Forex Market Holidays
Depression in the Forex Market
Depression is visible on the foreign exchange market since a few days. The bad news continues to accumulate, especially on the American side, although the dollar has a resistance to any race. Indeed, despite the setbacks of the automaker General Motors seems to be on the verge of bankruptcy and huge losses registered by Fannie Mae and insurer AIG, the dollar sells a few decimal places to the euro. Despite the difficulties of the U.S. economy, investors of the foreign exchange market continued to show their confidence in the dollar, which benefits from its status as a safe haven and a vertiginous drop in the price of a barrel of oil. It is indeed a long time ago when a barrel flirting with $ 130.
Nevertheless, traders remain cautious. In this holiday in many countries because of the celebrations of the armistice of 1918, exchanges are limited. The only really notable for the day is the new fall of the pound sterling against the euro. The pound sterling, weighed down by recession and also handle the prospect of further rate cuts to cope with slower growth, has now reached its lowest level since the launch of the single European currency.
Finally, the effect of the announcement of fiscal stimulus plan unveiled by Beijing has failed to fire because the awards have again fallen into the red today. Rumors announce a new monetary easing by the central bank of China to support the relaunch plan.
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FOREX VIDEO – EUROPEAN OUTLOOK DECEMBER 22ND 2009
