Waiting On Danes
Marc Dupee will be on vacation until October 20th.
Until he returns this column will be written by TradersWire’s Duke Heberlein.
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Despite a continued pullback in the December dollar index futures
(
DXZ0 |
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PowerRating),
the battered Euro FX
(
ECZ0 |
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PowerRating) does not appear to be regaining any strength
despite the efforts of the G-7 nations to provide it with some support. While
currently the Euro is trading flat following Wednesday morning’s slight rise,
all eyes are most likely looking towards Thursday’s vote by Denmark on whether
it will accept or reject the currency. A negative for the Euro could start
another waterfall and more scrambling by the G-7.
The December Canadian dollar
(
CDZ0 |
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PowerRating), off
the 6/100
Low Volatility List, fell out of a classic pullback from low, dropping .0038
down to .6699
The December dollar index futures
(
DXZ0 |
Quote |
Chart |
News |
PowerRating) off the Pullback
From Highs List while continuing to slide, still appears to be potentially
able to make another push higher, particularly if the Danes do choose to reject
the Euro FX. It could be worth continuing to monitor, since news reports are
stating a 3-2 majority of Danish citizens are in favor of nixing the currency.
From the Momentum-5
List, October lean hogs
(
LHV0 |
Quote |
Chart |
News |
PowerRating)Â made the biggest move, jumping out
of a one-day pullback and gaining .400 to 57.500. It appears the contract could
be headed for a re-test of the July highs.
