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Forex Technical & Fundamental Analysis Recap

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Jul 7, 2009.

  1. forextrends24

    forextrends24 New Member

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    Today’s sample of Forex Analysis from ForexHound.com

    The USD JPY traded sharply lower for a couple of reasons. The first and main reason is flight-to-safety. The second reason is the call for nations to diversify away from the U.S. Dollar.

    Global equity and commodity markets were down sharply on Monday as traders liquidated their positions in higher-priced, higher-yielding assets. The current weakness in the equity markets was triggered by a larger than expected U.S. job loss in June. This news was reported on July 2nd but many traders took the day off ahead of the U.S. market holiday on Friday. The weakness overnight triggered a lower opening in the European and Asian markets as traders who missed the move on Thursday picked up the selling where it left off on Thursday.

    The USD JPY broke sharply lower from the start in Asia as traders sought the safety of lower yielding assets. This break was a continuation of the move from the top which started in early June when the equity markets topped and Thursday’s flight-to-safety rally in the Yen following the release of the bearish U.S. unemployment number.


    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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