[caption id="attachment_1818" align="alignright" width="128" caption="Daily Forex Tips"][/caption]In Britain, Prelim GDP for the third quarter is expected to rise by 0.1%. Growth in Britain will boost the Pound. The GDP estimate showed that Britain didn’t enjoy growth in the third quarter. In the US, another public appearance by Ben Bernanke is expected to move the markets.
Near the end of the day, Existing Home Sales will complete the housing data, and are expected to jump up to 5.37 billion.
8:30 GMT - GBP - Prelim Gross Domestic Pro... ( read more )
Archive for October, 2009
October 22, 2009 - Daily Forex Tips – October 22nd 2009
[caption id="attachment_1809" align="alignright" width="293" caption="Daily Forex Tips"][/caption]The GBP experienced one of its most bullish trading days in recent weeks on Wednesday. The GBP made significant gains against many of its most traded currency pairs, such as the USD, EUR and JPY.
Another developing trend is the recovery of crude oil. Since the Dollar began dropping against the majors, crude has risen further and further. Currently traded around $81 a barrel, if the Dollar will continue to drop, crude oil could reach $83 a barrel... ( read more )
October 21, 2009 - The EUR Fails to Break the 1.50 Level
[caption id="attachment_2029" align="alignright" width="126" caption="Euro"][/caption]The Dollar strengthened versus the EUR following a decline in stock markets, poor U.S economic data and an unexpectedly dour outlook from the Bank of Canada. Concerns about the strength of U.S. corporate earnings and the strength of the global economic recovery dampened demand for risky assets, halting hit the EUR's attempt to breach the $1.50 mark Tuesday.
The USD recovered from recent pressure that pushed it to a fresh 14-month low versus the euro, advan... ( read more )
October 20, 2009 - Daily Forex Tips – October 20th 2009
[caption id="attachment_1809" align="alignright" width="293" caption="Daily Forex Tips"][/caption]Dollar Slides Whilst Gold Climbs.
The Dollar slid against its major currency pairs no Monday due to a variety of factors. This includes the bullish streaks of both Gold and Crude Oil, which put downward pressure on the Dollar. Additionally, Federal Reserve Chairman Ben Bernanke gave additional clues that he intends to continue the current loose monetary policy, such as keeping low Interest Rates for at least the medium term.
As we saw yesterd... ( read more )
October 19, 2009 - Daily Forex Tips – October 19th 2009
[caption id="attachment_1818" align="alignright" width="128" caption="Daily Forex Tips"][/caption]Will the Dollar Continue to Weaken?
As this trading week is making its first steps, few things are sure. One, it seems that no matter what happens, the Dollar drops. Many explanations are being given to this phenomenon, but the bottom line is that traders who went against the Dollar are making profits for over 6 months now.
Another sure thing is that for the past few weeks, the freefall of the Dollar is boosting commodities to new highs. Many... ( read more )