Today’s sample of Forex Analysis from ForexHound.com
The U.S. Dollar closed trading mixed after trading in a range most of the day following the release of a poor October jobs data report. The loss of 190,000 jobs was somewhat of a surprise. Traders were positioned for a loss of 175,000 jobs. The unemployment rate climbed to a 26-year high to 10.2% and the world didn’t fall apart. Traders either believe this is the bottom in unemployment or they have become complacent which could mean huge volatility is looming.
The Dollar was treated as a safe-haven by some currencies while others remained focused on their own fundamentals. The action in the outside markets suggests lower interest rates and a weaker economy. Chicago financial market traders increased bets that the Fed will keep interest rates low for some time.
This week-end the G-20 meets in Scotland. Members will discuss the value of the Dollar and Asian currency rates then take a group photo on the steps of some famous building. Don’t expect anything earth-shattering at this meeting.
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Dollar Finishes Mixed in Sluggish Trading
Posted - November 07 2009 : 05:41:17
