US Dollar Index erases gains

USD/JPY: 77.73.. EUR/USD: 1.3023

Dollar Index erases up gains:The Dollar Index has given up virtually all of its gain and now is just above the flat line at 79.85.

The flat trade comes ahead of tomorrow’s FOMC interest rate decision and US Fed Chairman Bernanke’s press conference that may lay more groundwork for a 3rd round of easing by the Fed.

Economic wizards from around the World gather in Davos, Switzerland as the World Economic Forum gets underway.

Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
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Posted by Shayne Heffernan on Jan 24th, 2012and filed underForeign Exchange, Foreign Exchange, Forex, Latest News.You can follow any responses to this entry through theRSS 2.0Responses are currently closed, but you can trackback from your own site.