Wednesday, February 29, 2012
Fed Bernanke refrains from signaling QE3
(Reuters) - The dollar gained against the euro and yen on Wednesday as factors ranging from month-end positioning to a European Central Bank cash infusion and lowered expectations of another Federal Reserve bond-buying binge raised the greenback's appeal. Robust U.S. data, which typically increases risk appetite, favored the dollar versus the euro as it highlighted a growing disparity between the economies on both sides of the Atlantic.
Ongoing financial strains in Europe prompted the ECB to infuse over a half a billion euros into financial markets. "The ECB's auction in some ways could be interpreted as form of quantitative easing," said Charles St-Arnaud, foreign exchange strategist at Nomura Securities in New York. link to full article on REUTERS
Tomorrow in the online traders room we will be looking for some nice range trades as this Dollar gain should some correction. Key level on usd/jpy in particular is what I will be looking to enter in. JOIN US TOMORROW March 1st ---------95% of people trading lose money, but not if you know what you are doing. Become successful and join the Group of 5% of Successful trader. Forex Insight Team can teach YOU to become within the 5% minority of people who are making money.
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