After suffering a mild setback following the release of yesterday's Federal Funds Rate policy statement, the USD now seems poised for a come-back. [caption id="attachment_1822" align="alignright" width="128" caption="The Greenback Fell"][/caption]At the opening of the US market today at 12:30 GMT, traders will catch a glimpse of US retail sales and unemployment claims which are both expected to show a continuation of growth in the United States helping the USD regain some of yesterday's losses.
The U.S. Dollar trimmed earlier losses against ... ( read more )
Archive for August, 2009
August 13, 2009 - Daily Forex Tips – August 13th 2009
Following yesterday's Federal Funds Rate announcement, the USD took a small dive against a number of its currency rivals. This in turn pushed commodity prices slightly higher going into today's early morning hours. [caption id="attachment_1809" align="alignright" width="293" caption="Daily Forex Tips"][/caption]With a heavy news day ahead of us, a number of currencies – such as the EUR, USD, and NZD – will experience higher than usual levels of volatility, which may also play into number of price jumps among the commodities. Traders should ... ( read more )
The Feds Kept Interest Rate Unchanged
The US currency edged up sharply against its major counterparts following the release of Fed's rate decision during New York afternoon trading on Wednesday. The Federal Open Market Committee, the policy-making arm of the Federal Reserve, announced that it was maintaining the target range for its benchmark federal funds rate at zero to 0.25 percent.[caption id="attachment_1866" align="alignright" width="200" caption="Feds Left Rates Unchanged"][/caption]
The Fed also repeated its belief that low rates will persist for what it calls "an extend... ( read more )
FOMC Rate Announcement Today, Forex Traders Be ready!
During yesterday's trading, the Yen continued to be the dominant currency in the forex market. Whilst most of the major currencies tended to fluctuate without marking a sustained trend, the JPY strengthened on all fronts, and currently looks to be this week's top investment. During today's trading, the most fascinating data will come at 18:15 GMT, as the Federal Funds Rate for August will be announced. The main question is whether the Fed will hike rates in light of recent positive economic data. Such a turn of events could create mayhem in the... ( read more )