Forex Updates- Asian Currency Session Market Gains
Wednesday, April 29, 2009
Overall, the currency market extended the gains seen over the last trading day, on Wednesday, during tonight’s Asian session. After two days where the currency investors bought only USD, the market had a sudden change of mind, as it seem that the speed of the credit crisis is going down. According to the Forex updates the US and the European calendars are filled with top-tier releases, something that may present strong momentum in the market for the rest of the trading session.
Forex updates
The Euro (EUR/USD) on Wednesday, the Euro headed the majors higher against the USD. The Euro led higher, gaining 210 pips until the release of the FOMC report when it fell down 70 pips.
The Cad (USD/CAD) dropped as much as 200pips in the last day of trading, helped by the gains in the crude oil market. In the Asian session, the CAD dropped another 50pips, retesting the 1.1980 support area. If the CAD breaks anywhere lesser, it will reach the lowest-level since early January.
Forex updates
The Euro (EUR/USD) on Wednesday, the Euro headed the majors higher against the USD. The Euro led higher, gaining 210 pips until the release of the FOMC report when it fell down 70 pips.
The Cad (USD/CAD) dropped as much as 200pips in the last day of trading, helped by the gains in the crude oil market. In the Asian session, the CAD dropped another 50pips, retesting the 1.1980 support area. If the CAD breaks anywhere lesser, it will reach the lowest-level since early January.
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