Forex Daily Outlook January 28, 2010

The dollar closed a touch firmer, on the day that perhaps should have brought on more volatility with Bernanke speaking about the future of US interest rate policy. As expected, interest rates did not increase and the Feds statement didnt alter the market perception about rates remaining low for an extended period of time. Federal Reserve member Hoenig was the only one to dissent from the statement keep interest rates low for an extended period of time; this may have been the only interesting bit to the news release story attached below.

(http://www.bloomberg.com/apps/news?pid=20601087&sid=a43kXbcN.fAU&pos=4)

We will have more on this in the future, as of now, we expect the dollar to continue gaining ground and a break below 1.4000 seems inevitable. We must wait for Europes reaction to the breach of the 1.4000 figure.

Category:

Education

Tags:

• forex
• fx
• trading
• currency
• training
• currency trading
• forex trading
• daily outlook
• analysis
• technical
• fundamental
• interest rate
• money