DailyFX -

Aussie and Euro Hit Fresh Lows but Rebound Ahead of Fed Minutes

Christopher Vecchio, Currency Analyst — Wed, 16 May 2012 16:37:00 GMT

Asian market participants dropped higher yielding currencies and risk-correlated assets to their lowest levels in at least four months as Greek concerns continue to weigh on sentiment. However, after the Aussie and the Euro hit fresh May lows against the US Dollar, their courses quickly reversed ahead today’s key release.

USD Index At Critical Juncture, JPY Correction Comes To An End

David Song, Currency Analyst — Wed, 16 May 2012 16:15:00 GMT

The greenback continued to appreciate on Wednesday, with the Dow Jones-FXCM U.S. Dollar Index rallying to a fresh 2012 high of 10,132, but the reserve currency may consolidate ahead of the FOMC meeting minutes as market participants weigh the outlook for monetary policy.

Guest Commentary: Gold & Silver Daily Outlook 05.16.2012

Lior Cohen, Energy Analyst for Trading NRG, — Wed, 16 May 2012 15:46:00 GMT

As stated in the weekly gold outlook there are many items on today's agenda: the minutes of April FOMC meeting, U.S housing starts report, ECB President speaks, Euro Area Annual Inflation and BOE Inflation Report .

EURUSD Falls Sharply After ECB Cuts Funding to Some Greek Banks

Christopher Vecchio, Currency Analyst — Wed, 16 May 2012 15:36:00 GMT

With the Greek situation starting to unravel quickly, the market has become susceptible to quick moves in reaction to headlines. Shortly after 15:00 one of those moments occurred, with Reuters reporting that the European Central Bank has cut funding to Greek banks; the EURUSD slid back under 1.2700 briefly.

Guest Commentary: MarketVisionTV - Hourly Elliott Wave Strategy USDJPY - Signs of Bullish Price Action

Don Haines, MarketVisionTV.com, — Wed, 16 May 2012 14:30:00 GMT

We still suspect the Dollar has ended the larger downside correction from the 84.15 peak.

U.S. Industrial Production Rises In April By Most Since December 2010

Tzu-Wen Chen, — Wed, 16 May 2012 13:47:00 GMT

Industrial production in the U.S. rose more than expected in April and by the most since December 2010, boosted by gains in auto manufacturing and utility use.

Sterling To Consolidate Further On Dovish BoE, Euro Correction On Tap

David Song, Currency Analyst — Wed, 16 May 2012 13:35:00 GMT

The British Pound struggled to hold its ground on Wednesday as the Bank of England struck a dovish tone for monetary policy, and the GBPUSD may continue to consolidate over the remainder of the week as it fails to maintain the upward trend from earlier this year.

U.S. Home Starts Jump in April, While Building Permits Dip

Tzu-Wen Chen, — Wed, 16 May 2012 13:14:00 GMT

Housing starts in the U.S. increased more than expected while the approval rate of residential building permits slowed in April. Housing start figures have climbed in three of the last four months, signally that the U.S. residential housing market may be stabilizing.

Euro Still Has Sights Set on 2012 Low Despite Oversold Technical Readings

Joel Kruger, Technical Strategist — Wed, 16 May 2012 11:14:00 GMT

Markets remain under intense pressure into Wednesday, although, given how stretched technical studies are looking, we wouldn't be surprised to soon see a bit of short-term relief....

Commodities Sold on Greece Woes, May Extend Losses on Fed Minutes

Ilya Spivak, Currency Strategist — Wed, 16 May 2012 11:08:00 GMT

Commodity prices fell in Europe as Greece-linked risk aversion gripped markets. Minutes from the Fed’s April meeting may compound losses as QE3 bets fade.

EURUSD: Hold Short as Second Target Nears

Ilya Spivak, Currency Strategist — Wed, 16 May 2012 11:01:00 GMT

Long EUR/GBP

Joel Kruger, Technical Strategist — Wed, 16 May 2012 11:01:00 GMT

BoE Cites Increased Risk of Disorderly Euro Outcome as Greatest Threat to UK

David Schutz, — Wed, 16 May 2012 09:52:00 GMT

Bank of England Chief King says growth outlook is worse now than in February, adds that near-term inflation outlook has risen…

Pound Eyes BOE Inflation Report, Dollar Looks to Fed to Drive Rally

Ilya Spivak, Currency Strategist — Wed, 16 May 2012 08:23:00 GMT

The safe-haven US Dollar and Japanese Yen may correct lower as a large batch of Eurozone and US economic data threatens to spark profit-taking.

Sterling Spikes as UK Unemployment Rate Surprisingly Drops in Q1

Benjamin Spier, — Wed, 16 May 2012 08:22:00 GMT

The surprising drop in unemployment supports the BoE’s decision to not implement further stimulus during the bank’s May meeting…

EUR/USD Classical Technical Report 05.16

Joel Kruger, Technical Strategist — Wed, 16 May 2012 07:07:00 GMT

GBP/USD Classical Technical Report 05.16

Joel Kruger, Technical Strategist — Wed, 16 May 2012 07:06:00 GMT

USD/JPY Classical Technical Report 05.16

Joel Kruger, Technical Strategist — Wed, 16 May 2012 07:05:00 GMT

USD/CHF Classical Technical Report 05.16

Joel Kruger, Technical Strategist — Wed, 16 May 2012 07:04:00 GMT

AUD/USD Classical Technical Report 05.16

Joel Kruger, Technical Strategist — Wed, 16 May 2012 07:03:00 GMT

NZD/USD Classical Technical Report 05.16

Joel Kruger, Technical Strategist — Wed, 16 May 2012 06:58:00 GMT

EUR/JPY Classical Technical Report 05.16

Joel Kruger, Technical Strategist — Wed, 16 May 2012 06:56:00 GMT

USD/CAD Classical Technical Report 05.16

Joel Kruger, Technical Strategist — Wed, 16 May 2012 06:56:00 GMT

GBP/JPY Classical Technical Report 05.16

Joel Kruger, Technical Strategist — Wed, 16 May 2012 06:55:00 GMT

US Dollar Index Classical Technical Report 05.16

Joel Kruger, Technical Strategist — Wed, 16 May 2012 06:53:00 GMT