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USD keeps on

On Tuesday, just according to the Forex predictions, USD continued its recovery against its main rivals. Both GBP and Euro were under the pressure of negative trading news from Europe and positive news from the USA. The head of US FRS Mr. Bernanke said that the interest rate isn’t likely to be increased before the second half of 2010. At the same time the negative information on production in Euro-zone and Great Britain was to push the Forex rivals of USD down. The continuing decrease of production in Europe shows, that the recovery of European economics will take quite a period of time an won’t be an easy thing.

Due to that EUR/USD was just falling down during all Forex trading day and even managed to reach the minimum of 1.4680, but finally rose up a little bit and finished the day at the level of 1.4703. GBP/USD also went down without any attempts to rise and finished the trading day just at 1.6267.

On Wednesday, December 09, 2009, some trading Forex investors can start buying high-yield currencies, but that isn’t likely to save the British pound and Euro from losing positions to USD. The main news to be taken into consideration is, of course, the release of trade balance in Great Britain and data on USA wholesale inventories. At this rate EUR/USD will be moving around 1.4700 and even may rise a little bit and GBP/USD might fall Forex down to about 1.6150 and then make some slight recovery – return to 1.6250.

by Jonathan Halprid
December 9, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
 
 
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