US Dollar Sees Demand Over Conflicts on US Budget Talks

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Forex Trading

: 27 September 2013

The EUR/USD market saw a quiet day yesterday, with most of the price action taking place around the $1.35 mark as it has done for the last few sessions.

Although the shared currency did lose 36 points, the overall trend seems to be more of a consolidation pattern for now.

Even if the economic data shows that the Eurozone recession might have technically ended, the pace of US recovery needs to remain convincing.



Forex Trading

: 26 September 2013

The EUR/USD has rallied after yesterday's fall, rising to $1.3521.

The release of strong German confidence data seems to have erased any lingering concerns over fresh European bank stimulus.

The market gained momentum after German consumer sentiment rose to its highest level since September 2007.



Forex Trading

: 25 September 2013

Amid a clash of different views on the US budget talks, the forex markets saw an increase in demand for safe haven currencies yesterday.

As such, the US dollar got its fair share of interest, with the EUR/USD pair losing 20 points to $1.3472.

A weaker than expected reading for the German business climate may have also convinced a few participants to sell.



Forex Trading

: 24 September 2013

The euro started the week on the back foot, losing 54 points to $1.3492 amid plenty of uncertainty regarding the German political format.

Although no one is questioning Angela Merkel's victory, her party still needs a coalition partner to rule the country.

Meanwhile, Eurozone manufacturing figures disappointed investors, trumping the encouraging outlook for services.



Forex Trading

: 23 September 2013

Ahead of a very busy weekend for the German politics, investors were rather reluctant to jump in either way, despite the widespread consensus that the chances of an upset were slim.

As such, the EUR/USD pair finished flat at $1.3523, also trading within a very tight range.

However, news of an overwhelming victory for Angela Merkel triggered an early rally in the shared currency last night, although this is slowly losing steam this morning.


By Jonathan Sudaria, 27 September 2013


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