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The BOJ in its emergency meeting announced an expansion of its loan program – a bit of monetary easing. However, the moves were less than expected by the market and traders bought the Yen after having sold it off late last week and to start Sunday’s trading. Currencies sensitive to risk sentiment and global growth faltered, with the US Dollar and Swiss Franc gaining. US stocks slid increasing risk aversion in the NY session. News Provided by CMS Forex www.cmsfx.com Market Analyst Nick Nasad

The US Dollar slid against its major rivals as higher global equities helped to dampen demand for safe-haven currencies like the US Dollar and Japanese Yen. The weakness in the Dollar overnight was also due to the weak data that has come out this week, which has led to increased speculation that Fed Chairman Bernanke may suggest further quantitative easing during his speech on Friday at the Jackson Hole Symposium. News Provided by CMS Forex www.cmsfx.com Market Analyst Nick Nasad

Bernanke outlined what he thinks the central bank will have to do if the economy continues to weaken further. Steps include more quantitative easing or lowering the rate paid to banks to hold reserves with the Fed. Still, he tried to focus on the sustainability of the recovery, and tried to calm fears over deflation. The result was a rally in stock and risk appetite which helped to power higher yielders higher (like the Euro, Aussie) vs. safe-have assets (Yen and Dollar). News Provided by CMS Forex www.cmsfx.com Market Analyst Nick Nasad

Trading wasn’t as volatile as it was yesterday, with Yen pairs consolidating, while overall higher yielding currencies like the Canadian and Australian Dollars weaker. The Swiss Franc gained on the US Dollar and Euro. US data for durable goods orders and new home sales was weaker thane expected, meaning risk aversion should be the theme of the day during NY trading. News Provided by CMS Forex www.cmsfx.com Market Analyst Nick Nasad

The Pound rallied as no BOE meeting minutes showed no members voting for an increase in quantitative easing. Other major pairs consolidated as there was a lack of news to trade on. The Canadian Dollar did gain on some merger news, while the Aussie slid. News Provided by CMS Forex www.cmsfx.com Market Analyst Nick Nasad

The Dollar fell sharply against the Yen and Swiss Franc on weak data from Japan and the US which pressured US yields and made the Dollar less desirable. The Euro was weaker vs. the Swiss Franc as worries emerge over Ireland’s upcoming debt auction and what that could mean for sovereign debt fears. However, the Euro did gain on the Dollar, likely as part of a correction to the sharp gains in favor of the greenback last week. News Provided by CMS Forex www.cmsfx.com Market Analyst Nick Nasad

Risk appetite rose in today’s trading, helping higher yielders to gain on the USD and other safe-haven currencies as a closely watched Ireland government debt auction was successful, and US industrial production showed a strong 1% rise in July. That helped equities and commodities to rally, boosting the Canadian and Australian Dollars. News Provided by CMS Forex www.cmsfx.com Market Analyst Nick Nasad

Forex Technical Update 6/1/2010: forex trading, EUR/USD, GBP/USD, EUR/JPY, XAU/USD, Gold, technical analysis Fan Yang CTA www.fxtimes.com There was a broad slide in the US dollar to start the week. However the Euro bore even more pressure as the EUR/USD pair hammers at its 1.2150 support. The GBP/USD pair is in consolidation but looks much stronger than the EUR/USD. The EUR/JPY made a convincing rally attempt today, but it is within a side-ways consolidation with bearish bias. Finally Gold continues to rally towards the record high near 1250 as anticipated.

FXTimes Forex Technical Update 5/28/2010: forex trading, GBP/JPY, EUR/JPY, AUD/JPY, CAD/JPY, CHF/JPY Fan Yang CTA www.fxtimes.com

The Dollar was a main recipient of safe-haven flows as we had further contagion fears in the Euro-zone as Moody’s placed Portugal under review for a downgrade. The EUR/USD hit a 14-month low, and with oil and gold falling commodity currencies weakened as well. US equities managed to cut early losses and by noon NY-time we saw a small counter-rally to the overnight risk aversion. News Provided by FXTimes/CMS Forex www.fxtimes.com http Analyst: Nick Nasad Open up a free practice account and start trading Forex today.