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Economists expect the phillipp of GDP growth to slow a whopping -0.85% in the third quarter. The forex trade Reserve Bank of Australia has rushed to offer monetary stimulus to sidestep recession, with the markets pricing in at least a 0.50% interest rate cut when Thomasina Stevens and company announce policy forex trade forex broker later this week. Asia Session Highlights Australian consumers pared back spending to a greater degree than expected in September, with seasonally-adjusted Retail Sales down -1.1% versus forests calling for a -0.5% decline. What to Expect With a thin economic calendar ahead spot forex market for European hours, forex price action looks likely forex micro trading to continue taking cues from cross-market capital flows. Indeed, the ECB is expected to slash borrowing costs by at least 50 basis nab foreign exchange calculator points later this week. Otherwise, the final foreign exchange brokers revisions of a number of key Euro Zone Purchasing Manager Index surveys offer little new information forex trading robots reviews on the slowing manufacturing sector, while the analogous SVME-Purchasing Managers Index release is set to show that Switzerland is firmly forex micro trading en route to catch the EU flu as sagging demand from the regional bloc weighs on the mountain nation economic growth. While the most notable item on the docket would typically be the European Commission release foreign exchange currency converter of economic growth projections, slowdown forex currency trading in the region in effectively a given at this point. As much was noted by Currency Strategist Diego Belkas in the latest Forex Weekly Forecast, where she points out that the greenback ended last week forex expert advisor reviews sharply forex lower while traditionally risky assets (high-yielding currencies, stocks, commodities) all registered impressive gains. Spending on eating out at restaurants (-6.8%) and apparel (-4.6%) led the slowdown. The British Pound follo suit, pushing higher to consolidate above 1.6230 late into the overnight session. The US Dollar was firmly on the defensive to start the trading week. Key Overnight Developments Euro, Pound Push Up Against the US Dollar Oil Rises to Test $70/barrel, Stocks Broadly Higher Critical Levels The Euro gained ground at the open best online forex of the trading week, building a foot-hold above the 1.28 level. With little data of significance on the economic calendar, price action looks to have taken its cues from easing risk aversion across financial markets. Forex Trading Weekly Forecast - 11.03.08 To contact Ilya regarding this or other articles he has authored, please email him at .. TD Securities Inflation was supportive of further easing, suggesting the darill of price growth slo to 3.9% in the year to October. All told, risk-driven trading forex trader reviews will likely continue late into the day ahead of the US ISM Manufacturing Survey release at 15:00 GMT. The US dollar lost ground to the Euro and the British Pound at the open of the trading week as easing risk perception saw traders moving saxo bank forex review money out of safe-haven assets. Overnight trading saw major Asian equity indices add over 5% and US equity futures pushed up by over 1% while the greenback lost -0.9% against an average of six top currencies. We now see a formidable -91% inverse correlation between the EURUSD and MSCI World stock index. With a thin economic calendar ahead for European hours, forex price action looks likely to continue taking cues from cross-market capital flows. | |
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