Posts Tagged ‘QE’
Currency Articles - October 19, 2010 18:52
Today we have seen some respite for the USD. The Dollar has made gains against most currencies today as US Treasury Secretary, Timothy Geithner has said that the US will work to preserve confidence in a strong currency and will not work to devalue their currency.
US monetary policy is proving to be the key focus in the markets at the moment. Most Traders are paying particular attention to Wednesday’s release of the Fed’s latest beige book. This will provide the basis for discussion at the November FOMC meeting when markets expect fresh quantitative easing measures.
Today we have seen another day of continuation of trend. There is clear resistance in the market halting a GBP/USD break through 1.60 and EUR/USD at the psychological level of 1.40. The global stock markets have rallied 1% in the US and 1.7% in the UK.
Today has been an extremely volatile day in the FX markets, Halifax House price data has shown this morning that house prices have dropped the most since at least 1983. The figures were expected to show a 0.2% decline and came out at -3.2%. This could be the initial signal that we are heading back […]