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Little rise of USD

On Tuesday USD was to suppress EUR and GBP, but then the rivals of bucks recovered a bit and even finished the trading day almost at the positions of the day’s beginning. For example GBP/USD fell down to 1.6600, but by the end of the day was trading at about 1.6730. That was connected with the comments of the Fitch agency, which told that Britain can lose its AAA rating and not very positive news on British Total Trade Balance. EUR/USD was also to go down at first, but the trading day was finished at 1.4980. The reason for that was negative dynamics showed by data on ZEW Survey (51.1 instead of 55 predicted).

On Wednesday, November 11, 2009, the rivals of the USD are likely to fall down a bit under the pressure of the American currency. US FRS shouldn’t change the interest rates in order to support the development of economical activity in the country. But that might not influence the trading behaviour of investors, prices and situation on the market very much.

In the USA the stock exchanges will be closed in connection with Veterans Day. So, the activity in currency trading isn’t expected to be big, because the stocks influence the American currency’s USD price great at the moment. Due to that EUR/USD is likely to fall down to at least 1.4900, GBP may go to the point of 1.6650 and USD/CHF might continue going to the level of 1.0000.

by Jonathan Halprid
November 11, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
November 10, 2009 USD correction
November 9, 2009 A calm week.
November 4, 2009 EUR/USD comes back
November 3, 2009 Trading with little news
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