Newsroom /
Finance
/
Finance
/
Extension of Stimulus Plans: What is the response of USD at Forex Trade?
Extension of Stimulus Plans: What is the response of USD at Forex Trade?
This article gives an insight to look at the Forex trading movements and the influence of USD trade against the collective decision of extension of stimulus plans.
New York,
New York,
United States of America
(prbd.net)
12/11/2009
"USD toppled once again that too the fifteen month low because all other major nations decided to go with the stimulus plans for further Forex trading days."
USD toppled once again that too the fifteen month low because all other major nations decided to go with the stimulus plans for further Forex trading days.
This fall is the response of the USD regarding the decisions of major nations in the supporting the economy to really come back on the trend.
This decision will cheer the trader for making investment in high yielding assets and keep the Forex market live. EUR enjoying the profitable position against USD at Forex trade after German Exports increase to a level of 0.9% in contrary to the expectation of the experts of a turn down lower than the last month’s figure.
USD Trade Index has the tendency to make the USD trade against EUR, JPY and GBP fell down one percent to 75.063 from 75.820 the figure of 6 November. The trade index reached to 74.930 that was the lowest level since August 2008.
However, the trade index has lost 7.7 percent since the starting of the year. US unemployment rate climbed in October to 10.2%, which was highest since 1983.
According to the reports of trade experts, unemployment rate is ringing the alarming situation at the Forex trade. Now, the question arises Fed Reserve will wait for some more time. EUR/USD is presently trading at $1.4995 indicating that the bullish market.
Some updates about the major currency pairs trades:
EUR/USD: It is trading at the spot point of 1.4978 within the tight trade range greater than 120 pips during the previous trading sessions. If the trader wishes to shift the pair little higher that will require to break above the higher points of the previous trading day at the level of 1.5020 and the level of 1.5070.
GBP/USD: It is trading at the spot level of 1.6752 that bounced slightly after the turn down in the Second half of the US trading session. The resistance still stands at the R1 move backward and forward point at the level of 1.6860 whereas the trading support level reached at 1.6700.