Wednesday, 23 September 2009

Tuesday, 22 Sep 2009 EUR/USD Hits Yearly High of 1.48!

Tuesday, 22 Sep 2009
EUR/USD Hits Yearly High of 1.48!
The EUR/USD climbed to a 1-year high today, spiking upwards towards the 1.48 price level. The EUR continues to be the leading beneficiary of recent market outlook with uncertainty surrounding Britain, Japan, and the United States. The Euro-Zone, while not making leaps and bounds in any one category, nevertheless remains bullish from the growing attitude towards risk.

Gold prices also fell below $1,000 an ounce for a short while, but no investors jumped into the sell trend and it came back up. Gold is currently trading near $1,015 an ounce. Silver experienced similar behavior, since its trends tend to mirror Gold's, and it now trades near the $17 price level.

While this morning saw a high level of activity in the market, the afternoon and later trading sessions appeared to die out. Most investors are no doubt gearing up for tomorrow's intense news sessions with multiple data releases from the Euro-Zone in the early trading sessions and the US Federal Funds Rate scheduled to be released at 18:15 GMT. Traders may be in for a bumpy ride and shouldn't forget to also check out commodity prices as there are plenty of opportunities to turn a quick buck in tomorrow's market.