The US dollar retreated some more on Monday, especially against the Euro. USD.EUR currently stands at 1.3691, breaking resistance of 1.35. Also the British pound managed to get away from the 1.50 pivot spot, now trading at 1.5278. GBP/USD struggled more than the Euro. The loonie (USD.CAD) and the chocola (USD/CHF) also weakened – USD wekened. Also the New Zealand dollar and the Australian made gains against the dollar. The only stable pair is USD/JPY. After breaching the 90 Yen mark near the end of last week, it returned to sit above 90, and it doesn’t make big moves like other currencies. The thought of a big intervention by the BOJ looms over this pair. Federal Reserve to cut interest rates Today, at 19:15 GMT, the Federal Reserve is due to announce yet another cut in interest rates. Some analysts expect a sharp cut of 0.75% to 0.25%. The more common sentiment is of 0.5% cut. This event is the focus of all traders today. Other news expected today: French, German and European Flash Manufacturing PMI and Services PMI, British CPI, Bank of England’s Inflation letter, US building permits, US Consumer Price Idnex (and core CPI), and American housing starts. But as aforementioned, although some of this expected data would be major in a regular day, forex traders will be anticipating today’s interest rate, and the following statement by Ben Bernanke. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Daily Look share Read Next As low as possible (almost) Yohay Elam 14 years The US dollar retreated some more on Monday, especially against the Euro. USD.EUR currently stands at 1.3691, breaking resistance of 1.35. Also the British pound managed to get away from the 1.50 pivot spot, now trading at 1.5278. GBP/USD struggled more than the Euro. The loonie (USD.CAD) and the chocola (USD/CHF) also weakened - USD wekened. Also the New Zealand dollar and the Australian made gains against the dollar. The only stable pair is USD/JPY. After breaching the 90 Yen mark near the end of last week, it returned to sit above 90, and it doesn't make big moves like… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
