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Dollar Traders Betting on Hawkish Comment from Fed

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Dec 16, 2009.

  1. forextrends24

    forextrends24 New Member

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    Today’s sample of Forex Analysis from ForexHound.com


    The U.S. Dollar traded higher all day as speculators increased bets that the Fed would issue a more hawkish monetary policy statement tomorrow. Last night the main trend turned up on the weekly chart leading to a firm opening this morning.

    The EUR USD stopped just short of piercing 1.4500. Overnight, sellers hit the Euro hard following the release of the German ZEW Economic Expectation Index report. Better than expected U.S. economic data and concerns over Euro Zone bank exposure to Greece, Portugal and Spain debt helped accelerate the decline.

    The GBP USD was under pressure all day but remained inside of a retracement zone at 1.6292 to 1.6154. Overnight news that U.K. November CPI increased to 1.9% was largely ignored by traders since the pre-report guess was for an increase of 1.8%. This currency is not likely to move until it breaks out of its short-term trading range.

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

    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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