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Forex signals: USD rising up

The trading day on Monday began with the fall of USD against JPY, which was caused by the speech of Finance Minister of Japan Hirohisa Fujii. He told, that Japanese government will do all to continue the growth of JPY. As the result, USD/JPY fell down to the 8-month’s minimum level of 88.22. That made almost the Forex signals providers and traders buy Yen very actively.

At the same time GBP was pushed to 1.5814 by USD, which showed the weak positions of British currency. But then after crumbling of Asian markets the situation became awful for the European currencies. The Nikkei indices opened at 00:00 GMT with the gap os 200 points down, which made all traders and Forex signals providers move their funds into USD and JPY. As the result, EUR/USD fell down to the level of 1.4563, GBP/USD rolled to 1.5769 and USD/CHF rised to 1.0373.

By the end of the trading day European currencies made a bit of recovery, but the speech of the Head of ECB, in which he told that European Union needed to have stong US Dollar, had very negative influence on the EUR, GBP and CHF. That was another sign for all traders and Forex signals providers to sell that currencies.

On Tuesday all Forex signals providers are to pay great attention to the following news: the data on GDP, M4 Money Supply and changes of Current Account in Great Britain, the news on Consumer Confidence in the USA and API U.S. Crude Oil Inventories.

Europen currencies are expected to recover a little bit. EUR/USD is supposed to be moving between 1.4570 and 1.4680, GBP/USD – 1.5800-1.6000, USD/CHF – 1.0280-1.0370 and USD/JPY seem to reach the point of 89.00.

by Jonathan Halprid
September 29, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
September 25, 2009 Forex signals - GBP crushed down
September 24, 2009 USD - falling down
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