{"id":13273,"date":"2010-09-23T08:40:37","date_gmt":"2010-09-23T12:40:37","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=13273"},"modified":"2010-09-23T08:40:37","modified_gmt":"2010-09-23T12:40:37","slug":"dollar-weakness-continues","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/09\/23\/dollar-weakness-continues\/","title":{"rendered":"Dollar Weakness Continues"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong> &#8211; The dollar continues to fall as traders sell the dollar in light of  the Fed\u2019s recent comments that open the door for more quantitative  easing. However, the euro is rising despite a selloff in equities.<\/p>\n<p>Yesterday the Dow Jones Industrials  finished the day down 0.2%. Despite the down day for equities, the  dollar was also weaker with the euro and the Swiss franc putting in a  strong performance.<\/p>\n<p>Today traders are going to be eyeing data releases in the US for direction in the FX markets.<\/p>\n<p>USD \u2013 Unemployment Claims \u2013 12:30 GMT<br \/>\nExpected: 451K. Previous: 450K.<\/p>\n<p>The weekly data for new unemployment benefits may surprise the market  with a positive outcome, helping to increase risk appetite and a rise  in the rate of the EUR\/USD. Traders should be targeting their EUR\/USD  bets at 1.3510.This level is the 50% Fibonacci retracement from the 2009  high. Support is found at the height of the June to August bullish move  at 1.3330.<\/p>\n<p>USD \u2013 Existing Home Sales \u2013 14:00 GMT<br \/>\nExpected: 4.11M. Previous: 3.83M.<\/p>\n<p>This report measures the annualized number of residential buildings  that were sold in August. If the report comes in positive, it is  typically dollar positive. But this time we may see the report serve to  increase risk taking and provide a boost to the weakened US equity  markets. This would in turn spur traders to sell the dollar and buy  higher yielding currencies such as the Aussie dollar. The AUD\/USD could  rise to yesterday\u2019s high just below the 0.9600 level.<\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                                        may     not    be          suitable     for     all             investors.            There       is   a                            possibility              that                  you      could             sustain a    loss          of   all      of          your                          investment  and                        therefore   you                 should      not             invest             money    that       you                   cannot           afford to                lose.   You                 should      be           aware      of           all       the         risks                    associated       with             Foreign             Exchange                  trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Russell Glaser &#8211; The dollar continues to fall as traders sell the dollar in light of the Fed\u2019s recent comments that open the door for more quantitative easing. However, the euro is rising despite a selloff in equities. Yesterday the Dow Jones Industrials finished the day down 0.2%. Despite the down day for equities, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/09\/23\/dollar-weakness-continues\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Dollar Weakness Continues&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-13273","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/13273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=13273"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/13273\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=13273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=13273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=13273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}