The Advisor Weblog

Posted: 01 Dec 2009 05:45 AM PST

With current sentiment, seems Euro is ready to ride higher, still waiting for U.S. data confirmation, and Wall Street opening. Here is the link to the report:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2009-12-01.html

Another risk appetite spike

Posted: 01 Dec 2009 05:03 AM PST

Market keeps being drive by sentiment, and December started with more dollar loses across the board: gold has rose to the $ 1200/oz area, while stocks jumped higher since Asian opening, with European ones quite positive, as well as U.S. futures. Final reaction will likely come from U.S. ISM and housing report in a couple of hours.

Something quite interesting, last Asian session Japan government call for a BOJ extraordinary meeting; they finally decided to extend QE increasing liquidity by Y10 trillion in what was being seen largely as a political gesture rather than any serious shift in policy, to avoid further Japanese yen appreciation. USD/JPY jumped to 87.50, (61.8% retracement of last week fall) yet was unable to hold the 87.00 level and fell back.

Here is the link for today's calendar:

http://www.fxstreet.com/fundamental/economic-calendar/

Have a great day!