US dollar strengthens slightly against the euro and the yen as Philadelphia
Fed's January business outlook survey indicated a rebound of manufacturing
activity in the Mid-Atlantic region and December retail sales showed a solid end
to the holiday sales season. Weekly jobless claims also declined from
historically low levels. The WSJ dollar index rises 0.05% to 90.25, stuck in the
middle of it's 52-week range.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
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