On the Forex market the Dollar
opened mixed Monday morning climbing against the Euro, but decreasing
against the Yen. As explained on the weekly report, the Dollar
presented an enormous turnaround during Friday’s trading day, propelled
by a surge on yields on the higher end of the curve. (Further
information is explained in the weekly report).
The pound continued to take a hit Monday morning as political problems further weighed on the currency.
Even though the current correction isn’t yet signaling a change in
trend, the massive four day drop has now concerned investors,
especially as the U.K’s economy is still far from out of the woods,
politically and economically. The charts also showed a problematic
situation as the GBP/USD presented signs of a reversal candle on the
weekly chart. From a technical point of view the chart presented an
inverted hammer type candle stick, one that often points to further
weakness.
The
Japanese economy showed a slight increase early morning as the economy
released that bankruptcies had declined, allowing sentiment to rise.
According to Bloomberg news, the economy is now showing a dramatic
improvement something that is leading to improving confidence among
Japanese merchants. The Dollar backed down against the Yen Monday morning, but managed to hold most of its relative strength.
Read the full article at dodjit.com
opened mixed Monday morning climbing against the Euro, but decreasing
against the Yen. As explained on the weekly report, the Dollar
presented an enormous turnaround during Friday’s trading day, propelled
by a surge on yields on the higher end of the curve. (Further
information is explained in the weekly report).
The pound continued to take a hit Monday morning as political problems further weighed on the currency.
Even though the current correction isn’t yet signaling a change in
trend, the massive four day drop has now concerned investors,
especially as the U.K’s economy is still far from out of the woods,
politically and economically. The charts also showed a problematic
situation as the GBP/USD presented signs of a reversal candle on the
weekly chart. From a technical point of view the chart presented an
inverted hammer type candle stick, one that often points to further
weakness.
The
Japanese economy showed a slight increase early morning as the economy
released that bankruptcies had declined, allowing sentiment to rise.
According to Bloomberg news, the economy is now showing a dramatic
improvement something that is leading to improving confidence among
Japanese merchants. The Dollar backed down against the Yen Monday morning, but managed to hold most of its relative strength.
Read the full article at dodjit.com
