SubscribeDaily Futures Commentary September 29, 2009
Tuesday, September 29, 2009
The U.S. Dollar is picking up strength this morning against most majors. It looks like traders are picking up the trend that developed late last week. Yesterday the Dollar was mixed. Gains were posted against the European majors while the Dollar weakened versus the Asian-Pacific currencies. M&A activity helped provide the fuel to power a gain in equities, but the lack of fresh economic news kept the Dollar in a tight range throughout the day.
This morning traders will react to the Case-Shiller Housing Price Index and Consumer Confidence. Investors want to see if the housing market continues to show improvement. A better than expected report may hurt the Dollar if trader appetite for risk increases on good news. The most important report will be the Consumer Confidence number. Investors want to see that the public is buying into the recovery. Although confidence may be up because of the stock market rally, consumers have not turned this confidence into actual spending. Nonetheless, the market wants to see consumer confidence continue to climb.
The December Euro is feeling pressure this morning. This is a follow-through break following last week’s …
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