Greek Revival?
By Mike Conlon | March 3, 2010
No I’m not talking architecture this morning; I’m talking about the austerity measures Greece is proposing to undertake in order to satisfy the French and the Germans. Now if they can just keep their citizens from rioting in the streets they might just be able to pull this off. Meanwhile, the Euro is higher to 1.365 vs. USD.
Also higher this morning is the British pound, which is bucking a 6-day slide. Sort of like God, on the seventh day it rested! The Canadian dollar is higher in a continuation of yesterday’s news.
So this morning is sort of a mixed bag. More news driven than risk-oriented, it will be interesting to see if the currencies fall back in line.
In currencies:
Aussie (AUD): Australian GDP came in this morning a little bit higher year over year, though not gangbusters as we may have been lead to believe. While the economy has been moving along nicely and is well-positioned for growth, the lack of explosive growth means that we could see a pause to near-term rate hikes. The forex market can be so greedy at times! The Aussie is mixed this morning.
Kiwi (NZD): The kiwi is down today across the board and is trading near a 10-year low to the Aussie. It looks as though the market is attempting to re-define the Kiwi’s place in the “risk totem pole”. Nevertheless, the Kiwi economy is still on track and they do provide 2.5% interest, making it a good destination for carry trades. I think the market realizes that the economies of Australia and New Zealand are quite different, and the Loonie looks poised to replace the Kiwi, as traders speculate that rate hikes may be coming sooner in Canada then in New Zealand. This makes the Kiwi/Loonie pair the largest loser of the morning, down some 1.15%.
Loonie (CAD): The Loonie is benefitting this morning from yesterdays interest rate decision as the market is now starting to believe that Canada may be the next to raise interest rates. The Loonie is up across the board this morning.
Euro (EUR): The Euro is higher against all but the Loonie and Pound, as proposed Greek austerity measure are giving hope that the debt problem won’t spiral out of control. This is coming ahead of the Euro zone GDP report and interest rate decision due out tomorrow. Rates are not expected to change and any surprise to the upside on GDP would be viewed as positive by the market.
Pound (GBP): The Pound is higher this morning after consumer confidence figures came in better than expected. I’m not so sure why they are so confident but to each their own. Tomorrow is the BOE’s decision on interest rates and quantitative easing. Deficit reduction is a major priority in the UK so it will be interesting to see if they need to continue to stimulate the economy at the expense of increasing debt. Stay tuned!
Dollar (USD): The Dollar is down against all but the Kiwi as job cuts have fallen to their lowest levels since 2006. All this means is that employers plan on firing less people. They are still not in “hiring mode” so the “jobless recovery” continues as political uncertainty and Friday’s Non-Farm Payrolls report loom heavily over the market.
Yen (JPY): The Yen is mixed this morning, giving back some gains against the European currencies yet higher vs. the Aussie and Kiwi. As no real risk themes are presenting themselves today, the yen is benefiting from a little bit of carry trade unwind and it looks like some of that carry trade money is going toward the Loonie. No real news out of the region today besides a reading of higher worker earnings, which could help push domestic demand.
The markets aren’t always dominated by risk themes so it is really important to pay attention to the overall economic news for the most widely traded currencies. Slight changes can have large effects in individual currencies which can “break out” of the usual order. In these situations, there is great opportunity as sometimes the market is slow to catch on. My trumpeting of the Loonie over the last few weeks is one such example.
To learn more about how you can take advantage of world events through the currency market, be sure to check out our currency trading courses!
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US Earnings Increase World Confidence!
By Mike Conlon | February 17, 2010
US stock futures are higher this morning in the wake of a flurry of good corporate earnings reports. Of course many will tell you that “it’s easy to make money when you fire all of your employees”, but regardless of how the money was made, it bodes well for world economic growth.
This has buoyed forward further stock gains in a continuation of yesterdays market action. As a result, we are seeing further risk-taking in the markets, with world stock markets and commodities higher, and the US dollar and Japanese yen lower. Whether or not the market can hold on to these gains remains to be seen.
In world currencies:
Aussie (AUD): Predictably, the Aussie is trading higher this morning, particularly against the yen as higher risk takers seek yield. Notes from the RBA meeting referenced higher rates were only a matter of time and that they were close to pulling the trigger at the last policy meeting. Thus traders have increased their bets that this rate hike could take place in March.
