Yesterday, The Fed cuts its stimulus program from 85billion dollar a month into 75billion. As soon as the announcement was made, USD rose in almost all pair, including JPY and AUD, and knocked out Asian currency. Today (20/12), Bank of Japan released its statement for the new stimulus program.
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After talking about AUD determinants yesterday, now we want to talk about another interesting topic, that is EURO determinants. Euro strengthens at the beginning of this week after the release of German's manufacturing data. It happened despite of Greek's mess and concerns about France. Why Germany? When at the same time, there are other countries in Eurozone.
At last, the Fed announced the long-awaited tapering. Financial world was scrambling to get behind the stronger USD. Bloomberg (19/12) reported that Asian currencies, including Yen, fell after the announcement. Are you one of the traders who took profit from this event? Or are you dropped down like Asian currencies? The Asians, especially Indonesians, are questioning whether this is a signal for upcoming crisis.
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AUD exchange rates continue to sink in the last one month. Not only weaken against USD, Aussie also fell to five months low against its neighbor, NZD. From forex news, we can see that AUD is not only impacted by the usual factors that influenced forex, but also China economic reports. How come China partake in AUD/USD trade?
GBP's trading these days expresses cautious market. Yesterday's report mentioned that sterling hold gains on all but two of its rival currency. It reached modest gain on Euro,but down against USD. This is the mark of cautious market. The question is, till when it will go on?
After weeks of predictions and uncertainties, forex market this week will see some realizations. The week's schedule is quite crowded, started by the Tankan report in Japan, going through FOMC meeting in the USA, plus various economic releases and Central Bank Governors speeches. In this kind of circumstances, you could suffer extreme gain and loss, up to whose prediction and which indicator has the stronger influence. Here, we invite you to analyze the attendants of forex party this week.
