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Forex NewsFrom the NEW YORK (Dow Jones)--The US dollar rose against the euro and yen Friday from strong U.S. consumer sentiment and trade data giving rise to the notion the world's biggest economy is improving. The euro temporarily slipped below $1.32 while the dollar briefly broke above Y84. Data haas shown the U.S. governments 26th straight monthly budget deficitdid not seem to have much impact on currency markets, with a majority of investors taking a short-term view of a U.S. economy that appears to be showing sign of recovery. "It's been awhile since U.S. economic data moved markets," with investors so focused on sovereign-debt issues, said Robert Lynch, currency strategist at HSBC in New York. But Friday's dollar reaction showed that market participants are gaining some confidence that, with the U.S. tax-cut extensions announced earlier this week, the U.S. economy could gain more momentum, several analysts said. "I'm still quite optimistic on the prospects of the dollar, based on the [tax] cuts earlier this week in Washington," said Andrew Wilkinson, senior market analyst at Interactive Brokers in Greenwich, Conn. "There is a bit of a defense mechanism heading into the weekend," with risks associated with a possible interest-rate increase in China, which also helped the dollar, he said. Late Friday afternoon, the euro was at $1.3229 from $1.3243 from late Thursday, according to EBS via CQG. The dollar was at Y83.90 from Y83.69, while the euro was at Y110.99 from Y110.82. The U.K. pound was at $1.5804 from $1.5771. The dollar was at CHF0.9812 from CHF0.9833. The ICE Dollar Index, which tracks the dollar against a trade-weighted basket of currencies, was at 80.078 from 80.019. -By Andrew J. Johnson, Dow Jones Newswires; 212-416-3092; andrewj.johnson@dowjones.com Full story at wsj - Asian edition
According to Jim Sinclair, Chairman and CEO of Tanzanian Royalty Exploration Corporation (TRE: Altanext NYSE platform, TNX: Senior Toronto Stock Exchange). It is apparently above the head of most of the sheeple, but today the majority of OTC derivatives known as securitized mortgage debt ended. The presence of the NY Fed in this potential litigation says that the Fed is holding paper which does not qualify for holding according to its own indenture. This is the end of the majority of a pile of garbage two trillion dollars high. This is one of the best reasons to own gold, regardless of the mindless actions of algorithms impacting price today. The New York Fed, Pimco and others threaten litigation via demand letters to force the Bank of America to buy back $47 billion in OTC derivatives known as securitized mortgage debt. Because the OTC derivative cannot stand the light of day in court, a demand letter is a powerful first tool. Back to e Forex Reviews
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