Thursday March 30, 2006 - 07:31:10 GMT
CMC Markets - www.cmcmarkets.com
Share This Story:

|

|
Email
Dollar softens as traders reconsider Fed verdict; more data awaited
March 30th - Although there has been limited economic data released overnight, the dollar has found itself under a degree of pressure as traders seem to have decided that the earlier run of buying driven by Tuesday’s hawkish note from the Fed may have been somewhat overdone. Marginally weaker than expected Japanese industrial output data may well be limiting gains by the Yen, but both the Pound and Euro have been steadily trending higher in recent hours. We are now seeing a slight reversion but with a swathe of month-end economic data due in the next couple of days, some consensus over fair values should start to emerge. There’s a scattering of numbers due from across the Eurozone including German unemployment and French consumer confidence but it’s going to be US GDP data and the weekly jobless claims that stand to provide the most salient direction for currencies in the near term. However, after this recent swing traders will be looking for some reassurance that the US economic outlook remains balanced and any significant jumps today could easily result in further support for the greenback emerging.
Paul Jackson and Enis Mehmet
Forex Trading News
Forex Research
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
here.
Forex News
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."