Daily Trading Tips for November 17th
November 17th, 2009 Posted in Daily Forex News
Name: Russell
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Dollar Declines, Whilst Pound Soars
The U.S. Dollar fell significantly in Monday’s trading. This was initiated by optimistic U.S. Retail Sales figures. This helped produce an equity market rally in the U.S., and a sell-off of the USD. As a result, the Dollar fell and Crude Oil prices jumped significantly.
The GBP soared yesterday, as speculation by investors, both big and small, grew that the GBP will make a comeback in the coming months. This led the Pound to make significant gains versus all of its major currency pairs yesterday.
09:30 GMT GBP – Consumer Price index (CPI)
• The indicator measures the change in the price of goods and services purchased by consumers.
• 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.
10:00 GMT EUR – Trade Balance
• Measures the Difference in value between imported and exported goods and services during the reported month.
• The release usually creates volatile trading.
• A result better than the forecast could lend significant support to the EUR in today’s trading.
13:30 GMT USD – Consumer Price index (CPI)
• Measures the change in the price of finished goods and services sold by producers.
• Key indicator of American economic health.
• Positive results are likely to lead to a bearish U.S. Dollar.
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Tags: daily tips, dollar, Forex Trading, forex trading tips, GBP
