{"id":19298,"date":"2011-02-11T09:41:35","date_gmt":"2011-02-11T14:41:35","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=19298"},"modified":"2011-02-11T09:41:35","modified_gmt":"2011-02-11T14:41:35","slug":"a-fundamental-recap-of-the-week-of-feb-7-11","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/02\/11\/a-fundamental-recap-of-the-week-of-feb-7-11\/","title":{"rendered":"A Fundamental Recap of the Week of Feb. 7-11"},"content":{"rendered":"<p><strong>By Dan Eduard<\/strong><\/p>\n<p>Market  volatility was low at the beginning of this week, as a slow news cycle  failed to generate significant amounts of trading activity.  That all  changed on Wednesday, when a speech from Fed Chairman Ben Bernanke  caused investors to overwhelmingly short their USD positions.  Bernanke  sounded a pessimistic note with respect to the US employment sector and  budget deficits.  As a result of the speech, the EUR\/USD took off,  reaching as high as 1.3742 by the end of the day.  The USD\/JPY dropped  close to 30 pips, while the GBP\/USD moved up close to 80.<\/p>\n<p>The markets shifted course on Thursday, following the release of the latest <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/02\/10\/usd-may-see-upward-correction-today\/\">US Unemployment Claims <\/a>figure.   The figure came in at 383K, well below initial estimates and  represented a 2 1\/2 year low in new jobless claims.  Investors reverted  back to the greenback as a result, and the currency moved up against  virtually all of its main counterparts.  The EUR\/USD dropped close to  100 pips as a result, while the USD\/JPY went as high as 83.35 before the  end of the day.<\/p>\n<p>The USD remained bullish to close out the week, as the combination of  renewed confidence in the US economic recovery continued to grow, while  fresh concerns regarding <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/02\/11\/usd-bullish-as-euro-zone-debt-concerns-reemerge\/\">European debt <\/a>drove  investors to the greenback.  Whether or not the greenback can maintain  this trend into next week is yet to be seen.  Next Wednesday in  particular looks to be a particularly big day for US fundamental news.   Positive results from any of the more significant economic releases are  likely to generate more momentum for the dollar.<\/p>\n<p><em><strong><a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/em><em><strong><a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><br \/>\n<\/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>Market volatility was low at the beginning of this week, as a slow news cycle failed to generate significant amounts of trading activity. That all changed on Wednesday, when a speech from Fed Chairman Ben Bernanke caused investors to overwhelmingly short their USD positions. <\/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-19298","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19298","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=19298"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19298\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=19298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=19298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=19298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}