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18 Sept: US$ buying relentless following the FOMC – more to come. Scotland vote today.

Despite a soft US CPI, then more importantly, the Fed's FOMC statement - keeping rates at their current levels for a "considerable time", the dollar buying has been relentless and currently has all other currencies back pedalling furiously as they make new trend lows. More of the same looks likely and there is only one trade to watch right now although that may change if Scotland vote "Yes" in today's referendum. The polls suggest otherwise. That aside, the US Housing data will be in focus but …
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17 Sept: US$ softer on WSJ article implying a less hawkish FOMC. Commodity bloc, Stocks higher.

It was a fairly directionless session today until news of a large injection of liquidity into the Chinese system from the PBOC which gave an immediate boost to risk assets, including stocks and the commodity bloc currencies. A WSJ article, suggesting that the Fed will be less hawkish than previously hoped undermined the dollar somewhat, although is has since stabilised as focus now turns to what the Fed actually do decide to say at today's FOMC. Other action will include the EU & US CPI's and th …
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16 Sept: Focus on the FOMC, Wednesday. Today sees the EU ZEW, UK CPI, US PPI, RBA Minutes.

It was a choppy, but for the most part, uninspiring session as the market turns its focus towards the FOMC, due on Wednesday (early Thursday-Asia). The OECD lowered the 2014/15 global growth outlook, highlighting the issues in the EU, but the dollar was unable to take advantage after the softer than expected US data release, where both I./P and C/U missed expectations. The EU/German/ZEW, UK CPI, and then later the US PPI will be the main focus today. Australia gets the RBA Minutes, but the marke …
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15 Sept: FX Charts weekly video outlook.

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15 Sept: US$/Cad: Trying hard to break long term resistance. A decent buy?

Buy US$/CAD. A trade idea for a medium term move higher. As you can see from the monthly chart below, the US$CAD is trying hard to break above long term resistance beginning from around 1.6000 in August 2002. Monthly If the US$ can move higher, then the first resistance would be at the Fibo resistance, […]
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15 Sept: A big week ahead. FOMC, Scotland vote, EU/US/UK CPI, SNB all due. NZ election – Saturday.

The coming week is going to be a busy one with plenty of event risk, with the main focus being on the FOMC meeting but with the Scottish Referendum Vote not too far behind and which will have very severe implications should the “Yes”vote win the day – which it won’t, I don't think. Other highlights will be the inflation data from the EU, US & UK, the latest Minutes from the RBA, BOE, an Interest rate decision from the SNB and the NZ GDP, which comes ahead of Saturday’s NZ General Elect …
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12 Sept: Commodity bloc feel the pain ahead of next weeks FOMC.

The dollar made new trend highs against the Yen and the commodity bloc today, while consolidating its gains against the Euro and Chf, as traders begin to focus on next weeks FOMC meeting. Cable did its own thing and continued to recover from the trend lows after the "No" vote in Scotland found some relief from the latest poll. Gold and Silver are testing the recent lows, both under pressure from the strong dollar, while WTI headed higher on supply concerns stemming from the Russia sanctions.Ther …
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11 Sept: US$ still firm. Aud under fire ahead of Jobs data, China CPI. RBNZ Unchanged.

The dollar remains underpinned ahead of expectations of a more hawkish mood from the Fed at next weeks FOMC meeting, while the ECB, BOJ and now the SNB look to be heading in the opposite direction. The Aud, having been a major beneficiary of the carry trade, was a big loser today and looks as though it is headed to 0.9000 and lower. Direction for the Aud today will come from the Jobs data and the Chinese CPI. The RBNZ just left rates unchanged, which caused the Kiwi to dip briefly lower. Later i …
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10 Sept: Aud lower, with the chance of more downside ahead in coming days.

The dollar remained firm today, underpinned by speculation as to when the Fed may begin raising rates, although the Euro has managed to find some stability, late in the day, despite earlier making a new trend low. The real loser was the Aud, which broke some important support and appears to have more downside potential, which could be realised today if the Consumer Confidence and China data are below par. Elsewhere, apart from the UK Inflation hearing, there is little data due and it could be a …
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9 Sept. DXY off to the moon? Could be!..A break of 84.75 would suggest so… 88.70 anyone?!

There is no holding back the DXY right now, which, as can be seen on the charts is heading higher at a rate of knots and will soon come to test the July 2013 high at 84.75. This should prove stubborn resistance, but the dollar is taking on all comers and if it can take […]
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