Monday, October 3, 2011

$USD Strength

It's not usually good for the market, and I suspect it's from our two main economic reports this morning at 10 a.m., ISM which was a beat as I posted and Consumer Spending, which was also a beat with prior at -1.3% , Consensus -.02%  and Actual +1.4%.

Here's the FX market showing dollar strength.

 The Euro broke it's range, meaning the dollar is stronger and probably has very little to do with Europe as these other charts show.

 USD/CHF also took off at the same time, this is the Dollar moving up.

 And GBP/USD, this is the GBP moving down and dollar up.

Interestingly, it didn't cause the market to break its range.

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