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Trading Forex market news.

On Thursday, at the beginning of the trading Forex day on the market USD was under the pressure of its main rivals because of the investors will to buy high-yield currencies. Due to that EUR/USD was to rise very quickly an even during the Asian Forex session reached the point of 1.5127. GBP at the same time was also suppressing the American currency, but was not so successful as Euro. GBP/USD went up to 1.6720.

But after Trichet’s speech (he admitted that USD recovery is very important for the European economy and said that he supported US FRS policy of “strong dollar”) and announcement of ECB interest rate (remained 1.00%) the situation on the market turned upside down. Both EUR/USD and GBP/USD began to fell down extremely quickly. By the end of the Forex trading day EUR/USD was at 1.5038 and GBP/USD was trading around 1.6554.

On Friday, December 04, 2009 the main Forex news to be taken into consideration are to come from the United States of America (WoW!): today the data on Change in Nonfarm Payrolls is to be released. That may turn out to be the factor to change all the situation on the market. According to the expectation of Forex traders & investors, EUR/USD is likely to fall down to about 1.4950 and GBP/USD may went down to 1.6450.

by Jonathan Halprid
December 4, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
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