Hey! The weekend is here. So, time for Forex recap, isn‘t it? There are signs of worldwide fiscal improvement in most of the countries with good trading status.
The most positive news from US is that there is drop in unemployment claims - the lowest numbers since 3rd January 09 and decreased appreciably more than the expectations of the last week. There is also a drop of 33K in claims as compared to last week figures and stopped around 521K.
There is a continuous twelve-month decline of around 1.3% in August in the wholesale inventories, as indicated by the second report with one percent rise in sales.
The ratio of inventories to the sales reached at 1.20 which indicates that it would take one and half months for wholesalers to sale the inventories in hand.
This was the lowest level since September 2008. It has, in turn, made the whole sellers to make big orders for supply and help to enhance the industrialized goings-on.
The USD position against other rival currencies is as follows.
USD/AUS- The pair rallied at 0.8950 and crossed the 0.90 level on yesterday‘s Forex trade shot.
USD/EUR- The pair hiked in today‘s Forex shot with EUR tested at 1.48 as the risk appetite shifted from AUS enhanced the EUR. On Trichet comment, the pair rebounds above the power trend line and this proved as the resistance is now having support level at 1.4650. This is the new high for the week ahead with more than 1.48.
USD/CAD- The pair is improving with slowed down fall to initiate the trade week, but lost yesterday with support at 1.0525. This is because trading action of the pair is diminishing with a year low.
These are the news updates regarding the currency pair position in the Forex market and the USD trends prevailing in the trading platform.
The article puts forth the information about the Forex trading and currency pairs positions in the market.
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