Currency Pairs Overview: Looking Ahead to the ECB

By FXstreet:Mario Draghi took the scene after the ECB monetary policy meeting saying that the template is not a template, that country A is not the Country B, the eurozone's recovery will start its engines in the second half of 2013 if the risk is no longer a risk and that banking system is safe in the eurozone. Then markets considered that the single currency was too cheap compared to the Greenback or the Japanese yen and it was the fiesta.

By FXstreet:The euro advanced versus the dollar on Monday to reach its highest in 11 months during the Asian session, but lost momentum and weighed by disappointing eurozone data it pulled away from highs. However, with the downside pretty much restrained, the shared currency entered in a consolidation phase.

The LFB submits:The last trading week of July is holding global risk markets in tight ranges, has sold commodities to near-term support, and yet still has the dollar index on the run lower. There is complete separation in regard to major currency pair movement, with an every-man-for-themselves mentality that has extreme reactions to macro-economic releases. The market has to absorb a speech from Bank of England Governor King, and U.S. Durable Goods Orders on Wednesday.

After two consecutive down days in the market, it was time to get real, and like clockwork the dollar and yen devastation started right out of the gate in overnight trading, when first the USDJPY exploded higher, followed promptly by the EURUSD, both of which hit new period highs, of over 92, and just why of 1.37 respectively. And with not one funding currency around to push risk higher, but two, futures have ramped enough to undo all of yesterday's losses and then some.

Marc Chandler submits:The US dollar remains under pressure today as low US interest rates, speculation that the Fed may be edging toward renewed asset purchases and generally poor sentiment, continue to take a toll.There are exceptions, notably within the dollar-bloc, where consolidation is more the rule. Softer than expected retail sales and building permits data and a neutral RBA statement that largely repeat last month’s message has slowed the Australian dollar’s advance.

By Selerity Research: By Brendan Gilmartin Overview

Bloomberg reports Euro Drops in Longest Losing Streak Since 2010 on Debt Turmoil The euro fell for a fifth week versus the dollar in its longest losing streak in almost two years on concern Europe’s debt crisis is worsening and as data showed the U.S. labor market is strengthening.

optionMONSTER submits: By Bryan McCormick US stock index futures have traded on either side of flat this morning after yesterday's large range day. Most Asian markets were positive overnight, fueled by hopes that other central banks would follow the Bank of Japan's easing policy.Complete Story »