Dollar Slides Whilst Crude Climbs
November 10th, 2009 Posted in Daily Forex Overview
Name: Dan Eduard
Email:
The U.S. Dollar slid against its main currency counterparts yesterday. For example, the EUR/USD pair climbed for the second day, as it now approaches the 1.5050 level.
The weak Dollar helped push Crude prices higher, as the commodity is priced in Dollars. Also, as yesterday’s trading dragged on, investors attempted to use the commodity as a hedge against inflation.
10:00 GMT EUR – German ZEW Economic Sentiment
•The indicator measures the level of a diffusion index based on surveyed German institutional investors and analysts.
•There is expected to be high volatility on the publication of the above data.
•Traders should pay close attention to the forex market as there is an opportunity for them to take advantage of fluctuations that are likely to follow this key release.
15:00 GMT USD – IBD/TIPP Economic Optimism
•Measures the level of a diffusion index based on surveyed consumers
•Key indicator of American economic health.
•Positive results are likely to lead to a bearish U.S. Dollar.
20:00 GMT NZD – RBNZ Financial Stability Report
•The news is set to lead to volatile trading.
•Important as the event is likely to lead to clues of future New Zealand Interest Rates, and other aspects of New Zealand’s monetary policy.
Start trading with Dan Eduard now:
Tags: Crude Oil forecast, Crude Oil prediction, Dollar Slides Whilst Crude Climbs, EUR/USD, German ZEW Economic Sentiment, IBD/TIPP Economic Optimism, RBNZ Financial Stability Report, USD forecast, USD prediction
