Forex Bull

by Johan Kriek (jkriek@fxinstructor.com) Key notes: – Dollar weakens across the board, violates significant support on Dollar Index – US Jobless claims at 26-year high – Any news about Auto makers bailout could spark a market frenzy, after all, it is Friday today Key events: (Times are GMT) – 10:00     Eurozone Industrial production – 13:30     U.S. PPI – 13:30     U.S. PPI core – 13:30     U.S

Already seeing a weak start off the poor NY trade, Asian equity indices are seeing sharp losses on the rejection by the US Senate of the auto bailout plan with just 52 saying yes to the legislation, eight short of the mark. For the currencies this has meant new lows already seen out of USDJPY and GBPJPY even as risk aversion becomes a theme across the board

Go here to see the original:  Identifying Trades with DailyFX 12.12.08 (Daily FX)

The Japanese Yen roared higher in overnight trading as the US Senate failed pass a vote that would have led to a decision on a bailout plan for America?s top three automakers. Risk appetite rapidly evaporated, sending stock index futures lower and pushing USDJPY to levels unseen in 13 years.

The US dollar was already falling across the majors this morning when the release of US economic data at 8:30 ET suggested that the Federal Reserve will indeed cut rates aggressively next week.

The Japanese yen remains exceptionally strong against the US dollar, which is partially a function of broad greenback weakness but also the result of lingering risk aversion, as the DJIA ended the day down 2.24 percent.

Fri, 12th of December, 2008 By Setyo Wibowo (analyst@fxinstructor.com) EURUSD Outlook As I had expected yesterday, the EURUSD made another bullish momentum.

New video for tonight – main points include: Today certainly was a bearish day as three-day support was broken and futures are already down for tomorrow.

Gold and other commodities prices closed higher Thursday after retreating from earlier highs as fears grew that a rescue for the nation’s major auto companies might fall through.

The British pound gained some ground on Thursday thanks to broad US dollar weakness.