Christopher Vecchio
January Effect in Play? Commodity Currencies Continue Surge
The new trading month was expected to bring forth a new trend, one in favor of safe havens such as the U.S. Dollar. Instead, it appears the January Effect is in play, with February trading taking a cue and bidding the Australian and New Zealand Dollars higher.
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Kiwi Powers Ahead, Euro Barely Up Amid Swirling Bailout Rumors
Agreement on a fiscal accord for the Euro-zone was announced; though with no Greek debt swap deal in place yet, market participants remain cautiously optimistic. Considering the proposed measures do not address any of the current structural issues plaguing the Euro-zone, this is a rally to be sold.
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Classic Risk-Off Day as Japanese Yen, U.S. Dollar Outpace Higher Yielders
The commodity currencies were among the worst performing majors while the European currencies lagged the safe havens as well, in what has been a soft opening in the second to last trading day of January.
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