- Making Profits With The Forex Swing Trading Strategy
- Explain Yourself The Best Method To Trade Forex
- Trading Forex With Day Trading Strategy
- Trading Forex And Making Money from Home
- Knowing How To Use The Indicators While Trading Forex
- An Overview Of Forex Scalping
- Knowing the Difference of Self Made Account or Managed Forex Account
- Need to Get the Best Brokers to Trade Forex
- Forex Arbitrage – Make Some Different Way to Create Profit
- Using Indicators and Software to Trade Forex
Posts Tagged ‘foreign market’
US on a Slump vs. Currency Majors
The US dollar went down against the major currencies in the forex trading market. This movement is triggered by the decision of Fed Reserve policymakers to buy Treasury securities. In an effort to add stimulus, they also plan on enhancing inflation expectations. These plans would affect the dollar in a negative way as these changes are expected to lead to the stock markets erasing some losses. Both Dow Jones and NASDAQ went up by 0.09% and 0.65% respectively. Closing at $1,346.70 per ounce, the price of gold declined by 0.6%. Crude oil also went down by 0.7% and ended up at $81.67 per barrel.
The euro was able to recover from its loss and gained against the dollar, followed by the weakening of the dollar as a result of the recent Fed Reserve meeting. The EUR/USD pair is still in a bullish momentum. In the end, the EUR/USD traded at a low of 1.3775 and a high of 1.3939. On the other hand, the British pound pushed through with its losses versus the dollar for 5 days. The weaker British pound is affected by the Bank of England’s declarations about the poor economic forecast. In the end, the GBP/USD traded between 1.5753 and 1.5917.
Pound Slips to a Six-week Low
The British pound reached a six-week low against the dollar on the September 8 forex trading day. The dollar was backed by risk aversion as investors were worried about investing in currencies experiencing slow recovery. The pound is one such currency, falling into a bearish trend that may continue for days to come, because of the concern that the UK may take longer than expected to bounce back. The GBP/USD pair traded at a high of 1.5424 and a low of 1.5296.
The euro also weakened against the dollar because of the weak economic data in the Euro Zone. Investor worries prevail that the debt crisis in the Euro Zone may worsen. The EUR/USD pair traded at a high of 1.2819 and a low of 1.2677.
In the US, both the stocks and commodities markets fell. Crude oil closed at $73.8 per barrel and gold closed at $1,256.8 per ounce. The dollar posted gains against most majors.
Dollar Goes up vs. Most Forex Majors
Due to the response to the FOMC Meeting Minutes, the USD was able to go up against most forex trading majors. During the FOMC meeting, the members shared
different opinions regarding the reinvestment of FED’s profits back into treasuries. In the meeting, the members expressed that doing so might send a bad message to the investors. The CB Consumer Confidence was at 53.5, which was better than the anticipated 50. As for the Chicago PMI, it came out at 56.7, which was worse than the anticipated 57.5.
The stock market posted mixed results; NASDAQ went down by -0.28%, while Dow Jones went up by 0.05%. Crude oil traded at $71.80 per barrel, going down by more than -3%. Gold traded at almost $1,250 per ounce. The ISM Manufacturing Index is anticipated to go down from prior 55.5 to 53. The ADP Nonfarm Employment Change is anticipated to go down from 42k to 13k. As for the other majors, the GBP/USD pair exchanged at a high of 1.5472 and a low of 1.5325. The EUR/USD pair exchanged at a high of 1.2742 and a low of 1.2625.
Recent Comments