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Important Forex news on Thursday

On Wednesday the American currency managed to bring EUR down for about 70 pips, but the British pound wasn’t influenced that tendency. That was mainly the result of the news releases from the USA, which made the market participants to buy USD very actively and at the same time get rid of European and the British currencies.

The new home sales in the USA reduced very much. That fact made the investors convert big part of their funds into USD. At the same time according to the predictions the US FRS interest rate remained just at the same trading level and the FRS heads’ speeches were quite positive, which had a good impact on the American currency. Due to that EUR/USD broke through the important psychological level of 1.4000 and even went lower.

GBP/USD was rising at first, because the claims of Bank of England representative on the topic of the British economics were quite positive. But during the American session GBP/USD was brought almost to the open point. But by the end of the trading day GBP managed to suppress USD a little bit and the trading day was finished at about 1.6176.

On Thursday, January 28, 2010 the situation on the Forex market is likely to remain quite intensive. The trading may appear to be pretty unpredictable, because the majority of market participants will be waiting for the news releases from Germany (unemployment rate) and the USA (durable goods orders and initial jobless claims). At this rate it can be admitted, that EUR/USD might continue going down to the point of about 1.3950. GBP/USD is likely to go up a little bit and to be trading about 1.6200.

by Jonathan Halprid
January 28, 2010
See Forex Analysis and Forex Forecasts for the previous days there:
January 26, 2010 Tuesday on Forex market
January 25, 2010 Another active week

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