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Good day forex trading koalas!

Today is Tuesday and i think i am catching a cold. Too early in the week to fall sick. Not when trading is in full swing and there are tons of crazy work waiting for me.

Yesterday saw Goldman Sachs receiving a subpoena from the Financial Crisis Inquiry Commission. The market did not take that well and stocks took a dump! G20 meetings came and went but did not yield something concrete for now. It was mentioned that the global recovery faces significant challenges.

Over in Europe, damage control was on with regards to Hungary’s comment on a possible default. Officials mentioned that such comments were regrettable. The general consensus was that Hungary will probably not be the next Greece. Reports surfaced saying that the German’s share of the economic aid package for the Euro Zone may be temporary stopped. This is something we need to pay close attention to.

The EUR/USD is tired and resting. AND YES I LOVE IT WHEN MY CHART WORKS. 1.1934 seems to have a magical effect and the currency pair often interacts around it.

The S&P 500 equities index is down and is currently 1040+.

Oil is around $71.

Gold took a rocket ride and is now at $1250+. I said again and again. Gold is an investment of choice when it comes to uncertainty. With all the budget deficit party going on, gold is naturally a party star!

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A survey showed that international opinion of the European Union in terms of business opportunity has fallen sharply. In fact majority felt that the European Union probably has the worst investment opportunity. Spain faces massive debt redemption next month and is bracing for possible strikes with regards to the government pay cut. Investors do not like a troubled country. The European Union has much to do to improve on it’s outlook to investors. Investment funds are flowing out now just like the Niagara falls!

Over in the US, things are apparently better. Fed chairman Bernanke said that the recovery in the US is “moderately paced”. However he did acknowledge the unemployment problem, saying that unemployment rates are probably going to remain high for sometime. This is probably why you do not get a massive influx of investors waiting to dump their money in the US just like folks queuing up for the latest iphone.

Having said so, i mentioned before that the current situation now is “Who wants to be a zero-naire?” and hence US gets the better of it for now ( Since compared to the Euro Zone, the US seems to be more “stable” ).

Among the data releases tomorrow, Fed Chairman Bernanke is also scheduled to testify. Be careful of unexpected spikes if investors react to any “hidden” clues about financial policies.

From a technical point of view, with the day being light on economic data for now, it seems like either way would be possible. Watch the risk aversion level for clues. Bullish momentum may see 1.2/1.21. A strike by the bears may see 1.19/1.18.

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On to international news, North Korean border guard ’shoots three Chinese dead’. There is a saying, you never bite the hand that feeds you. With North Korea’s high dependency on China for economic / financial support, the last thing to do is to anger the Asian Powerhouse.

Trade safely!

Related Forex Articles from the Koala Forex Training College.

  • Gold can be an indication of uncertainty.
  • What is risk aversion in forex?
  • Unemployment crisis in the US.
  • Read more Forex Articles and Views by The Koala at

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