Excerpt from: Spread Betting European Stocks
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| August 21, 2006 | | Currency traders wait on key U.S. economic data | More key economic data is expected from across the pond on Wednesday, and this has currency traders waiting to see which way to go. CFDs regarding the U.S. dollar should be avoided at this time; rather, concentrate on CFDs regarding other currencies. The greenback proved volatile in weekend currency trading, swinging in wide ranges, according to Forbes: Dealers said the US dollar swung within wide ranges in overnight trading on Friday following a further monetary tightening in China and a weaker US consumer sentiment survey for August.
They said the US dollar traded between 115.45-116.00 yen while the euro was between 1.2780-1.2845 usd over the European and US sessions.
However, the potential for big gains could lead more daring traders to enter CFD orders including the U.S. dollar. | | |
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