Tuesday, February 2, 2010
The U.S. Dollar is trading mixed against most major currencies after a volatile, two-sided overnight trade. Thinning trading conditions and position squaring ahead of this Friday’s
U.S. Non-Farm Payrolls Report is having an influence on this week’s trading action.
The Reserve Bank of Australia announced overnight that interest rates would remain unchanged at 3.75%. It is being reported that this was surprise news, but the handwriting was on the
wall a couple of week’s ago when China decided to begin tightening its monetary policy. This led to speculation the Australian economy would be threatened which I believe was a major influence on the
RBA’s decision. The RBA wants to see how recent events affect the economy before making its next decision.
The March Euro is trading better as pressures from the financial crisis in Greece seem to be fading. Investors expect to hear more upbeat news on Wednesday when the European Union
releases its official opinion on Greece’s efforts to shore up its budget. Upside momentum could take this market back to the last main bottom at …
