Forex Trading: this year’s loser – the USD
It is always easier to choose a winner in the Forex market – and when I say easier I mean, to short the U.S. dollar.
The U.S. dollar fell to its lowest level in a year against a basket of currencies on Tuesday after the big stock gains brought a return of risk appetite. Volume of transactions was considerably higher as investors returned from their vacation and has begun assessing the events of recent weeks.
The falling dollar has also been triggered by rising prices of raw materials like gold, which traded at more than $ 1,000 for the first time since February. Concerns about the dollar's status as reserve currency were also a factor, since a UN report, which called for a new system of global reserves of reduced demand for the dollar.
at 1115 GMT, the dollar was trading down 1. 14% for the euro to 1. 4494, down 1% for the Japanese yen to 92. 23, down 1% to the pound to 1. 6494, up. 07% for the Canadian dollar to 1. 0785, downward. 8% for the Australian dollar A. 8622, falling. 5% for the New Zealand dollar. 6959 and down 1. 4% for the Swiss franc to 1. 0463
The U.S. dollar fell to its lowest level in a year against a basket of currencies on Tuesday after the big stock gains brought a return of risk appetite. Volume of transactions was considerably higher as investors returned from their vacation and has begun assessing the events of recent weeks.
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The falling dollar has also been triggered by rising prices of raw materials like gold, which traded at more than $ 1,000 for the first time since February. Concerns about the dollar's status as reserve currency were also a factor, since a UN report, which called for a new system of global reserves of reduced demand for the dollar.
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At 1115 GMT, the dollar was trading down 1. 14% for the euro to 1. 4494, down 1% for the Japanese yen to 92. 23, down 1% to the pound to 1. 6494, up. 07% for the Canadian dollar to 1. 0785, downward. 8% for the Australian dollar A. 8622, falling. 5% for the New Zealand dollar. 6959 and down 1. 4% for the Swiss franc to 1. 0463
The Australian dollar was unmarked in recent months, and I never made any secret of my love for that currency. But the U.S. dollar, which has attracted my attention, such as trade more profitable, depending on the currency which is coupled with, if you happen to be on the short side of things I've done quite well. Even the pound against the dollar has lost pathetic and does not provide that change soon.
One reason for this is the new development of the United Nations, who has openly called for a "new world" system of reserve currency – a new world order of things, if you want. Now, keep in mind the United Nations is not a fan of the United States for some time, despite the United States the majority of paying bills and being a strong supporter of most of its programs social, such as UNESCO and UNICEF. The world hates the dog and there was no right of veto in the United States takes, I know that there would be criticized much more open and, dare I say, sanctions against the largest economy the world.
But the announcement by the UN comes in the wake of President Obama decides who will be the first president of the United States to chair the session, all powerful (I'm cynical here) Security Council. In a gesture intended to help bridge the gap between the impression that the world is on "locked" and "maverick" of the United States, the president wants to address the world stage with an open hand and show that we can work together. Now I bet this has little to do with nuclear proliferation than does the UN appeal yesterday – but I am not able to make such an accusation.
Forex market online, we saw the dollar began its collapse. China, which had remained silent about his concerns on the dollar for several months, is also back in the picture. Speculation is that their $ 2 trillion in dollar reserves has been liquidated and moved quietly to gold – which would explain the sudden increase of polished products. Besides, as the voice again, sending a senior Communist Party to the media by using words such as "appalled" to describe what they think of the free use of the printing U.S. Treasury to pay their bills.
Cheng Siwei, senior leaders in China, told the Daily Telegraph that Beijing has been forced to reshape its foreign exchange policy. There is no doubt that this has serious repercussions on the dollar and that is why I believe that no matter what the data show a recovery, the dollar is a declining trend in the coming months. China does not do things half-ass, and you can bet that this is not the last time you heard the great financier of the discontent of the United States. The season is ripe for a controversy – in September and has not been a good month for the USD – My bet is that this will be one of the worst records. Sit down and short – will not be sorry you did.
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