Despite rallying to a record high, the EUR/USD looks vulnerable to a break from current levels. The move through the old top at 1.6019 to 1.6038 looks more stop than buy driven. Like the top in April, there was no

The GBP/USD surged to an almost four month high on stronger than expected inflationary news out of the U.K.. Financial market traders in the U.K. are taking this as a sign that the Bank of England is in no position

The huge break in the USD/JPY as a result of the sell-off in the U.S. stock market may have been overdone as the stock market recovered late in the day. The expanded range and volatility may have been capitulation of

The main trend turned up in the NZD/USD on a trade through .7662. The follow through to the upside indicates that it was real buying other than short-covering. Look for this move to continue to .7830 to .7921 before traders

The AUD/USD moved to a new multi-year high as traders are chasing the 7.25% yield in Australia. The weak U.S. economy and deepening financial crisis is making the Aussie a much more stable investment. Look for this trend to continue

The USD/CHF fell sharply to the downside target of 1.0013 and posted a low at 1.0010 before profit-takers and bottom pickers came in to stop the break. This pair is experiencing weakness as traders are dumping U.S. Dollars from the

The Bank of Canada decided to leave interest rates unchanged at 3.0% on Tuesday. Although inflation is expected to remain high, the core inflation is well within its limits. Traders continued to sell the USD/CAD on the weakness in the

Cott Corporation (NYSE: COT) announced today that the company will be hosting a conference call on July 31, 2008, at 10 a.m. ET to discuss the financial results for the second quarter ended June 30, 2008. The company will be

June retail sales data disappointed slightly, posting an increase of 0.1% m/m (DB: 0.4%, consensus 0.4%) and 0.8% m/m ex. autos (DB 1.1% m/m, consensus 1.0% m/m). While the trend in retail sales remains robust for now, the slightly disappointing

Is it a new dollar low? Close, but no cigar yet! The dollar has been hammered lower this morning. But its bouncing higher the Big Boys, Bernanke, Bush and Paulson add to the public commentary this morning. But If you

Overall retail sales rose 0.1 percent in June, reflecting another drop in motor vehicle sales and another huge increase in sales at gasoline stations. Excluding gasoline sales, retail sales fell 0.5 percent in June and are now down 1.6 percent

Federal Reserve Chairman Bernanke testified before the Senate today and said there is a "critical" need to keep inflation expectations in check. He added the U.S. economy is expanding a bit faster than expected and should avoid a technical recession.

The US dollar weakened vs. major currencies as concerns of the US financial sector continued to weigh on investor sentiment. The dollar slump comes two days after a government rescue plan to restore confidence in mortgage giants Fannie Mae and

In a session marked by extreme emotion and volatility, the USD remains broadly weaker against the major pairs as slowing economic outlook and higher inflation concerns sent commodities and currencies on a bumpy ride. The dollar is off its worst

This afternoon Fed Chairman, Bernanke held the first part of his semiannual report to Congress in the Senate. Generally, the testimony was slightly softer than was expected by the market. It included no hints that the Fed is about to

The major currencies whipsawed around in the Tuesday session, with the dollar sharply recovering from all-time lows against the euro to bounce back toward the 1.59-level. Heightened risk aversion benefited the yen pairs as the Japanese currency rallied considerably against

The Bank of Canada met market expectations today, keeping the target for the overnight rate steady at 3.0%. This is the second meeting that the Bank has stayed on the sidelines and the neutral tone of their accompanying communiqué did

The Euro-Dollar pair hit a new record high during European trading, climbing above 1.60, in anticipation of testimony by Fed Chairman Bernanke. Contrary to expectations, he mainly focused on inflation though he acknowledged the downside risks to growth. In NY

Dollar is back under pressure as a busy day starts, falling across the board and making new 25 year low against the Aussie. Markets are clearly concerned with the damage of the credit market losses to the US economy and

AUD/USD surges further to as high as 0.9788 today and remains firm. Note that break of near term trendline resistance reaffirms underlying strength in AUD/USD and the current rise is expected to extend further to 100% projection of 0.9327 to