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Sum-up of trades and their performance on Forex
Sum-up of trades and their performance on Forex
Today the Forex has lot of data release lined up including the German Consumer Price Index for January expected to stay at -0.6%, Germany Trade balance of December anticipated to have profits of around 15 billion EUR.
New York,
New York,
United States of America
(prbd.net)
11/02/2010
"Trade balance reports of December with the expectation to have loss of around 6.63 billion"
Today the Forex has lot of data release lined up including the German Consumer Price Index for January expected to stay at -0.6%, Germany Trade balance of December anticipated to have profits of around 15 billion EUR. UK Trade balance reports of December with the expectation to have loss of around 6.63 billion, UK wholesale inventories of December anticipated having gains of around 0.5%.
Currency pair trading on Monday was ordinary with no big changes as currencies traded in very tight trade ranges and just tried to secure the last week sell offs.
The majority major currency pairs appear to figuring the short-term base because the negative trade sentiments reached to the extreme trade levels and no further bad news is able to ignite sell off the currencies.
Yesterday’s Forex economic calendar displayed no major announcements that catch the concerns of others. There was news that the Fed is thinking to sell-off the assets as the current fiscal position demands to take such decisions to manage the balance-sheet records.
Fed President does not envisage added extension of the MBS purchases next March and does not estimate a dual immersion of the recession and regarding the employment growth prospects President was quite confident to have better outcomes in the near future.
Forex markets have now turned their concentration to Bernanke tenth testimony in the offing for more information on the Fed’s exit plans. USD/JPY currency pair action of yesterday reached in between 89.55 to 89.15.
The currency pairs that are in focus for today is EUR/USD having pivot point at 1.3640 with the possibility to trail into the long position at the Forex trading platform with 1.3650. Like USD/CAD having pivot point at 1.0750 with an inclination to enter short position at 1.0750.