ForexPros Daily News October 5, 2010
ForexPros Daily News October 5, 2010
Free webinar on ForexPros - Top 12 Golden Trading Tips: Start Your Day on the Right Side of the Market
Expert: Stephanie Radkay
When: Mon, Thu, Oct 7, 2010, 11:00 ET
Trading can be as risky as flying a plane. Pilots use a checklist to get off the ground and so should traders. Here is your 12 tip checklist to give you the confidence and the best opportunity for success. In this webinar Stephanie Radkay, CME Floor Broker, Screen Trader and Educator, will address personal vs. market risk like you've never seen it before, her Rotating Directional Trading System (RDS) and 10 other golden nuggets that have been used successfully since 1993.
Click here to join free
---
Forex - USD/JPY erases gains amid Fed stimulus concerns
Forex Pros – The U.S. dollar erased gains against the yen on Tuesday, retreating from a 4-day high, amid concerns that the Federal Reserve may implement further quantitative easing in the coming months.
USD/JPY retreated from 83.97, the pair’s highest since September 29, to hit 83.33 during European morning trade, shedding 0.02%.
The pair was likely to find support at 82.92, the low of September 15 and a 15-year low and resistance at 84.33, the high of September 28.
Earlier in the day, the Bank of Japan announced that it had lowered its benchmark interest rate to a range of between 0.0% to 0.1%, the lowest level since 2006.
The bank said that, “although Japan's economy still shows signs of a moderate recovery, the pace of recovery is slowing down partly due to the slowdown in overseas economies and the effects of the yen's appreciation on business sentiment”.
Meanwhile, the yen was down against the euro, with EUR/JPY gaining 0.64% to hit 114.82.
Late Monday, while addressing a forum in Rhode Island, Federal Reserve Chairman Ben Bernanke said that that the central bank’s first round of large-scale asset purchases improved the economy and that further buying will probably help more.
---
Forex Trading Analysis written by Munther Marji for ForexPros. For more information about forex news visit ForexPros.
---
Disclaimer:
Trading Futures and Options on Futures and Cash Forex
transactions involves substantial risk of loss and may not be suitable for
all investors. You should carefully consider whether trading is suitable for
you in light of your circumstances, knowledge, and financial resources. You
may lose all or more of your initial investment. Opinions, market data, and
recommendations are subject to change at any time.
Free webinar on ForexPros - Top 12 Golden Trading Tips: Start Your Day on the Right Side of the Market
Expert: Stephanie Radkay
When: Mon, Thu, Oct 7, 2010, 11:00 ET
Trading can be as risky as flying a plane. Pilots use a checklist to get off the ground and so should traders. Here is your 12 tip checklist to give you the confidence and the best opportunity for success. In this webinar Stephanie Radkay, CME Floor Broker, Screen Trader and Educator, will address personal vs. market risk like you've never seen it before, her Rotating Directional Trading System (RDS) and 10 other golden nuggets that have been used successfully since 1993.
Click here to join free
---
Forex - USD/JPY erases gains amid Fed stimulus concerns
Forex Pros – The U.S. dollar erased gains against the yen on Tuesday, retreating from a 4-day high, amid concerns that the Federal Reserve may implement further quantitative easing in the coming months.
USD/JPY retreated from 83.97, the pair’s highest since September 29, to hit 83.33 during European morning trade, shedding 0.02%.
The pair was likely to find support at 82.92, the low of September 15 and a 15-year low and resistance at 84.33, the high of September 28.
Earlier in the day, the Bank of Japan announced that it had lowered its benchmark interest rate to a range of between 0.0% to 0.1%, the lowest level since 2006.
The bank said that, “although Japan's economy still shows signs of a moderate recovery, the pace of recovery is slowing down partly due to the slowdown in overseas economies and the effects of the yen's appreciation on business sentiment”.
Meanwhile, the yen was down against the euro, with EUR/JPY gaining 0.64% to hit 114.82.
Late Monday, while addressing a forum in Rhode Island, Federal Reserve Chairman Ben Bernanke said that that the central bank’s first round of large-scale asset purchases improved the economy and that further buying will probably help more.
---
Forex Trading Analysis written by Munther Marji for ForexPros. For more information about forex news visit ForexPros.
---
Disclaimer:
Trading Futures and Options on Futures and Cash Forex
transactions involves substantial risk of loss and may not be suitable for
all investors. You should carefully consider whether trading is suitable for
you in light of your circumstances, knowledge, and financial resources. You
may lose all or more of your initial investment. Opinions, market data, and
recommendations are subject to change at any time.
Views: 17
Comment
© 2024 Created by James Dicks.
Powered by
You need to be a member of JDFN Financial Network to add comments!
Join JDFN Financial Network