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Forex trading on Thanksgiving Day

On Wednesday the news were to influence the trading situation on the market quite much. The data by FOMC, telling that USD falling down is a natural tendency, brought the American currency down. Especially buck was suppressed by Euro – EUR/USD broke through 1.5000 level and even went up to 1.5143 – the 15-month’s maximum.

Of course, the information, that the number of initial jobless claims in the USA reduced, also pushed USD down and allowed Euro to continue Forex growing. At the same time the trading on stock exchanges was quite calm, not showing great changes in indices. So, the investors and Forex traders just went crazy about buying high-profitable and risky currencies, which just killed USD.

But the only Forex rival of the American currency, which didn’t suppress it greatly, was The British pound. The situation in British economy turned out to be as bad as trading perspectives of USD recovery: British GDP reduced for 0.3% in comparison with the previous quarter. Due to that GBP/USD rose only a little bit and reached the point of 1.6744. At the same time USD/JPY fell down and reached 10-month Forex minimum of 87.19.

On Thursday, November 26, 2009, there won’t be any trading in USA and Canada because of Thanksgiving Day celebration. So, there won’t be big news released as well. The main Forex info to be taken into consideration is to come from Europe: Euro-zone M3 money supply and German consumer price index.

According to the Forex analysis and trading predictions it could be said, that EUR/USD is likely to fall to about 1.5020, GBP/USD might go down to 1.6500 and USD/JPY may be trading between 87.00 and 88.20.

by Jonathan Halprid
November 26, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
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