Post Tagged with: "central banks"
Forex Daily Analysis – June 26rd 2008
Yesterday’s economic data from the US were mostly mixed. Existing Home Sales and Unemployment Claims went in opposite directions. Since the Non-farm payrolls data is due next week, the market is concentrating on employment information, hence the disappointing Unemployment Claims figure hurt the US dollar. Today’s traders will see the Revised Michigan Sentiment, Personal Spending,
Forex Daily Analysis – June 20th 2008
The British pound leaped 50 pips after the retail sales surged higher surprisingly. The market had expected a 0.1 drop, and was surprised to hear about a whooping 3.5 percent, the highest in 22 years. In Switzerland, the central bank met expectations by keeping the interest rate at 2.75%. The decision came despite inflation worries.
Influence and foul play are impossible
Due the vast amount of money involved, and other characteristics, it is impossible for any person or company to have a major influence on the market. Past experience shows us that even when central banks interfered with the foreign exchange market, they had success only in the short term. They usually failed in achieving their