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.
Yesterday we asked the question of whether consumers can really be happy with low non-farm payrolls, rising gasoline prices and escalating tensions in the Middle East. Today we have our answer: yes.
Being a Federal Reserve Chairman is difficult, but being a new Fed Chairman in an environment where growth is slowing, inflation is rising, the housing market is showing signs of weakness and geopolitical risks are widespread is even harder.
When political uncertainty brews and wars break out in industrialized nations, the dollar is historically the safe haven for those investors who want assurance that their capital will be there tomorrow. This time around with tensions popping up on three fronts, an assured 5.25 percent return on a nearly guaranteed US asset seems to be a plan most government bodies, banks and traders are looking at.
All is quiet on the US calendar today but with many hotspots around the world igniting, the markets have been anything but boring. Oil prices have hit yet another new record high and that has helped the Canadian dollar recuperate some of yesterday's losses, while gold prices continued its relentless climb, aiding in Aussie strength.
A stronger trade balance report has helped the US dollar recuperate yesterday’s losses, but for the most part, the currency pair remains trapped in a tight trading range.
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