Daily Forex Commentary for October 21, 2009

October 21, 2009

Sentiment Shift Helps Dollar Rally

The Dollar opened lower this morning, driven to a 14-month low by demand for higher risk assets. Traders were buying equities and commodities while selling the Dollar on expectations of a strengthening global economy. Sentiment shifted however after the release of weaker than expected U.S. housing and Producer Prices. Both reports caught traders by surprise as many thought bullish earnings news from Apple, Inc. would set a bullish tone for the day. Instead, traders opted to let these two bearish reports set the tone for …
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