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USD Graphic Rewind: Dollar Gears Up For Big Week
Written by article default Monday, 01 November 2010 10:38
The dollar was under pressure again on Friday as US GDP came in just below economist forecasts despite accelerating from the Q2 showing. The losses however, were kept in check by recent ranges which has a base around 76.50 and quiet trade in the last session of October. Players were also wary of the important week that lies ahead of us, the results of which may well determine the course of trade for the last two months of the year.
Looking ahead, we have PMI data in Europe from Switzerland and the UK, but trade is likely to remain subdued with European markets shut for All Saints Day. In the US session things are likely to focus around the ISM releases with an eye all the while on the FOMC which is on Wednesday.
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