The Euro recovered lost ground late Tuesday and has sustained its gains in early trading this morning. The U.S Federal Reserve will release its FOMC Statement later today. Speculators are battling important resistance with the Euro and showing signs of strength.
Category : Analysis
Gold has entered a challenging short term stage as it continues to face pressure from a number of factors. The stronger U.S Dollar and profit taking have factored into the mix. Trump is speaking tonight and the Fed’s FOMC Statement is tomorrow.
Forex saw a whirlwind of action on Thursday as President Trump said he foresees a strong U.S Dollar. ECB President Mario Draghi earlier in the day caused the Euro to become stronger. Big data from the U.S and a speech by Trump in Davos will factor into the markets today.
Forex has produced significant gains for the Euro, Pound and Yen against the U.S Dollar. And Gold and Crude Oil have also powered higher in the past day. The short term trend has been impressive in the broad markets and the weakness of the U.S Dollar has been self-evident.