Forex: Tuesday's review

The dollar fell against most of its major counterparts as Federal Reserve Chairman Ben S. Bernanke said rising oil and commodity prices probably won’t boost broader inflation and interest rates will likely remain low.

Experience with price gains in recent decades, along with currently stable labor costs, suggests a “temporary and relatively modest increase in U.S. consumer price inflation,” Bernanke told the Senate Banking Committee in his semiannual monetary policy testimony.

Bernanke reiterated the Fed’s outlook that while growth will accelerate this year, he still wants to see a “sustained period of stronger job creation.”

The euro gained versus the dollar as the European Commission raised its growth forecast and said inflation may stay above the European Central Bank’s limit for most of 2011.

The dollar briefly erased losses against the euro after the Institute for Supply Management’s factory index increased to 61.4. from 60.8 in February, the Tempe, Arizona-based group said today. Readings greater than 50 signal growth.

The ISM’s measure of new orders in the U.S. rose in February to 68, the highest since January 2004, from 67.8. The employment gauge jumped to 64.5, the highest since January 1973, from 61.7 in the prior month.

EUR/USD: the pair bargained within the limits of $1,3740-$ 1,3770.

GBP/USD: the pair bargained within the limits of $1,6215-$ 1,6275.

USD/JPY: the pair shown high in the field of Y82,20 then decreased.

US data starts at 1200GMT with the weekly MBA Mortgage Application Index and is followed by Challenger Layoffs data at 1230GMT.Fed speakers start at 1300GMT when Kansas City Fed President Thomas Hoenig delivers a speech to the Council on Foreign Relations in New York. The ADP National Employment Report then follows, at 1315GMT. At 1500GMT, Federal Reserve Chairman Ben Bernanke is back, giving his semi-annual monetary policy report to the House Financial Services Committee in Washington.

The main core-European release is industrial PPI for January, which is expected to rise by a reading of 1.1% m/m, 5.8% y/y.

UK: The UK starts the main data calendar with the release of PMI Construction data at 0930GMT.

Data then continues with the 1500GMT release of the latest Help-wanted Online index and also the 1530GMT release of EIA Crude Oil Stocks data. Later on, the Fed releases it's latest Beige Book, at 1900GMT.

Latest news

11.12.2024

Forex Today: Market players eye Australia’s jobs data, ahead of US PPI and jobless claims

11.12.2024

Dow Jones Industrial Average treads water after US CPI meets expectations

11.12.2024

Mexican Peso strengthens as US CPI supports Fed rate cut speculation

11.12.2024

Canadian Dollar bucks post-BoC rate cut

11.12.2024

Gold price rises as US inflation data supports further Fed easing

11.12.2024

Silver: Little room for a mistake – TDS

11.12.2024

Silver Price Forecast: XAG/USD rebounds from $31.60 as sticky US CPI boosts Fed rate cut bets

11.12.2024

OPEC slashes Oil demand forecasts on weak economic outlook

Support

Personal area

Trading
- Account types
- Market
- MetaTrader 4/5
Promotions
- Promotions
Investments
- Synchronous Trading
  - Rating
  - About Service
  - How it Works
  - FAQ
Analytics
- News and Tools
- Market analysis
  - Market Opinions
  - Technical Analysis
TeleTrade
- About brand
- Сooperation
- Knowlege Base
  - Education

Personal area

Forex Demo Account

Start Bonus 100%

Synchronous Trading

Our Advantages

Economic Calendar

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers