts (DXY 76.76) after the G7 meeting in Istanbul failed to provide any comment on the USD’s decline, or indeed on the strength of the EUR. Japanese Finance Minister Hirohisa Fujii did however appear to clarify his stance on JPY, by stating that the government would intervene if the currency moved in a “biased direction”. JPY pared some of its gains to 89.90, however this comment was in contrast to the JapaneseMon, 05 Oct 2009 09:15:25 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-05.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-02.htmlForex News and Events: Forecasts for today’s NFP are being adjusted since this month’s ADP report painted a bleak picture of the labour market. Although the headline consensus remains -175K, we believe that market expectations may have shifted to a more negative reading in light of a week of downside surprises from the US. There is still all to play for however, as the predictive power of the ADP report for NFP is notoriously poor; indeed NFP may well be the only likely source of an upsideFri, 02 Oct 2009 10:16:12 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-02.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-01.htmlForex News and Events: Yesterday’s data releases from the US were a first insight into the more important Non-Farm Payrolls and ISM to come - and the signs were not good. While the correlation between ADP Employment and NFP numbers is historically quite dubious, it almost certainly resets psychology in terms of expectations for Friday’s number; the -254k print (vs. -200k exp.) will start to cast doubts on the forecast for a slowed rate of decline in the NFP (-175k exp., -216k previous), andThu, 01 Oct 2009 09:22:15 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-10-01.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-09-30.htmlForex News and Events: It seems global optimism is the theme for the day; one of our key barometers of risk sentiment, the Shanghai Composite, is up around 1% today, and correspondingly the DXY depressed as investors once again resumed the hunt for yield. In addition, there have been suggestions of encouraging improvements in US employment data due this Friday which would further stoke sentiment and risk appetite. The economic calendar returns to the fore after a meagre few days of releases,Wed, 30 Sep 2009 09:20:22 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-09-30.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-09-29.htmlForex News and Events: In the aftermath of the G20 meeting it seems that policy makers are still clearly disturbed about the state of exchange rates. In the last few days we have heard choirs of high profile complaints against currency strength. With the EURCHF trading around the 1.5100 level, markets should be focused on the recent SNB comments, which forcefully defend action (not a "beggar-thy-neighbor" strategy) while staying committed to their current interventionist policy. In Canada, BoCTue, 29 Sep 2009 10:31:30 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-09-29.htmlhttp://www.fxstreet.com/technical/market-view/daily-forex-news/2009-09-28.htmlForex News and Events: A new week begins and risk aversion is the dominant driver of FX markets. The broad USD move lower began showing signs of fatigue last week, and after some disappointing US data (durable goods orders, existing/new home sales figures); the markets have reined back their longs in commodities and risky assets. Gold is having to re-familiarize itself with three-digit prices (trading at $988 vs. highs last week around $1020), and crude oil is down over 8% from this time lastMon, 28 Sep 2009 09:59:32 GMThttp://www.fxstreet.com/technical/market-view/support@ac-markets.com (ACM - Advanced Currency Markets)http://www.fxstreet.com/technical/market-view/daily-forex-news/2009-09-28.html