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USD comes on again!

On Monday, just according to the previous predictions, the rivals of the American currency managed not only to save their positions, but even suppress bucks a little bit. Lots of the market participants were waiting for that and traders, Forex signals providers and some big investors decided to invest their funds into high-yield currencies on Monday. On the other hand, the positive news from the European continent were also to bring EUR, GBP and CHF up.

For example, the positive news on Euro-zone PMI Manufacture made EUR/USD go up and break through the point of 1.3900. The Forex trading day was finished at the level of 1.3933, which was a pretty nice recovery for the European currency. At the same time GBP/USD was at first brought down to the day’s minimum of 1.5849, but after the release of positive data on PMI manufacturing and M4 money supply, the British pound began rising up. At this rate by the end of the trading day GBP/USD was moving around 1.5962 and lots of signals Forex were showing the possibility of future GBP recovery.

On Tuesday, February 02, 2010, there is not very much of Forex news to be released. Some investors and Forex signals providers will be waiting for the announcement of the data on Euro-zone Producer price index, German retail sales and, of course USA pending home sales. The RBA cash target announcement in Australia doesn’t seem to have great impact on the situation on the market. In accordance with that, it could be admitted, that EUR/USD can go down again and return to the point of 1.3850. GBP/USD is likely to fall as well and might be trading around the point of 1.5900.

by Jonathan Halprid
February 2, 2010
See Forex Analysis and Forex Forecasts for the previous days there:
December 1, 2009 A possible recovery day
January 29, 2010 Negative news brought USD up!
 
 

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