As the first week of October kicked off last week, traders witnessed a number of volatile jumps in the worlds 2 primary currencies: the EUR and USD. Optimism appeared to be on the rise in America while Europe was giving off signals of a lagging economy. The USD had pared a moderate percentage of its previous losses until employment data in the US hampered those gains and sent the EUR flying high. As a result, every other currency in the forex market was impacted in a similar way since these currencies have the ability to influence world prices.... ( read more )
Archive for October, 2009
October 5, 2009 - Daily Forex Tips – October 5th 2009
U.S Non-Manufacturing Index On Tap
As the echoes of the unexpected drop in the U.S Non-Farm Employment Change are still with us, a new trading week enters. [caption id="attachment_1818" align="alignright" width="128" caption="Daily Forex Tips"][/caption]The disappointing data has led to drop in value of the Dollar against the major currencies, and the main question now is whether the Dollar will correct its losses from Friday or whether the downtrend will continue throughout this week as well. The results of the following publications are li... ( read more )