US Dollar Sees Sharp Rally as FOMC Members Discuss Early Tapering

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Forex Trading

: 22 November 2013

The strength of the German economy continues to push the Eurozone on a recovery path, with the positive data just about trumping the disappointment from its French counterpart.

This encouraged a slight rebound in the shared currency, with the euro rising 39 points to $1.3469 after the previous day's sharp sell off.

Another positive sign for the Eurozone was a fifth consecutive expansion in its composite PMI.



Forex Trading

: 21 November 2013

Several Federal Reserve members seemed confident that the latest economic improvements could be enough to start a scale back of asset purchases in the near future.

This was something of a surprise, given last week's opposite speculation in the media, and so sparked a sharp rally in the dollar.

The currency closed 108 points higher against the euro at $1.3430.



Forex Trading

: 20 November 2013

A board member of the European Central Bank said yesterday that the policy makers should be careful in using negative interest rates to address low inflation.

That sparked a rally in the shared currency versus the dollar, with the euro/dollar forex spread trading market ending 35 points higher for the day at $1.3539.

Meanwhile, the ZEW economic sentiment in Germany improved to 54.6 from 52.8 previously.



Forex Trading

: 19 November 2013

The Eurozone trade balance figures were pretty much in line with the wide consensus yesterday.

That kept the shared currency in check, especially with the European Central Bank expected to remain on standby for the rest of 2013, waiting to see what effects the rate cut will have.

So, despite the feel good factor in the global stock markets, with the S&P 500 and Dow Jones breaching psychologically important levels, the EUR/USD pair gained just 7 points to $1.3504.



Forex Trading

: 18 November 2013

The highlight on this side of the Atlantic during the last few weeks was undoubtedly the surprise interest rate cut by the European Central Bank as a result of falling inflation.

However, even if they do consider acting again, they will probably wait until next year, especially with the US also on standby for the rest of 2013.

The EUR/USD pair gained 31 points to $1.3489.


By Jonathan Sudaria, 22 November 2013


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