Daily Forex Commentary for April 16, 2009

April 16, 2009

Are Forex Traders Placing Bets on Order of Recovery?

The U.S. economic data released this week seems to be confusing traders. The surprise drop in U.S. Retail Sales on Tuesday indicated weakness in the economy which led to another round of Dollar buying as traders suddenly became more risk averse. On Wednesday, however, the news that the U.S. CPI contracted for the first time since 1955 was treated like a non-event. One thing that is clear is that investors seem to be picking and choosing the strongest and weakest …
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