OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: US Dollar Index recovering ground AROUND 82.20/25

The greenback, measured by the US Dollar Index, is trimming previous losses on Wednesday, as risk aversion is creeping back to the markets.

In light of today’s US docket, Currency Analyst David Song at DailyFX expects the USD to gather further traction and the Beige Book to show a better prospect for the US economy.
“As the outlook fro growth and inflation picks up, we should see the bullish sentiment surrounding the greenback gather pace, and the FOMC appears tobe slowly moving away from its easing circle as the US economy gets on a more sustainable path”, concluded the expert.

At the moment, the US Dollar Index is up 0.10% at 82.23 facing the next resistance at 82.29 (high Mar.5) ahead of 82.52 (high Mar.4).
On the flip side, a breach of 81.95 (low Mar.5) would expose 81.84 (low Mar.1).

BoE’s King: UK banks too big to fail

BoE governor Mervyn King testified on Wednesday on banking standards before the Parliamentary Committee in London. He said that UK banks were still too important to fail and that the UK Prudential Regulation Authority should address the issue.
Read more Previous

Fundamental Morning Wrap: CAD you believe it, rate decision in focus

On the morning that Venezuela leader Hugo Chavez finally passed away after months of repeated speculation over his supposed death, the initial market reaction looks to be muted, possibly as the impact may be long priced in already. Nevertheless, the news has failed to make any of the mornings institutional research with focus falling on today and tomorrows central bank action, most notably the ECB and BoC rate decisions this afternoon and tomorrow respectively.
Read more Next
Start livechat