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Friday, April 27, 2012

By David Rodriguez, Quantitative Strategist ; John Kicklighter, Sr. Currency Strategist ; Ilya Spivak, Currency Strategist ; Michael Boutros, Currency Strategist ; David Song, Currency Analyst  and  Christopher Vecchio, Currency Analyst

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.Learn forex trading with a free practice account and charts from FXCM.

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Dollar Plunge Accelerates Despite Risk Implications of Weak GDP
Euro Drops Against All but Greenback after Spanish Downgrade, Data Pain
Japanese Yen: Bank of Japan May have Rendered Itself Impotent
Australian Dollar Traders Should Manage Expectations for RBA Decision
Canadian Dollar Standing Out from the Rate Crowd as Rate Hike Seen
Swiss Franc: Monitoring the SNB’s Worries for Signs of…

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British_Pound_Outlook_Bullish_Despite_Poor_GDP_Print_body_Picture_5.png, British Pound Outlook Bullish Despite Poor GDP PrintBritish_Pound_Outlook_Bullish_Despite_Poor_GDP_Print_body_Picture_6.png, British Pound Outlook Bullish Despite Poor GDP Print
Fundamental Forecast for British Pound: Bullish
The British Pound had a modestly strong week, gaining 0.87 percent against the US Dollar, the weakest currency. It trailed the top two performers, the Japanese Yen and Canadian Dollar, by 0.67 percent and 0.34 percent, respectively. The Sterling’s performance could have been stronger, perhaps, if the first quarter growth reading didn’t drag the…

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US_Dollar_Collapses_to_Two_Month_Lows_but_is_This_a_Trend_body_Picture_5.png, US Dollar Collapses to Two Month Lows but is This a Trend?US_Dollar_Collapses_to_Two_Month_Lows_but_is_This_a_Trend_body_Picture_6.png, US Dollar Collapses to Two Month Lows but is This a Trend?
Fundamental Forecast for the US Dollar: Neutral

FOMC raises growth and inflation forecasts, comments slightly more hawkish, yet dollar falls
Tentative breakouts sabotaged by extreme lack of volatility, general lack of participation
US Dollar tumbles – is this a lasting trend or a reversal opportunity in unusual market conditions?

Without doubt, the most remarkable event in the FX market this…

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Euro_Gains_versus_Dollar_Despite_Clear_Euro_Zone_Troubles_Why_body_Picture_5.png, Euro Gains versus Dollar Despite Clear Euro Zone Troubles – Why?Euro_Gains_versus_Dollar_Despite_Clear_Euro_Zone_Troubles_Why_body_Picture_6.png, Euro Gains versus Dollar Despite Clear Euro Zone Troubles – Why?
Fundamental Forecast for the Euro: Bearish
What a week for the Euro and the Euro Zone. The Dutch government collapses, Spanish unemployment surges and Standard & Poor’s downgrades Spanish government debt—yet the Euro trades to fresh monthly peaks! Pronounced weakness in the US Dollar was the real story, but the coming week brings a highly-anticipated European Central Bank rate decision…

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Australian_Dollar_Pares_April_Decline_Outlook_Hinges_on_RBA_body_Picture_5.png, Australian Dollar Pares April Decline - Outlook Hinges on RBAAustralian_Dollar_Pares_April_Decline_Outlook_Hinges_on_RBA_body_Picture_6.png, Australian Dollar Pares April Decline - Outlook Hinges on RBA
Fundamental Forecast for Australian Dollar: Neutral
The Australian dollar is markedly stronger at the close of trade this week with an advance of nearly 0.90% against the greenback. The aussie’ s advance on Friday saw the high yielder briefly break above the April high at 1.0465 with the pair holding just below key Fibonacci resistance at 1.0475. Although our long-term…

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USD_Takes_Nose_Dive_after_Breaking_Key_Support-_Bearish_Tone_Prevails_body_Picture_4.png, USD Takes Nose Dive after Breaking Key Support- Bearish Tone Prevails
USD_Takes_Nose_Dive_after_Breaking_Key_Support-_Bearish_Tone_Prevails_body_Picture_3.png, USD Takes Nose Dive after Breaking Key Support- Bearish Tone Prevails
The greenback plummeted in North American trade today with the Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) off by 0.60% on the session after moving a staggering 163% of its daily average true range. Weaker than expected 1Q GDP data this morning weighed heavily on the reserve currency which now searches for support after breaking below the key 9900 level…

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The financial and banking crisis that began in 2008 has affected all Americans.  We’ve seen investment losses, tighter credit, and reduced purchasing power.  And we’re doomed to repeat history if we don’t learn from it.  So it’s always a good idea to take a look back.  Let’s see how this crisis stacks up among the major financial catastrophes in United…

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When anyone starts lecturing you that the US has the highest tax rate in the industrialized world, just turn around, walk away, and pretend you never heard of them. This person is either ignorant about this country’s taxation system, or is deliberately trying to deceive or mislead you.
According to a report released by the Internal Revenue Service, America’s tax…

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When the CBOE made a push to expand interest in weekly options about two years ago, their efforts were initially met with a fair degree of skepticism. Over time, however, weekly options have found a dedicated following, with the CBOE “weeklys” growing from 1% of total volume to about 15% today. Two years ago there were a handful of index…

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Gold and silver sharply rose yesterday and thus rallied from their decline on Wednesday. Bank of Japan announced it will expand stimulus and will purchase government bonds by 10 trillion yen (roughly $124 billion). This means the asset purchase fund will rise to 40 trillion yen. S&P cuts Spain’s credit rating from A to BBB+. Finally the rating agency had…

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Mike Larson

The evidence everywhere is unequivocal: Despite trillions in printed dollars, euros, pounds, and yen … despite the passage of almost four years since the heart of the credit crisis … despite all the proclamations of government bureaucrats and central bankers, the economy and capital markets remain on the ropes!
Take housing …
I told you last week about the almost-6

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