Posts Tagged ‘GDP Data’
Currency Trading – Dollar Index Swing Point
Wednesday, December 23rd, 2009Dollar Index Swing Point
The initial long-Usd moves in European trade were reversed as the U.S. GDP numbers printed at 2.2%, lower than expected, but were then added to again as Existing Home Sales came in at 6.5M units, which was above the expected 6.3M read. The last leg of Tuesday trade has then been to once again add to long-Usd positions as European markets close.
The pattern for currency markets is to go sideways in afternoon Wall Street trade, but there are signals in the way that forex pairs have split, that today could be different. Long equities, Long dollar, and Short gold and oil, are not things that pm U.S. trade has dealt with too often, and it will be interesting to see this unfold as the dollar takes another wipe out of the euro, cable, and aussie.
Forex Market Update – German Industrial Production Improves Ahead of GDP Data This Week
Monday, November 9th, 2009German Industrial Production Improves Ahead of GDP Data This Week
Today, Germany released another upbeat data after the buoyant news released recently; marking that the worst is over and the largest economy in the euro area will lead growth in the third quarter as it did in the second quarter.
The Euro Zone’s gigantic economy released its Industrial Production showing improvement in September coming in at 2.7%, higher than the revised 1.8% and median estimates of 1.0%. Also, on the year the reading inclined to -12.9% compared with the revised -16.5% and expectations of -14.4%.
