SubscribeDaily Forex Commentary for April 30, 2009
April 29th, 2009 • Related • Filed Under
April 30, 2009
Silver Lining in U.S. GDP Report?
The primary theme in the Forex markets on Wednesday was increased appetite for risk as investors punished the U.S. Dollar following the release of a government report showing the U.S. economy had contracted more than expected during the first quarter.
The preliminary U.S. GDP Report showed a decline of 6.1% versus pre-report guesses of 4.7%. Normally this news would have been considered bearish as traders would have bought the Dollar in anticipation of more economic weakness in the future. Instead analysts digging …
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