Kathy Lien is Director of Currency Research at GFT, and runs KathyLien.com.
Kathy has a Bachelors degree in Finance from New York University. Kathy has written for Stocks and Commodities, CBS Market Watch, ActiveTrader, Futures and SFO Magazine. She is frequently quoted on Bloomberg and Reuters and has taught seminars across the country. She has also hosted trader chats on EliteTrader, eSignal, and FXStreet, sharing her expertise in both technical and fundamental analysis.
After a month of consolidation, the break that we have been looking for in the currency market has proven to be real as the US dollar powers ahead and continues to extend Friday’s gains.
North Korea has stirred up the markets with news that they have conducted another nuclear test over the weekend. The dollar has rallied while the Japanese yen has sold off, but the movements in both of currencies been limited because the responses from the major powers around the world are unclear.
Today’s non-farm payrolls release lived up to its reputation by delivering to us a great deal of volatility, with breakouts seen in the US dollar against both the euro and Japanese yen.
US Non-farm payrolls for the month of September are due for release tomorrow and now more than the ever the market is riding on the event in hopes that it will bring us a much more exciting fourth quarter.
The big question tomorrow is not whether payrolls will come out over or under but whether it will come out significantly away from the market’s forecast to cause a meaningful reaction in the US dollar.
To the surprise of the financial markets, on Tuesday, Japanese car maker Toyota reported a record increase in US automobile sales in the month of September.
Continuation was today’s main theme as oil prices held below the $60 mark while stocks continued to rally, allowing the US dollar to shrug off weaker US economic data to register more gains despite signs of slower growth.
At a time when the housing market is losing steam and prices are falling, homeowners can no longer fall back on the rising value of their home as an excuse for dealing with higher mortgage payments.
Copyright 2024 Tiger Shark Publishing LLC . All rights reserved.
It should not be assumed that the methods, techniques, or indicators presented on these websites will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples presented on these websites are for educational purposes only. These set-ups are not solicitations of any order to buy or sell. The authors, Tiger Shark Publishing LLC, and all affiliates assume no responsibility for your trading results. There is a high degree of risk in trading.
Free Festival of Traders Videos
full story
printer version