The USD Rebounds Up

After taking a beating last week, the USD is beginning to show some small signs of recovery. Starting the week clouded by uncertainty and straining under market anxiety, the USD sustained blow after blow from the impact of deliberations about a U.S. economic rescue plan, and worse-than-forecasted economic indicators. The verdict is almost out as news from Washington is indicating that a breakthrough was made over the weekend and the bailout package is almost set to be passed into law, giving the U.S. Treasury more authority over the financial workings of domestic banks and financial institutions and, in theory, stabilizing the recent financial crisis.
Generating less volatility than expected, the market last week was characterized more by lack of direction than anything else, as analysts struggled to predict the movement of the major currencies. The $700 billion rescue plan, the largest financial bailout since the Great Depression, if enacted, could put […]

Original post by Forextvblog

This entry was posted on Monday, September 29th, 2008 at 4:23 am and is filed under trading, gold, 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.