Kiwi (NZD): The Kiwi is also higher on risk-taking and higher commodity prices, though the economy in New Zealand is not as strong as its neighbor Australia. Rates are seen as being stable until the second half of the year, so expect the Kiwi to continue to fluctuate on the market risk themes. New Zealand will be reporting its consumer confidence numbers tomorrow so this could give some insight into retail sales and possible inflation or lack thereof.
Loonie (CAD): The Loonie keeps chugging along near its highest level this month, helped higher by oil prices over $77 and an overall good economic picture. However, Canada eased pressure on potential rate hikes by tightening mortgage requirements, trying to prevent a housing bubble through regulation rather than interest rate hikes. If Canada can stave off further housing gains, they may be able to contain inflation without having to move on rates.
Euro (EUR): The Euro is mostly down this morning, trading higher vs. only the Japanese yen. I could continue to beat this Greece theme to death but the market will be moving in and out of confidence in the common currency as more and more “news” comes out. There is still great structural risk to the Euro, and fears of contagion to the other PIIGS countries always keep investors on their toes.
Pound (GBP): The Pound is mixed this morning, as the BOE voted unanimously to suspend its Bond-Purchase (QE) program on optimism that inflation will return to their 2% target rate. Recall that just yesterday, inflation came in hotter than expected at 3.5%. The British are famous for their “wait and see” approach and conservative measures. In the meantime, unemployment jumped to its highest level in 13 years, against an expected decline.
Dollar (USD): The dollar is showing strength this morning despite the stock futures and commodities markets trading higher. I expect some sort of “reversion to mean” to mean to take place today, with either stocks or the dollar pulling back, or a combination of both. US housing starts came in higher than expected this morning, showing that the economic recovery may be getting stronger and increased demand for housing may be picking up.
Yen (JPY): The Yen is at a 2-week low, trading at over 91 per US dollar, further cementing itself as the fuel for carry trades. The yen is down across the board ahead of tomorrow’s interest rate decision, where policy makers are expected to keep rates at .1%.
In overnight markets, Asia was up big with the Nikkei leading the way up 2.72%. European stock markets are also currently higher, all nearly posting better than 1% gains at the moment. In commodities, oil is just under $77 and gold is around $1118.
Overall, today is a bit of a mixed bag, with US dollar strength competing with the stock market for investor dollars. While risk-taking seems to be en vogue today, this could change at any point in time. While there is no real news that should derail this theme today, anything is possible.
To learn more about how you can take advantage of world events through the currency market, be sure to check out our currency trading courses!
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Possible Greek Bailout?
By Mike Conlon | February 9, 2010
So much for trading sideways yesterday. What started out as a quiet start to trading ended up with a continuation of last week’s sell-offs in the stock market, as the Dow closed below 10K for the first time this year. However, both gold and oil were up slightly yesterday, showing signs that some of the correlations that we often speak of may be breaking down.
This morning, markets are trading higher as hope is coming out of the Euro zone that the other European nations may be coming to help Greece in tackling their budget deficit. As you would expect, this is causing some risk-taking this morning.
Let’s look at what this means for the currencies:
Aussie (AUD): In addition to general risk themes this morning, the Aussie is trading higher as comments from the RBA’s Governor Stevens said that keeping rates low “may help cause bubbles and credit booms.” Also to note that Central bankers from around the globe are meeting in Australia to discuss the fallout from the credit crisis and to proceed going forward. It will be interesting to see if anything of substance comes out of this meeting, or is more of just a show.
Kiwi (NZD): The Kiwi is the largest gainer this morning, up 1.4% vs. JPY and 1.15% vs. USD. Higher commodity prices and risk-taking are fueling buying in the Kiwi. The Kiwi was also one of the biggest losers last week so it is also benefiting from some technical buying, as it holds near-tern support at .68 vs. USD.
Loonie (CAD): As mentioned yesterday, the Loonie is going to trade primarily on risk themes and commodity prices and today is the day that higher prices are lifting the Loonie, which is up against all but the Kiwi and Aussie, assuming its position of “3rd rung” on the risk-taking ladder.
Euro (EUR): The Euro is higher this morning on speculation that Greece is going to be bailed out by the rest of the Euro zone countries. Apparently ECB President Jean-Claude Trichet has left the policy meeting taking place in Australia to return home to conduct EU business. This has lead to traders bidding up the Euro in anticipation of a solution being realized. Also the Euro is benefiting from its status as the “anti-dollar”, which is down today.
