27 November 2007 - 19:13The Dollar attempts to rebound

U.S. Dollar buying is occuring here, if only becuase of bargin hunting and profit taking.  The housing price figure came out a little bit better than expected but not enough to give a real boost to the greenback.  FX traders will be eyeing the KOF from Switzerland early and also the durable goods and existing home sales data loom large.  Those figures should be the catalyst for the next significant movement, which I for one expect to be negative for the dollar.  The KOF should come out strong once again as the Swiss economy is doing great.  Also Japanese commerical sales figures just released showed growth in overale retail sales which was unexpected.  This is another reason for Forex traders to buy Yen, the timing is convienent considering that the yen has just backed of a bit, great time for fresh shorts here.