Forex Yellow Pages

After holding onto its gains for the past week, the US dollar finally came under pressure today, It fell against the Euro, the Japanese Yen, the Australian, New Zealand and Canadian dollars. The only currency it did not drop against was the Japanese Yen, which benefitted from overall carry trade demand. Does this mean that the rally in the dollar over? Probably not. Despite the rebound in the EUR/USD today, the currency pair still remains within its 1.43 to 1.45 trading range. Even the AUD/USD and NZD/USD are capped below resistance. Next week, trading should be exceptionally quiet which means that a break of these resistance levels is unlikely.

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“Just do it.” – Nike.

Everyone’s heard it, everyone’s see it, and many of you wear it on those big dogs you call your feet.

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Crude oil closed lower on Monday after another volatile day of trading. Light sweet crude for January delivery moved at $87.86, down 42 cents on the session. Crude climbed as high as $89.80, but began to decline in the mid-morning before leveling off. Traders looked ahead to Tuesday’s FOMC decision and Wednesday’s inventory data, and also continued to mull last week’s OPEC decision.

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Copper moved higher on Wednesday amid the release of some positive economic data in the U.S. March closed at $3.016, up $1.80 on the session. The industrial metal pared some of its losses from earlier in the week.

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