Market Update
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Focus on Bernankes Humphrey-Hawkins Act Testimony (WED + THU) and the US Trade Balance and Retail Sales.
Dollar Trade Weighted Index about to break key resistance and its 200 day moving average. We still expect a big move higher.
JPY-crosses are struggling to move higher, but look for USDJPY to move towards 123.50-1.2400.
Stocks are weakening a tad ahead of the figures, which could move rates higher.
Oil is taking a beating after being rejected at new six-week highs.
posted by GoldTrade @ 12:45 AM
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