Wednesday September 29, 2010 - 18:03:38 GMT
Share This Story
Forex Hound - www.forexhound.com
U.S. Dollar under Pressure as Fed Considers More Easing
The U.S. Dollar is under pressure at the
mid-session as the Federal Reserve considers additional monetary policy easing
amidst growing concerns the economic recovery is poised to derail.
The Euro surged to the upside again
overnight as investors shrugged off sovereign debt concerns in Ireland and Spain
while choosing to focus on the weakening U.S. economy and the possibility of
another round of quantitative easing by the Fed. Short-term oversold technical
factors may be the only reasons for a near-term correction.
The British Pound is trading slightly
better in choppy trading. The Sterling
posted a potential closing price reversal top on Tuesday after a Bank of
England official called for additional quantitative easing. The topping pattern
hasnâ€™t been confirmed yet mostly due to the size of the Tuesdayâ€™s range.
The Japanese Yen is trading better but off
its high. A better than expected Tankan report helped drive the Yen higher
versus the Dollar, but investors expressed caution about the report since the
forecast for December is indicating a weaker Japanese economy.
Investors are concerned that the Bank of
Japan may have to ease further at next weekâ€™s meeting since a weakening economy
will mean the central bankâ€™s forecast for a recovery next year may have to be
The intraday trade this morning suggests
that some traders are looking for another round of intervention ahead of next
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."