News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
USD Graphic Rewind: Spain and Italy Set the Tone for the Week

USD Graphic Rewind: Spain and Italy Set the Tone for the Week

Adrian Robles,
USD_Graphic_Rewind_Spaind_and_Italy_set_Tone_for_the_Week_body_Picture_5.png, USD Graphic Rewind: Spain and Italy Set the Tone for the Week

2 GMT MarketScope Chart Created by Adrian Robles

FXCM US Dollar Index (ticker: USDollar) rose 10 points on the news that Italy and Spain banned shorts-selling. The ban in Span will be in effect for the next 3 months, the duration of Italy’s ban is uncertain, but will be in place for at least a week. It is not certain what affect these bans will have on the market, although equities around the world have declined on the news and the US Dollar continued to rally. After the advances seen in the first half of the trading day the USD looked as if it was ready for some short-term correction then Moody’s changed it’s outlook for Germany, Netherlands, and Luxembourg to negative. The result in the US Dollar Index was a retracement forming a hammer like candlestick pattern.

The negative news flowing out of the Euro-Zone today came ahead of the IMF and ECB inspectors’ arrival in Athens. It is likely that their findings will be closely followed by market participants, and will drive the risk trend for the currency market this week.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.