SubscribeDaily Forex Commentary for 030509
March 14th, 2009 • Related • Filed Under
March 5, 2009
U.S. Dollar Tanks on China Stimulus Plan Speculation
The U.S. Dollar gave back most of its recent gains as fear of a U.S. banking crisis subsided following the anticipated announcement of a new plan by China to stimulate their economy. Traders welcomed the idea since it will likely lead to increased demand for U.S. industrial commodities.
The Euro finished the day firm after posting a strong reversal to up on the daily chart. The pattern indicates the market could move higher if 1.2262 is …
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