Adam Horak's Blog – February 2011 Archive (2)

AUD/USD: Demand is noted at 1.0020.  1.0018 was today's Asian session low.

USD/CAD: Bids are tipped near 0.9835 with sell stops touted below 0.9830 (0.9832 was the Feb 4, 33-month low).

GBP/USD: Buy Stops are tipped above 1.6120/25

EUR/JPY: Bracketed On 113-Handle

EUR/JPY offers remain ahead of 114.00. Stops above. Bids from around 113.00. Some stops mixed in sub-112.90.

USD/JPY: Bids Firm From 83.50-Area, Offers Pre-84.00.  The word is that some $2 yards or so of offers… Continue

Over night the Green back hit its lowest levels of the year and on to a three month low against most major currencies. As the start of the US session gives way to a better then expected ADP report coming in just ahead of expectations a little life was breathed into the dollar as traders looked for risk aversion into the start of the trading day on a little profit taking for the day.

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