Pound (GBP): The bound is down this morning on a weak retail sales report that climbed at its slowest pace in almost 15 years. Traders are positioning themselves ahead of the UK inflation report due out tomorrow which could be weaker than expected if the retail sales figures are indicative of slow UK growth, keeping inflation tame and not giving the BOE any reason to raise rates in the near future.
Dollar (USD): The Dollar is giving back some gains after a going on a four-day tear as the risk aversion was the dominant theme last week. The Dollar is down vs. all but the Yen, and could strengthen to 90 vs. JPY is risk themes hold up today.
Yen (JPY): The Yen is the biggest loser this morning as risk appetite is driving carry trades this morning. Should any news come out of the Euro zone regarding a solution for Greece, then we could see some further depreciation as it would be “game on” for further risk-taking.
This morning is going to be a big open as US stock market futures are significantly higher. The Dow could open up some 100 points and oil and gold are also trading higher, with oil at 72.5 and gold at 1075.
In overnight markets, Asia was up primarily with the exception of the Nikkei which was down slightly, and Europe is currently up across the board on Greece bailout hopes.
Should the market hold onto and not give back gains, then I expect to see further dollar and yen weakness.
To learn more about how you can make money in the currency market, be sure to check out our affordable currency trading courses.
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Carnage to Continue?
By Mike Conlon | February 5, 2010
In the wake of yesterday’s market carnage, all eyes were on this morning’s US Non-Farm Payrolls (NFP) report. The market was praying for a decent number to justify a move to the upside, as yesterday was the biggest one day drop we’ve seen in some time. World markets got crushed to the tune of 2.5% on average, and commodities sold off as well. As I correctly called yesterday morning, “Ugly with a capital U”.
So the markets were grasping for any positive news to reverse this down-trend and they “may” have found it in this morning’s NFP report. The NFP, which measures job loss, came in at -20K. Expectations for this number were all over the place but the fact that there wasn’t job growth would normally be seen as negative. However, the ray of hope in this report is that the unemployment rate dropped to 9.7% for the month, down from 10%. Now I’m no mathematician, but it seems highly suspect to me that the unemployment rate can go down, even as we see continued job losses. But whatever, in early trading it looks the market is going to “take the ball and run with it” as futures have bounced off of their lows. It would not shock me to see the market wake up at some point and realize it didn’t get what it is looking for. Today may be a continuation of Thursday’s bloodbath.
Here’s how the currencies are doing this morning:
Aussie (AUD): The Aussie was up in early action this morning paring back some of yesterday’s losses, as the initial reaction to the NFP was positive, encouraging some risk-taking. Whether this can hold throughout the day is another story. With all of the fear and uncertainty out there, investors may flee to safety over the weekend. Contributing to Aussie strength was the RBA’s Quarterly Monetary Policy Statement that stated that “economic growth will continue to accelerate, even if the policymakers are forced to raise the benchmark interest rate by ¾ of a point.
Kiwi (NZD): The Kiwi is up this morning vs. the Dollar and Yen, as mild risk-taking is still the theme at this point in the morning. No major news out of New Zealand.
Loonie (CAD): It’s a good morning in Canada today, as the Canadian economy gained 43K jobs last month, reducing the unemployment rate to 8.3%. This makes the Canadian dollar this morning’s big winner, as it is also benefiting from mild risk-taking and the bounce in oil. It is up across the board this morning, most notably against the Japanese yen.
Euro (EUR): Yesterday was a tough day for the Euro, as the flight to safety trade sent the common currency to a 6-month low near 1.365 vs. the dollar. The Euro is also known as the “anti-dollar”, so it gets hit particularly hard when there is major risk aversion. Throw in the problems with the PIIGS countries, and it’s no wonder ECB President Trichet was out this morning trying to defend the Euro and instill confidence that the potential contagion from the Greek “tragedy” will not spread throughout the region. It looks like the Euro may re-test that low as it currently sits near that low.
Pound (GBP): The pound is down this morning against all but the yen on the risk aversion theme.
Dollar (USD): The dollar had a huge rally yesterday and is mixed this morning, down against the commodity currencies but up against the Euro, Pound, and Yen. We could continue to see some near-term dollar strength, as heightened sensitivity to risk is occurring around the globe and market trends are pointing in that direction.
