Excerpt from: Forex Commentary
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| April 30, 2010 | | Greenback lower on economic report | The U.S. dollar is weakening in currency trading on the FX market today. The greenback is lower in forex trading on the most recent economic report. Even though Quarter 1 showed economic expansion, it was not in line with expectations from analysts.
As a result, the U.S. dollar is down against the euro in forex trading, and weakened against the Japanese yen. Gold prices are also gaining as dollar weakness provides support.
We will have to see how things go moving forward, though. In terms of USD/JPY, the slightly disappointing number should not have a great deal of effect, reports Kathy Lien in FX360:
As long as job growth continues and non-farm payrolls remain positive,
this sentiment should hold and risk appetite should continue to
improve. The weaker GDP number will only deal a small blow to USD/JPY 
which will be more sensitive to the market's overall risk appetite.
| Topic Tags: currency trading, economy, Forex trading, FX market, greenback, Kathy Lien, U.S. dollar | |
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