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Forex Trading Reviews & News 
Yesterday saw Sterling hit a ten month low against the Dollar; today it was the Euro’s turn. Forex traders continue to be nervous about the possible impact that the Greek debt problem will have on the stability of the Euro; or at least that is the reason put forward for the depreciation of the currency.
It is highly unlikely that one of the Eurozone’s smaller economies will be allowed to derail the single European currency, but the Euro will slide until it looks cheap, or traders sense risk in their Dollar and Yen positions – neither Japan nor America can be said to be immune to debt worries and their economies are hardly powering ahead, after all.
The Euro hit a low of $1.3436, a level not seen since last May, before closing up slightly at $1.3606. The Euro closed higher against Sterling (£0.976 to the €) and was flat against the Yen (120.68 Yen to the €) which suggests that the Dollar is strengthening rather than the other currencies are weakening. This is probably not so much a vote of confidence in the US economy as a re-adjustment in the value of the Dollar which has fallen quite heavily over the course of the global economic crisis.
It is highly unlikely that one of the Eurozone’s smaller economies will be allowed to derail the single European currency, but the Euro will slide until it looks cheap, or traders sense risk in their Dollar and Yen positions – neither Japan nor America can be said to be immune to debt worries and their economies are hardly powering ahead, after all.
The Euro hit a low of $1.3436, a level not seen since last May, before closing up slightly at $1.3606. The Euro closed higher against Sterling (£0.976 to the €) and was flat against the Yen (120.68 Yen to the €) which suggests that the Dollar is strengthening rather than the other currencies are weakening. This is probably not so much a vote of confidence in the US economy as a re-adjustment in the value of the Dollar which has fallen quite heavily over the course of the global economic crisis.
Australia GDP 2.7% for 2009
Figures just released show that the Australian economy managed to grow at 2.7% last year. It was the only major economy to avoid recession. In a widely expected move, the Australian central bank has raised its interest rates by 0.25% to 4% in order to prevent the economy from overheating. The bank has indicated that further rises are likely, returning the interest rate to “typical” values off the back of the 50 year historic low level seen at the height of the global financial crisis.
