International Forex Inforamtion

Dollar is back under pressure again as stocks and commodities rebound. Following the 172pts rebound in DOW, Nikkei opened higher today and is back to 9877, up 81 pts. Crude oil is back above 71 level after diving to as low as 61.37 earlier this week while Gold is also back above 944 level. Nevertheless, note that the outlook in greenback is still rather unclear. The developments in GBP/USD and AUD/USD are supporting new high in these pairs, i.e. new low in dollar. However, USD/CHF is still in favor to extend recent rebound from 1.0590. While some pull back might be seen in USD/CAD, the whole rise from 1.0784 is still in healthy shape. The outlook in EUR/USD is also mixed with somewhat 50/50 chance of breakout of this week's range on either side. Markets are still in search for direction.