Yen (JPY): The yen is also mixed this morning, following the same themes as the US dollar, though down against USD.
In world markets, the Asian stock market got clobbered and closed down.
European stock indices are currently down as are the US markets, although it looks like we may have a reversal here in the US as the media monkeys try to put as much lipstick as possible on that NFP pig!
Gold and oil are flat, waiting for stocks to decide which way they want to go. Commodities were down roughly 3% yesterday.
As you can see, there still is MAJOR fear out there as economic recovery is not taking place as quickly as anyone would like. What I really want to stress here is that on a day like yesterday, when nearly EVERYTHING was down, the only 2 places to park your money that went up were in the currency market. If you had bought dollars or yen yesterday, you were a happy camper while everyone else was crying in their coffee.
Isn’t it time you see what this market is all about?
To learn more about how you can make gains even when nearly EVERYTHING is going down, be sure to check out our affordable currency trading courses.
To follow world events live with a free, real-time practice account, click here! Don’t miss out on the world’s fastest growing market!
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No Recovery in Sight!
By Mike Conlon | February 4, 2010
US Initial Jobless Claims came in worse than expected this morning, rising to 480K, the highest level seen in three weeks. Analysts were expecting a slight decrease, so that makes this number “unexpected”. (As a side note, how sick and tired are you of hearing about “unexpected“economic reports as reported by media outlets?) Also to note this morning is that both the UK and the Euro zone left rates unchanged, which was not “unexpected”. So needless to say, this morning is a risk-aversion day.
Here’s the rundown of world currencies:
Aussie (AUD): The Aussie is down this morning as expected. The major news for the Aussie will be made overnight as the RBA will come out with its quarterly monetary policy statement. There was a bit of new this morning that retail sales figures in Australia were down (MoM) to -.7%, showing a negative figure as consumers are starting to become more interest-rate sensitive.
Kiwi (NZD): The Kiwi is getting smacked this morning with the double whammy, losing value due to risk-aversion but also contributing was their unemployment report. Unemployment in New Zealand rose to 7.3%, the highest level in over 10 years, dampening hopes for any rate hikes in the near future.
Loonie (CAD): Building permits in Canada increased in December, showing signs that there may be hope for economic growth. However, the Loonie is down this morning, suffering from its correlation to oil and the general risk-aversion theme.
Euro (EUR): The Euro is down this morning against all but the Aussie and Kiwi, assuming its rightful place in the risk pecking order. The ECB voted to keep interest rates unchanged at a record low 1%, as concern about Greece stills weighs heavily on the common currency. There is a fine line the Euro zone countries are walking, attempting to encourage growth while at the same time reduce deficits and rein in budget shortfalls.
Pound (GBP): The BOE also kept rates unchanged at .5% and has also announced plans to not expand its bond purchase program (QE) for the first time since the program was initiated last march. The UK is trying to balance the threat of inflation at the expense of economic growth. It is also important to know that general elections are coming up in May and the “throw the bums out” mentality has made its way to the other side of the pond and is not only popular in the US. So the BOE is also taking potential political change into account.
Dollar (USD): I’ve already touched on the bad news about initial jobless claims, and tomorrow’s Non-Farm Payrolls Report (NFP) is weighing heavily on the US economy. Readers of this blog know that of course that means the dollar is up, as the flight to safety trade takes hold. Lost in the mix are pretty decent earnings reports coming out of the stock market, though as a most likely result of cost-cutting and firing workers. See the irony here?
Yen (JPY): Lastly, the Japanese yen is the big winner this morning, benefiting from the risk-aversion trade. Because of its status as the reserve currency for the carry trades, when risk aversion takes place, demand for yen goes up as traders flee riskier currencies.
As I scan the different news wires, I can’t help but notice that I haven’t seen one piece of encouraging news out there that would lead me to believe that economic recovery is gaining traction. The only silver lining I found, decent corporate earnings, is a joke compared to what’s going on out there.
At the US market open, stocks are down. Europe is down currently and Asia closed down overnight. Not to be Debbie Downer here but today could be ugly with a capital ‘U’. Oil is down to 76 and change, and gold is down testing 1100.
Remember, in order to benefit from a strengthening dollar, you have to sell a different currency and buy dollars to make gains! Just having dollars in your bank account does you no good except potentially influence your purchasing power. The only way to take advantage of these moves is through the forex market. When you’re sitting there looking at a red screen (because everything is down) and have no idea where to put your money, the forex market can give you a safe haven.
