Friday, 12 September 2014

Weekly Outlook of FOREX market ending on September 12

Concluding the week with a positive vibe, US dollars recorded higher against 16 major currencies in forex pairing. USD expanded its growth rate in the week as it framed its biggest hit in international trade breaking last record of November 2013 with support from rising expectation of investors from US economic data.

In the running week, USD benchmarked highest record in its pairing with Aussie, with a change at 0.4 percent rate AUD/USD is trading at 0.9064 levels.

The major news driving forex exchange markets, "Early hike in interest rate" after the policy meeting of Federal Reserve and policy makers from September 16 to September 17. On speculations of rising USD, another important pairing with European markets which steadied their fluctuations remained almost flat reporting EUR/USD at 1.2917.

UK markets raged with stormy waves of changing market sentiment as independence of Scotland made its appearance on Monday pulling down Great British Pound (GBP) and another poll saying no to independence of the land brought back growth to sterling.

Market of UK is likely to trade in volatility until the matter is off the table. According to the latest quote, GBP/USD is trading at 1.6237 higher in weekly report and lower in preset levels.

Japanese Yen is running down the valley as it expanded its falling trend following the changes invested by Bank of Japan. Downward movement of JPY and hiking USD is tripping down the pairing of USD/JPY at 0.1 percent trading at 107.24.

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