Published at 10:30 (GMT) 03 Feb 10:30 GMT – USD/MXN still looks to have one more shot down to the 12.765/748 zone over the next 3 hours. Once that zone is thoroughly probed, we still think that the daily oscillators such as RSI and Stochastics are extremely o/s enough to warrant a solid reversal from
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The currency correction since early 2012 looks like it could be stalling out and Wednesday’s price action could shed further light on the matter…

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Traders, we just published new video in which we covered and analyzed all of the trade set-ups that…

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Figures showing better than expected manufacturing activity for much of the eurozone in January help add to single currency’s gains
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Gold, silver and copper prices are looking to the ISM gauge of US manufacturing activity for direction. Crude oil has decoupled amid uncertainty about Iran.

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Positive developments coming out of the euro-area propped up market sentiment on Wednesday, but the rise in risk-taking behavior may be short-lived as the heightening risk for contagion continues to dampen the outlook for the world economy.

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Risk assets are firmer on better than expected manufacturing data from China, Germany, the UK and US, but concerns about America resurface
Financial Times – Currency Markets News and Data

DailyFX – Gold Daily Forecast

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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WEEKLY OUTLOOK FOR AUDUSD DAILY STRUCTURE 24th January : From the Dollar’s performance in general…

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Franc reaches its strongest level against the euro in almost five months, putting it near the level at which the SNB has previously taken action
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Chart of the week NYMEX WTI Crude Oil FUNDAMENTALS U.S. crude futures fell this week, dropping to a six-week low as Wednesday’s data showing rising crude oil and gasoline stockpiles and weak demand continued to generate bearish sentiment. U.S. crude stockpiles have risen sharply for two consecutive weeks, according to government data, and the latest
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The US Dollar has dropped in 10 out of the past 13 sessions. By anyone’s standard that is a clear bear trend. Yet, we are still finding a lack of conviction in risk appetite trends.

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FXstreet.com (Florida) – After falling around 100 pips from intra-day high at 1.0040, the Dollar…

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As sentiment toward the renminbi sours and the political outlook is more uncertain, Henny Sender predicts more money will leave the mainland
Financial Times – Currency Markets News and Data

Crude Brent crude posted small gains on Thursday and closed just shy above 112 USD per barrel (USD/bbl). Regarding the EIA’s weekly petroleum status report released back on Wednesday, it confirmed a relatively low implied demand for oil products in the U.S. in January (see the chart). The main contributor was a lower than usual
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While we continue to classify the gains in currencies against the US Dollar as corrective, there is still a room for a little more upside in these markets before the US Dollar returns…

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The world’s largest economy is expected to add another 145K jobs in January, and the ongoing improvement in the labor market may prop up the U.S. dollar as it dampens speculation for additional monetary support.
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Thomas Jordan, acting head of Swiss National Bank and thrust into the limelight after his boss’s swift departure, promises to continue radical policies
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DailyFX – Gold Daily Forecast

The US Dollar has started the week sharply lower as global stock markets rally, setting the stage for further EURUSD and AUDUSD strength into the following week of trading.
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The US Dollar finds itself torn between lingering Eurozone debt crisis fears and the possibility of additional QE3 clues as Ben Bernanke testifies in Congress.

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USDCHF had formed a cycle top at 0.9594 on daily chart, and is now in downtrend. Further fall would…

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