U.S. Dollar Lower in Spot Forex Trading

Spread betting and contracts for differences on the spot forex market should consider that the U.S. dollar is lower today as some degree of risk appetite returns. U.S. stock futures are pointing higher, following performances by European markets on the hope that something will be done about Greece (and maybe Portugal).

Additionally, the U.S. dollar is getting some downward pressure from gold prices, which are moving higher.

Investors are also waiting to hear what Federal Reserve Chair Ben Bernanke has to say today. Other Fed members have different ideas of what to do going forward, as GFT's Kathy Lien reports in FX360:

When and how the U.S. central bank plans to remove stimulus is one of the biggest questions facing the financial markets right now and hopefully Bernanke can provide some answers. Although yesterday’s comments from Fed President Yellen suggest that she wants the Fed to keep monetary policy easy for as long as possible, comments from Fed President Hoenig this morning indicate that not everyone shares her dovish sentiment. Hoenig believes the Fed should continue implementing its exit strategy and favors changing the language on rate policy.

As a result, forex traders are interested to see which viewpoint will win out, and will be looking for clues in Bernanke's speech.