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Dollar Loses Ground Ahead of U.S. GDP Report

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Sep 30, 2010.

  1. forextrends24

    forextrends24 New Member

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

    Today, many of the major players were absent ahead of Thursday’s U.S. GDP report. This report should be a market mover. The preliminary guess is for a growth rate of 1.6%.

    A number lower than this figure is likely to crush the Dollar. A better than expected number should trigger a rally in the Dollar against most of the major especially the Euro. Many traders who have priced in a weak number will be forced to pare their long positions.

    The U.S. Dollar was under pressure all day on Wednesday as the Federal Reserve considers additional monetary policy easing amidst growing concerns that the economic recovery is poised to derail.

    Read full article at ForexHound.com as well more Forex Trading articles including Forex Technical Analysis and Forex Education

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