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Forex

Discussion in 'Forex Discussions' started by honeyks, Jul 28, 2010.

  1. honeyks

    honeyks New Member

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    by http://is.gd/dITEx

    An increase in the Australian Conference Board leading index from 0.1% to 0.3% during the month of May added some underlying support to the Aussie dollar in Asia yesterday as it held firm above the 90 cent handle etching out gains to enter offshore exchange at 0.9025. The AUD/USD moved above 0.9050 overnight before sellers stepped in to take profit on the move ahead of today's critical Australian second quarter Consumer Price Index report. Although headline inflation is expected to come in well above the 3% mark the market will closely scrutinise the RBA's preferred measures, the trimmed and weighted means which strip the result of the more volatile components and concentrate on core inflation. Analysts are expecting an increase in inflation and as a consequence have been pricing in a rate rise next week when the central bank meets which does leave the Aussie dollar open to some downside below this morning's open at 0.9010 should the result come in below forecasts for an annual rate of 3.4% (headline) or 3% (trimmed mean).
     
  2. wringle

    wringle New Member

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    Many traders think the way to make money in currencies is to predict where prices might go but prediction is really a guess as no one knows what millions and millions of traders will do in advance and this method of trying to pick a low in advance is doomed to failure.
     
    #2 wringle, Oct 21, 2010
    Last edited by a moderator: Nov 12, 2010
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