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As U.S. GDP Improves, Investors Shift Interest Back to Higher Yielding Assets

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Oct 29, 2009.

  1. forextrends24

    forextrends24 New Member

    Mar 27, 2009
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    Today’s sample of Forex Analysis from ForexHound.com

    U.S. GDP improved to 3.5%. This figure marked the first gain in over a year and was better than pre-report guesses of 3.2%. Trader appetite for risk soared after the report was released.

    The EUR USD is in an uptrend and rallying strong today. Expectations are for a test of 1.4873 to 1.4918 before new sellers surface. This currency pair is also in a position to post a bearish closing reversal.

    The GBP USD showed the most strength for the second day in a row. This surprised traders who felt more downside was likely following last week’s release of a bearish U.K. GDP number. Many traders had been looking for lower markets in anticipation of increased quantitative easing by the Bank of England. The strong rally today took out a minor retracement zone and now has this market in a position to test the recent top at 1.6691.

    Read full article at ForexHound.com as well as Forex Analysis, Forex Education and exclusive timely market Gann Analysis

    Disclaimer: Trading foreign exchange on the margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that you cannot afford to lose.

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