Excerpt from: Financial Spread Betting Strategies
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| November 07, 2007 | | Looking at rhetoric | One thing to keep in mind when formulating financial spread betting strategy is rhetoric. In many cases, listening to those that set policy can help you determine where a market is headed.
A prime example of this is China. With China's vast economic power, rhetoric by Chinese officials can have a profound impact on world markets. And comments about the U.S. dollar illustrate this point. Reuters reports on information that can help you place spread bets regarding the U.S. dollar:
The euro surged versus the dollar after a senior Chinese
politician said China should balance its forex reserves so that
strong currencies like the euro offset the weaker dollar.
The greenback was also put under pressure after a Chinese
central bank official said the dollar is losing its status as
the major global currency. | | |
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