Skip to main content

Daily Futures Commentary May 11, 2010

May 11, 2010 Risk Fears Driving Commodity-Linked Currencies Lower The U.S. Dollar is trading higher overnight against most major Forex markets, buoyed by two major events: the inability of the European Union’s rescue package to instill investor confidence in the Euro and the news of the resignation of U.K. Prime Minister Gordon Brown. Both events are driving traders out of risky investments, triggering an increase in demand for lower risk currencies. Today, traders should watch for a reversal of the action on Monday. In other words, risk adverse traders are expected to sell higher risk assets while seeking shelter in the lower yielding currencies. Look for downside pressure on the commodity-linked currencies. Overnight, traders are driving the June Australian Dollar, June Canadian Dollar and June New Zealand
Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.