12 Jan 2015
Dollar dragged lower in US shift - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that it was a quite choppy Monday.
Key Quotes:
"It was a quite choppy Monday. that anyway saw currencies trading within recent rages, exception made by commodity currencies lead by CAD, falling against the greenback to levels not seen since early 2009, not really a surprise as the oil also fell to fresh multi-years lows".
"There were no fundamental releases to act as catalyst among majors, in a day that started with a mild weak dollar, following Friday’s US employment figure. European traders came to save the day, with the greenback sharply up early in the session, as ECB’s QE talks resumed, following headlines pointing to a large majority of ECB’s members is in favor of sovereign bond purchases".
"But with Wall Street opening, the slide in local indexes dragged the American dollar lower against most of its rivals".
Key Quotes:
"It was a quite choppy Monday. that anyway saw currencies trading within recent rages, exception made by commodity currencies lead by CAD, falling against the greenback to levels not seen since early 2009, not really a surprise as the oil also fell to fresh multi-years lows".
"There were no fundamental releases to act as catalyst among majors, in a day that started with a mild weak dollar, following Friday’s US employment figure. European traders came to save the day, with the greenback sharply up early in the session, as ECB’s QE talks resumed, following headlines pointing to a large majority of ECB’s members is in favor of sovereign bond purchases".
"But with Wall Street opening, the slide in local indexes dragged the American dollar lower against most of its rivals".