Excerpt from: Forex Forecast
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| August 25, 2008 | | Currency trading with the greenback | The U.S. dollar forex trading forecast has a reasonably optimistic outlook right now. Currency trading with the greenback should consider the two following bits of information:
- On the commodities market, oil prices
continue to fall. Weaker oil prices generally mean a stronger greenback. - Ben Bernanke's Friday speech indicated that he still worries about inflation, and economic data is backing up possibilities of further inflation.
The U.S. dollar in FX trading has a good chance of consolidating some of its gains and rallying further. Bloomberg reports on the U.S. dollar forex trading forecast:
``The decline in oil prices has contributed to a quasi
rebound in the dollar,'' said Geoffrey Yu, a currency strategist
in London at UBS AG. ``Also, what Bernanke said was less dovish
than many people had expected. He's still hawkish on inflation.'' | Topic Tags: currency trading greenback, forex trading forecast, inflation, oil prices, U.S. dollar forex forecast, U.S. dollar forex trading, U.S. dollar FX trading | |
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