On the Forex Market the Dollar index continued to linger around recent levels, as it closed at 80.23 points towards the end of the U.S session. BRIC
countries continued to have an effect on the Greenback mentioning that
a new reserve currency is now required, due to the Dollar’s status.
While news headlines have flooded the market over the last couple of
days with comments from Russian officials, those headlines are starting
to fade, especially as the topic will require a long process, something
that might not even be realized in the end.
From a technical point of view yesterday’s analysis on the Dollar index is still intact, as the Dollar continues to trade above trend line support and below major resistance.
Britain
surprised analysts during yesterday’s trading session with a better
than expected unemployment result of 7.2%. Even though the rate was the
highest since July 1997 the result beat analyst’s expectations of 7.3%,
providing the Pound with strength during the session. According to
statistics the younger age group is feeling most of the pressure in
England due to the economic situation, finding it hard get employed.
The
EUR/USD also presented a volatile session increasing against the USD,
while the Dollar/ Yen pair finished the session flat. Movement on all
the pairs will occur once the Dollar receives a clearer direction.
Read the full article at dodjit.com
countries continued to have an effect on the Greenback mentioning that
a new reserve currency is now required, due to the Dollar’s status.
While news headlines have flooded the market over the last couple of
days with comments from Russian officials, those headlines are starting
to fade, especially as the topic will require a long process, something
that might not even be realized in the end.
From a technical point of view yesterday’s analysis on the Dollar index is still intact, as the Dollar continues to trade above trend line support and below major resistance.
Britain
surprised analysts during yesterday’s trading session with a better
than expected unemployment result of 7.2%. Even though the rate was the
highest since July 1997 the result beat analyst’s expectations of 7.3%,
providing the Pound with strength during the session. According to
statistics the younger age group is feeling most of the pressure in
England due to the economic situation, finding it hard get employed.
The
EUR/USD also presented a volatile session increasing against the USD,
while the Dollar/ Yen pair finished the session flat. Movement on all
the pairs will occur once the Dollar receives a clearer direction.
Read the full article at dodjit.com
