Forex Market Roundup – 24/03/10
Today’s Forex Market Roundup shows some interesting news and happenings which may offer all of you Forex traders the opportunity to make those all-important killer trades. There’s plenty of food for thought with encouraging figures in released from the US yesterday, news of an IMF bail-out for Greece and the awaited UK budget details.
Today the UK Government will release the annual budget, with Forex traders watching closely as the report will almost certainly act as a key short term driver for the markets. The UK CPI report showed inflation dropping from 3.5% back down to 3% in February. One contributory to the dampened UK inflation rate is the falling price of UK gas prices, with overall prices for the year falling by 1.9% in contrast to a 3% rise for the previous year.
The price of euro currency pairs closely followed the various news stories that broke yesterday including news that the EU has agrees to include the IMF in an economic bail-out for Greece. Germany and France, the EU’s two largest economies, proposed a deal to save the failing Greek economy but only if the International Monetary Fund was used to assist the agreement as Germany refused to use German tax payers money to help the struggling EU state. The turmoil surrounding the Greece saga saw the Euro reach new lows at Forex markets such as AVAFX.
In the US better than expected existing house sales and new home sales forecast along with the release of February’s durable goods orders forecast saw the dollar make headway against its European counterpart. The dollar managed to hang on to the small gains it made during yesterday’s trading even as the US stock markets rallied.
To start Forex trading with one of the industry’s most trusted Forex sites visit www.avafx.com where you can start Forex trading in minutes with as little as $100.
