Forex News – US Dollar generally lower versus rivals as the British pound surges & the Euro drops

On Tuesday the US dollar was broadly lower against its major rivals, as the pound surged on the back of expectations for a near-term interest rate hike, meanwhile the Euro fell during new concerns about the Euro zone sovereign debt
By: Investtechfx
 
March 22, 2011 - PRLog -- InvestTechFX reports that the US dollar was marginally higher against the Euro, with the EUR/USD easing down 0.11% to hit the mark 1.4209 during the early day trading session. Also earlier in the day, Portugal’s main opposition party indicated that it would not support the minority government’s call for an additional round of austerity measures, bringing the country closer to an election while adding to fears that the country itself will be forced to seek an international bailout.

The US dollar was down against the British pound, with the GBP/USD rising 0.51% to hit the mark of 1.6391. Official data released earlier indicates that consumer prices in the United Kingdom increased more than originally expected in the month of February, to reach a 28 month high. The US dollar was also moderately lower against the Japanese yen, with the USD/JPY descending 0.04% to hit the mark of 80.98. InvestTechFX is a No Dealing Desk (NDD) and Straight Through Processing (STP) Forex company offering an industry leading ½ pip on all 6 majors while trading with the MT4 platform. InvestTechFX recently reduced their fixed spreads from 0.5 PIP to 0.2 PIP for 3 majors. When customers open an account with a deposit of $5000.00 they can receive leverage of up to 1:500. InvestTechFX recently reduced their fixed spreads from 0.5 PIP to 0.2 PIP for 3 majors.

InvestTechFX sources state that earlier Yoshihiko Noda, Japan's Finance Minister announced that the Group of Seven leading industrialized nations would continue to cooperate after a joint intervention to curb the yen’s record gains last week brought some stability back to the market.

The US dollar was also fractionally lower against the Swiss franc, with the USD/CHF dipping 0.07% to hit the mark of 0.9037. In addition to news happening in the markets earlier Tuesday, there was a release of official data that showed Switzerland’s trade surplus widened more-than-expected in February, as exports remained booming regardless of the strong franc.

Concurrently the US dollar was down against its Canadian, Australian and New Zealand cousins, with the USD/CAD falling 0.04% to hit the mark of 0.9772, AUD/USD advancing 0.47% to hit 1.0111 and NZD/USD surging 0.72% to hit 0.7409.

Official data released earlier Tuesday showed that Canadian retail sales were unexpectedly flat in February. Also early on Tuesday, official U.S. data indicated that manufacturing activity in Richmond fell more-than-expected in March. The dollar index, which tracks the performance of the US dollar versus a basket of six other major currencies, was up 0.02%.

InvestTechFX software solutions deals with the Forex Market offering specialized Money Manager, IB and White Label services as well as many benefits including ½ pip fixed spreads, leverage ranging from 1:100 to 1:500 to permit the use of scalping, hedging options and Expert Advisors.

The market in Foreign Exchange is often unpredictable and always fluctuating. Therefore if you are interested in doing trade in this market, make sure that you take the time to be knowledgeable about good strategies that can help you trade successfully. With InvestTechFX you can practice trading currencies on demo mode using the MT4 platform before depositing actual funds into a live account. As you gain experience you can make real profits using InvestTechFX.

In March of 2011 InvestTechFX will be offering some excellent bonuses depending on the amount of deposits made by customers. On a deposit of $250 customers will get a 10% trading bonus. $ 1000 customers will get a trading bonus of 20%  $10,000 customers will get a trading bonus of 25 %  and $20,000 deposit customers will get a  trading bonus of 30%.

It is important to keep updating yourself with the different economic trends in the international scene. After all, this currency market is greatly affected by the events that occur in the different countries and their respective economies. Familiarizing yourself with the factors that affect the FOREX market will surely help you make better decisions. For more information please visit www.investtechfx.com.
End
Source:Investtechfx
Email:***@investtechfx.com Email Verified
Tags:Finance, Forex, Curriencies, Money, Usd, Gbp, Business
Industry:Financial, Forex, Money
Account Email Address Verified     Disclaimer     Report Abuse
Trending
Most Viewed
Daily News



Like PRLog?
9K2K1K
Click to Share