Monday February 13, 2006 - 07:09:06 GMT
Share This Story
Tricom Futures and Foreign Exchange -
Forex: Bernanke - the new Messiah, or the future scapegoat??
The dollar hit a six-week high against the euro on Monday as investors expect new Federal Reserve Chairman Ben Bernanke to signal that the central bank is not done with its 19-month streak of raising interest rates.
The dollar had jumped to multi-week highs against the euro and the Swiss franc on Friday, recovering from an initial slide after data showed the U.S. trade deficit swelled more than expected in December and ended 2005 at a record $725.8 billion.
The dollar would likely stay firm ahead of this week's main event for financial markets -- Bernanke's testimony and the release of the Fed's semi-annual report on the economic outlook.
Bernanke is due to deliver the report to the House Financial Services Committee on Wednesday, his first public appearance to discuss the economy and monetary policy since becoming chief U.S. central banker.
Not much to go off today, keep an eye on the Yen again for further gains against the USD, and Euro.
Today's Economic Release:
Today's Top Trades
- Sell EUR/JPY on strength towards 140.50, with stops above 141.00
For more ideas send me an email, firstname.lastname@example.org
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."