We have very important day today as some important data news coming out of US today at 8:30 and 10 AM EST Newyork time, Today the US economic data will be significant, first news is about US GDP which is always important to spike up or down Dollar, the other one is Home sales which is already down in US and making US economy down, and the last important data news is US Jobless claims.
Fed chairman bernanke speech will also be watched closely, Some big traders said that Investors are continuing to price in further interest rate cuts. Markets have, however, priced in around a 90% chance of a further rate cut in October and this will increase the risk of a significant dollar correction stronger if these expectations are adjusted.
Extreme Caution required on US Data News at 8:30 AM and 10 AM EST today.
Have a Nice trade !
Thanks and Best Regards
Fxforecaster Team
www.fxforecaster.com
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