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U.S. Dollar Forex Trading Forecast: Consolidation Ahead

Tue, 30 Jun 2009 08:46:32 -0400

Greenback likely to see consolidation in currency trading

The U.S. dollar forex trading forecast calls for increased consolidation. Going forward, the global economy calls for some cautious optimism, rather dramatic growth. This means that the greenback is unlikely to make very many major swings in currency trading. GFT's Kathy Lien offers this forex trading forecast in FX360:

Growth will be negligible at best and therefore traders and investors will remain in wait and see mode as central banks keep interest rates on hold. There may be some talk of exit strategies, but nothing will be implemented until 2010 at the earliest. Therefore consolidation is the most likely trend in the currency markets with a bias to the downside for the dollar.

With things in slow-recovery mode, it is unlikely that we will see any major movements by the U.S. dollar in forex trading. However, long-term, there is likely to be downward movement for the greenback in currency trading.

Canadian Dollar Forex Trading Forecast

Mon, 29 Jun 2009 10:41:04 -0400

Loonie poised for monthly drop in currency trading

The Canadian dollar forex trading forecast calls for a monthly decline for the loonie in currency trading. The Canadian dollar has been struggling recently -- especially against the U.S. dollar.

Loonie has been vulnerable in currency trading due to concerns about commodities. With oil prices volatile and often lower, thanks to economic concerns, the Canadian dollar has been following suit.

For now, the Canadian dollar forex trading forecast calls for a slight decline against the U.S. dollar, achieved during trading that is mostly rangebound.

U.S. Dollar Forex Trading Forecast

Thu, 25 Jun 2009 08:29:03 -0400

Greenback unlikely to maintain recent momentum

After yesterday's Fed announcement, the U.S. dollar rallied against other major currencies. However, things are already changing around for the U.S. dollar forex trading forecast. While the greenback received some momentum from the announcement, GFT's Kathy Lien explains in FX360 why the dollar rally is unlikely to last:

So if the Fed did nothing, then we can expect nothing to alter the near term outlook in the currency market. As we indicated in our FOMC Instant Insight , the “rally in the dollar may not have significant follow through because at the crux of it, the statement remains virtually unchanged.”

Indeed, the dollar is already dropping to the euro in forex trading, even though it is gaining against the pound and the yen. In the long term, the greenback is not expected to maintain any sort of a rally against the euro in forex trading.

Forex Forecast | GFT Forex

U.S. Dollar Forex Trading Forecast: Consolidation Ahead

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Canadian Dollar Forex Trading Forecast

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U.S. Dollar Forex Trading Forecast

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