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The fall down of USD rivals

On Monday – the first day of the trading Forex week, all the market was influenced by the news from the United Arab Emirates. The authorities of Abu-dabi decided to provide help for the sum of $10 billion to the Dubai World fund, which calmed down the Forex investors and other market participants and made some of them buy high-yield currencies.

Due to that a small Forex roll down of USD could be observed yesterday. For example, EUR/USD was to rise up and the most part of the day was trading around 1.4650, but managed to reach the day’s maximum of 1.4684. GBP/USD was going up faster and even got to the maximum point of the trading day on the market Forex, which was 1.6324. After a bit of correction and another rise, the day was finished at 1.6299.

On Tuesday, December 15, 2009, the Forex market participants all over the world will be expecting the news on consumer & retail price indices from the United Kingdom of Great Britain and Northern Ireland, the German data from ZEW survey on economic sentiment, and finally the Empire Manufacturing index and data on industrial production in the United States.

Due to that the fall down of the main market Forex rivals of USD is likely to continue. EUR/USD might fall down to the point of about 1.4550. At the same time GBP/USD may continue going down to the level of 1.6150.

by Jonathan Halprid
December 15, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
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