After a historic rally in equity markets saw 5 straight positive days and a 12% rally in the S&P 500, traders returned from their Thanksgiving holiday to be greeted by a return to the long-term form and triple digit losses. With the S&P down 45 points, the DJIA hovering around 400 points down in early US session trading, and the FTSE off 250 points in the UK, Forex markets returned to the “flight to safety” trade with vigor, seeing the USD and JPY gain strength across the board.

With a slew of interest rate statements on tap for the rest of the week, currency investors are again especially risk averse commodities, the carry, and the Sterling. GBPJPY has seen a 700+ pip drop off since yesterday’s opening in Asia. We will look to again sell rallies as the long-term trend should continue over the rest of the week as investors simply look toward an ever-deepening recession and less and less expectations for potential of growth in 2009.
_________________________
John Rowa
Executive Director of Trading
+1 951 823 0686 - Tel
+1 951 823 0687 - Fax
JRowa@IntegrityFX.com
www.IntegrityFX.com

There are sell rallies expected today, we'll see if they play out.

__________________
FX AutoMoney

FX Brotherhood

Make Money in 10 Minutes!

Earn $2,000+ per week!

Start Today