Excerpt from: Forex Forecast
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| February 27, 2008 | | Forex trading forecast for the US dollar | The forex trading forecast for the US dollar is expected to remain one of weakness. US economic data has been generally weak, and there are expectations of another Fed interest rate cut before April. Past Fed rate cuts have been insufficient to kick start the economy, and at this point it is more an effort to arrest further descent into possible recession. Reuters reports on the US dollar in currency trading:
Analysts reckoned that Wednesday's calendar was unlikely to
bring any respite to the dollar, with January durable goods
orders and new home sales seen easing versus the previous month
and Fed chairman Ben Bernanke seen leaving the door open for
further rate cuts in his semi-annual monetary policy report
before the House Financial Services Committee from 1500 GMT.
| Topic Tags: currency trading, Fed interest rate cut, forex trading, forex trading forecast, forex trading US dollar, recession, US dollar currency trading, US economic data | |
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