« Bunge agrees to buy Corn Products in $4.8 billion stock deal
Bunge raises earnings guidance »

Interesting Trading Week Ahead After The Oil Summit in S.A

The USD saw a significant swing in momentum last week as it saw losses versus most of its currency rivals. The dollar was affected in large part due to the rekindling of economic worries in the US that has put the potential Federal Reserve (Fed) rate hike in jeopardy. Fed Chairman Ben Bernanke and his constituents have been adamant lately about the intention of raising rates if inflationary behavior continued. The oft traded EUR/USD pair saw its biggest weekly jump in over 3 months, after the US currency previously spent weeks recovering versus the very same EUR.
Last week’s US fundamental data was stable as the key calendar events came back either even or positive. Most of what drove greenback bullishness over the last few weeks were inflationary scares that pushed talk of a Fed rate hike. However, as the week progressed rising Oil concerns and big losses from mutual funds […]

Original post by Forextvblog

This entry was posted on Monday, June 23rd, 2008 at 2:47 am and is filed under Crude Oil, currency trading, forex, Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply