November 2009 Blog Posts (23)

Nov 4 outlook

The Federal Open Market Committee (FOMC) decision on short term interest rate is due out tomorrow (Nov 4).

The decision on where to set interest rates depends mostly on growth outlook and inflation. The primary objective of the central bank is to achieve price stability. High interest rates attract foreigners looking for the best "risk-free" return on their money, which can dramatically increases demand for the nation's currency.

A higher than expected rate is positive/bullish… Continue

Added by Adam Horak on November 3, 2009 at 10:32am — No Comments

The Forex Daily Digest – November 3, 2009

The USD hit a one-month high against a currency basket as investors retreated from risk assets on jitters over banks and braced for central bank meetings in the United States, euro zone and UK. Sterling tumbled to a one-week low against the dollar after the UK Treasury announced a shake-up of British banks, which raised concerns about the financial sector.

Federal Reserve officials meeting this week must weigh improving economic data against the risk, reinforced by a persistently… Continue

Added by Forex Daily Digest on November 3, 2009 at 9:12am — No Comments

The Forex Daily Digest – November 2, 2009

The USD gained against major counterparts at the end of last week for the sixth day in the past seven after a government report showed U.S. consumer spending fell in September, threatening the ability of the nation's economy to continue expanding and weighing on equities.

FOREX traders largely ignored a private report showing the Chicago purchasing managers index rose more than expected, to a reading of 54.2 in October from 46.1 in September. Levels over the 50 mark indicate more… Continue

Added by Forex Daily Digest on November 1, 2009 at 8:59pm — No Comments