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Good day forex trading koalas!
Today is Monday and it is a blue Monday for me. I feel so unrest-ed from the weekend that my fur may start shedding soon! Arrgghh.
We ended Friday noting that the Fed chairman Bernanke mentioned that Fed stands ready to provide additional stimulus if required. This might seem like a suggestion that the Fed acknowledges a weak economy and there may be concerns regarding this. Many analysts believe that a prolong period of such extraordinary stimulus may be more harmful than helpful towards the US dollar. The EUR/USD was approaching the strong line of 1.28.
Looking at the EUR/USD chart above, we observe a bullish momentum since trading started.
The S&P 500 has dipped slightly lower and is approaching 1050.
Oil is around $74 for now.
Gold remains elevated at $1230+, suggesting a heightened state of risk aversion as gold is usually in demand during times of uncertainty.
While most data were right on target today, the US Personal Income came out lower than expected. As personal income is related to consumer spending, investors tend to worry of the impact on the general economy. After all, an economy in it’s simplest form is just buying and selling. In a greater outlook, with so many consumers struggling with debts, a lower personal income may lead to challenging situations with regard to the repayment of debts.
We have a FOMC member due to speak later and hence do plan your trades well. Tomorrow also brings us important economic data such as the German Unemployment Change and US CB Consumer Confidence.
Remember i was warning about forex gaps a few times the past few days? A forex gap did develop today and i hope no one was caught by it.
A few friends of mine mentioned that my crazy work situation may be caused by my poor time management. Hmmm i wonder and wonder. Will saving a minute here and there really help alot? So the problem lies with my crazy work or me?
( LOL i just wasted one minute pondering on this )
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