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Late Demand for Risk Pressures Dollar into Close

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

  1. forextrends24

    forextrends24 New Member

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    Today’s sample of Forex Analysis from ForexHound.com

    What started out to be a sideways day ended with the U.S. Dollar taking another hit as investors renewed their quest for risk late in the trading session and into the close.

    Even before the U.S. Forex trading session started there were signs that today would be an unusual day as stories were circulating that CIT Group would file bankruptcy following the news that the U.S. government would not provide assistance to them. This triggered an almost immediate flight-to-safety rally as traders flocked to the U.S. Dollar and Japanese Yen for safe-haven protection.

    Later in the morning session but prior to the New York opening JP Morgan Chase announced better than expected earnings. This news froze the markets as it created a desire for risky investments but traders were still worried about the CIT news.

    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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