Oil inventories watched after USD pauses to rest

Profits were taken on the US dollar, especially against the yen and vis-a-vis commodity currencies. The strength of commodity currencies will be tested with crude oil inventories, which have an effect beyond the Canadian dollar. Also the pound will have its share of action ahead of “Super Thursday” with industrial output data. For EUR/USD, we will hopefully see a break out of the range. USD/JPY looks somewhat vulnerable.

Wrap up of the morning show for Wednesday, May 11th:

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

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