Forex Trading TV Video Blog

The USD completed yesterday’s trading session with mixed results versus its major rival currencies amid the financial turbulence which is shaking global markets. The greenback saw its opportunity in moments after the bailout rescue plan was finally approved by the US government, as it climbed to a 14 month high vs. the EUR after been traded below 1.3500. Against the JPY the greenback got close to the key psychological level of 100.00 after investors fled government bonds and low yielding currencies fearing that the rescue plan wouldn’t be enough to prevent the economy from seeing outright recession. Yesterday world stocks tumbled to three-year lows in a day know now as Black Monday after stocks became victim to the panic regarding the current world financial crisis and the increasing risk of more banks going bankrupt.. Retail sales have also suffered as most consumers are still skeptical to believe that the rescue plan will produce a rapid effect over the financial markets and the global economy. Until now the approval of the Paulson plan to heal the financial system has not been enough to calm down investors. On tap from the US today there are not many economic indicators to be released. The Federal Reserve Chairman Ben Bernanke will speak about the economic outlook and the future of financial markets; Traders should anticipate high volatility around the time of his speech. Later today at 18:00GMT, the FOMC Meeting Minutes from the Federal Reserve’s September meeting may also be the event to watch. This record of the FOMC’s latest meeting is expected to provide insights into the economic conditions that influenced member’s votes on Interest Rates as well as offering clues to the possible outcome of future votes.

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