Corporate foreign exchange news

Foreign exchange news: Wednesday dollar trading will be bumpy

Wednesday, 25 November 2009 09:13:06 GMT

Published by Mark Smith-Halvorsen
The dollar is expected to trade in a volatile fashion today (November 25th), which will be the last day of the US trading week due to a two-day Thanksgiving holiday.
The London Forex Broadsheet reports that trade during the Asian and European sessions today will also be shaped around the closure of US markets and will be particularly attentive to the slew of economic data due out today.
Key US reports will include personal spending figures, unemployment claims, home sales and durable goods figures. A demand report due out later today from the Energy Information Administration is likely to shape trading in crude on the New York Mercantile Exchange.
Oil has climbed in recent months despite persistent weak demand as traders have used the commodity as a hedge against inflation.
"The trends reads are aligned with USD weakness, but the momentum reads are calling for a USD buying reversal. The global commodity and equity markets have very mixed reads on the near-term charts," predicted the London Forex Broadsheet.
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