Isn’t it time you looked at this today? To get set up for a free, real-time practice account, click here.
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Canada CPI, Risk Aversion Rule!
By Mike Conlon | January 20, 2010
This morning, Canada reported its CPI number which came in at -.3% for December and the year over year number at 1.3%, both of which were less than expected. This is significant because the CPI is a measure of inflation, and this number is much less than the Bank of Canada’s inflation target of 2%.
What this means is that it is highly doubtful that that the Bank of Canada will raise rates anytime soon. As I mentioned yesterday, this all but takes a rate hike off of the table until at least the second half of the year. As a result, the Canadian dollar (CAD) is down the most today, especially against the US dollar (USD) and the Japanese yen (JPY) -1.7% and 1.3% respectively.
Also to note is that today is a risk-aversion day. News out of China that they are going to restrict bank lending is a sign that they may be trying to slow down growth and are growing concerned about a potential real estate bubble. As a result, both the Aussie (AUD) and the Kiwi (NZD) are down as well.
The US stock market is also down on China fears, as is both oil and gold. So the Loonie is getting hit with the “triple whammy” today between risk aversion AND CPI numbers.
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Earnings Start Slow, Move to Risk-Aversion!
By Mike Conlon | January 12, 2010
US corporate earnings season began yesterday after the close as Alcoa (AA) kicked off Q4 with a less-than-stellar report by missing analyst expectations by 5 cents. While this is only one company reporting, the market is fearing that this could be a harbinger of things to come. One of the important things to note is that Alcoa, an aluminum maker, cited higher metals costs and lack of demand for product as the impediments to growth. Higher costs, lack of demand.
As a result of this report, stock market and commodity futures have sold off and the Japanese yen (JPY) and the US dollar (USD) are showing strength this morning in what looks like a risk-aversion theme for the day. With commodity prices off, we are seeing the Aussie (AUD), Kiwi (NZD), and Loonie (CAD) showing the biggest losses.
One of the problems with this earnings report out of Alcoa is that it is hinting that recovery from recession may not be as robust as traders (and government) had hoped. Much of the “good earnings” from last year were due to mass lay-offs and cost-cutting and NOT due to growth. Combined with the massive government stimulus programs that may or may not have been effective in doing anything, the stock market could be in for a near-term correction.
Should this occur, then I would expect strength in the risk-aversion currencies and weakness in the commodity currencies and the Euro (EUR).
However, this is only ONE report out of many to come. Also to note is that traders will be focusing on this Friday’s US CPI data. Any significant rise in prices could put a Fed rate hike back into play and cause more equity selling and USD buying.
While I don’t expect Bernanke to due anything on the rates until at least the summer, this could prompt increased jaw-boning as he attempts to keep the dollar from total collapse. If the equity markets can come out of earnings season relatively in tact, then I expect risk-taking plays to be back on the table.
What we should expect is volatility in the markets, as traders push markets back and forth based on the “data du jour”. So I’m going to keep my trading short-term, but with a long-term bias toward risk-taking plays. This means I’ll be selling dollar rallies, and buying commodity dips.
Until I actually see something credible that would support a Fed rate-hike, I will keep this stance.
Short-term trading in range-bound markets can be extremely profitable and low risk– provided you know what you’re doing!!!
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There’s lots of money to be made in the forex market, don’t let this opportunity pass you by!!!
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Waiting for US Consumer Confidence 10AM EST!
By Mike Conlon | December 29, 2009
This morning’s trading is marked by an increase in risk appetite, with the Australian dollar (AUD) and the New Zealand dollar (NZD) leading the way. AUD/USD is +1.33%, AUD/JPY +1.45%, NZD/USD is +1.74, NZD/JPY +1.86%. All this comes in anticipation of the US consumer confidence numbers, which are expected to have improved from previous readings.
Also to note is the increased feeling that the global economy is recovering as we get encouraging news from various regions and sectors of the world economy.
Two things I wanted to address:
I have written at length recently about the possibility of the US dollar’s inverse correlation to equity and commodity markets breaking down, as both the dollar and the equities seemed to be trading in tandem. And while I do think that there are definitely conditions where this can exist, I do feel that in the New Year we will see some sort of “reversion to mean”. This means that the recent break could be more of a short-term phenomena than the start of a long-term trend.
