Forex Managed Accounts News
The question on everyone’s mind is have we reached a temporary bottom? This may be the case due to the holiday weekend approaching and the possibility of a surge in oil as well as the continuing failure in the housing market. But one could look back over time and see that having the ability to flood the market with new dollars and bail out crumbling mortgage lenders has served the country well and will continue to do so long into the future.
With a moderate re-trace from the lows seen overnight the GBP and Euro are waiting on housing news to find direction.
The Asian market gave up a bit to the US and the markets opened “up” this morning.
At this writing the Euro stands at 1.4788 and the GBP is resting on 1.8535. Remember it was not that long ago that the Euros numbers were at 1.60 and the GBP a staggering 2.00, so corrections were in order.
There is still room for improvement and this is an election year here in the states so anything can happen.