Forex –Dollar traded mixed, eyes on BOE’s and ECB’s interest reports
January 10 2008 -The dollar being on the diverse path with fluctuations, since a long span raised to a certain high yesterday, but still facing competition from its global peers The latest concerns of today is related to the interest rates report which is about to out, all investors and market players curiously waiting for it.
The dollar being on the diverse path with fluctuations, since a long span raised to a certain high yesterday, but still facing competition from its global peers The latest concerns of today is related to the interest rates report which is about to out, all investors and market players curiously waiting for it. So far the economies like US and UK which have been exposed to the financial credit crisis, driven the economy to the slow pace. There are possibilities the weakness will cover the Europe and to some extent the upcoming market. However there are expectations from the emerging market to boost the economy as contrasted to the developed economies.
However central banks are expected to decline the interest rates to let sufficient funds into the market in order to outweigh the possibilities of inflationary risks and recession in the world’s biggest economy. There is wide expectation that the European central bank will hold constant its interest rates and the European central banks will have a decline, as decrease in consumers spending can lead the economy to a sharp slowdown.
As analyzed by www.forexwebtrader.com the yen bounced against dollar on account of the market speculators who disposed off the dollar before have turned back towards it again. It was at $1.9554 which was almost nine month low, as against the yen it was down at 214.66 yen. On the other hand dollar also gains back against the euro and sterling as the investors or the market players awaited the conclusions of the European central banks and Bank of England’s meeting. The dollar as against sterling touched a nine months high on the expectations of the decline in interest rates and looking over the economic outlook of the economy. The possibilities of rates cut have doubled from previously which can slide us into recession, which could also drag along with it the Europe’s economy.
One of the precious metal gold which has tripled its worth since 2000, went to another 31% high the previous year, it will gain further against the US as there are expectations that Federal Reserve with decline in interest rates further to stave the economy away from the conditions of recession.
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