One of the reason the dollar could have strengthened is simply short covering. The trade this year has clearly been dollar down everything else up so investors could be lightening the load.
Another possibility that I haven’t mentioned before but got to thinking about was potential government involvement. We’ve all heard of the plunge protection team (PPT) in the equities market, so why not currencies as well? It seems like Larry Summers, director of the National Economic Council, has been awful quiet lately. Let’s not forget his involvement in running the Harvard Endowment into major losses under his watch. In other words, he’s no stranger to making large bets with other people’s money.
So what’s a few billion between friends? I would not be surprised at all to hear of “government market operations” used to “maintain order” in the currency markets. And while this is all speculation on my part, I wouldn’t be surprised to hear of Fed window dressing as well.
As we can see today, the Santa Claus rally is still in effect as stocks are up, yet we’re seeing more risk taking in the currency markets, particularly in the Kiwi (NZD).
Secondly, with regard to the risk trades, look for the Kiwi (NZD) to outpace the Aussie (AUD) as the vehicle of choice for the risk trade going forward. While the Aussie has been the the best performing currency of 2009, investors are betting that we’ve seen the last of the RBA rate hikes for a while and that New Zealand could be next.
Here’s a quick chart of AUD/NZD (click chart to enlarge)
So I expect to see some Kiwi strength against the Aussie in the near-term. There is support at 1.24 for this pair so it will be interesting to see what will happen if it gets there.
In the meantime, keep an eye on the USD to see if we “revert to the mean”.
To learn more about the exciting forex market, take a look at our currency trading courses!
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Support and Resistance!
By Mike Conlon | December 10, 2009
You have probably heard the phrase “support and resistance” thrown around with regard to technical analysis and price charts. This is one of the most basic and fundamental concepts in analyzing charts. Support is the area on the chart where there is buying interest, and resistance is the area where there is selling interest.
Why do I mention this now? Yesterday’s trade on the New Zealand Kiwi (NZD/USD) is a perfect example of how support and resistance works. Let’s take a look at what happened yesterday and why support and resistance is such an important concept.
(Click charts to enlarge)
Looking at the above three charts, you can see how resistance was identified at .7185. In the first chart, once the price of the pair traded up to resistance, it paused and consolidated a bit as all of the sellers were absorbed at that level.
In the second chart, once the pair broke through resistance, it settled back down and now used what was formerly resistance as support. This means that there is now buying interest at that level.
In the third chart, you can see the pair extend for roughly another 100 pips.
What these chart illustrate is a classic case of when resistance becomes support. Savvy traders who can identify where these levels are can take advantage of low risk entry points for profitable trades. And the same thing also works on the other side, when support can become resistance.
Knowing how to identify these areas can be the difference between making and losing money. The professionals know how to find these areas, shouldn’t you?
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All Eyes on Kiwi!
By Mike Conlon | December 9, 2009
The biggest gainer so far this morning is the New Zealand dollar (NZD) aka Kiwi. It is up .76% vs. USD and .51% vs. CAD. Part of the reason for this is that at 3pm EST today, New Zealand will have their interest rate decision. It is expected that they will remain at 2.5%, but don’t rule out a hike.
Australia will be announcing their employment figures this evening, which are expected to be robust. The Aussie has maintained strength as the Australia economy has exited recession (if they actually were in one to begin with, which is debatable) and they have been the only major economy to have raised interest rates this year.
There is a tentative link between the New Zealand and Australian economies, though based more on geography than actual output measures. So while a rate hike is improbable, it is not completely off the table.
Let’s take a look at the 4 hour chart of NZD/USD: (click chart to enlarge)
Just looking at the chart, it looks like the pair could trade up to the .7175 level. In the event of a rate hike, I would expect the pair to move swiftly through that level. If there is no hike, then its possible that the pair will resume the trend down.
As of right now, both the Kiwi and the Aussie are bucking the normal risk trade, trading up vs. the USD dollar even though US stocks are down slightly this morning.
With both gold and oil up, I expect we may see a stock market reversal some today if the US dollar remains week.
So keep an eye out for 3pm EST to see what happens with NZD!
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Tags: account, Aussie, blog, cad, course, currenc, currency, dollar, dow, economy, forex, forextrading, fx, fxedu, Il, interest, interest rate, interest rates, market, Mike Conlon, money, nzd, pair, practice, recession, ssi, time, trade, trend, USD
Topics: What To Look At In The Market | No Comments »