Are Dollar Days Here Again (USDX, UUP, UDN)
By David A. Moore
February 05, 2010 8:22 AM
February 05, 2010 8:22 AM
Symbols: USD
Another Non Farm Payroll report is due in just 20 minutes. One thing many agree on is the news probably will not be good, unless of course your long the U.S Dollar (USD). Bad news has been a boon to the USD. Over the course of the last several FX sessions we have seen the USD rally sharply against the Majors with the exception being the Japanese Yen(JY). As fears in various E.U. countries begins to take root, the only logical safe haven for many market participants is the USD. We see the USD/CAD heading to 111.00 area, the AUD/USD testing the .8400 level and the widely traded EURO/USD falling to the 132.00 area in the next four to six weeks.
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