Those who are expecting the US Dollar rally to end any minute are clinging to outdated prejudices.
Foreign Exchange Currency Outlook: We get some data on consumer behavior and sentiment today ahead of retail sales tomorrow, but the big release of the day is the trade deficit for June. It is expected to rise to $62 billion on the higher price of oil at the time, even though exports are booming. If it’s a deficit of $62 billion, it will be the highest in over a year. The forecast range from Bloomberg is $59 to $65.7 billion.
We say trade will not constitute an “event” this time. Traders are accustomed to the US
by
imsfx
2008-08-15 10:35
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http://cme-currency-trading.blogspot.com/2008/08/those-who-are-expecting-us-dollar-rally.html
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