Daily Forex Commentary for May 1, 2009

May 1, 2009

Light Trading Conditions Lead to Mixed Results

Forex markets traded mixed on Thursday. Trading was light ahead of the European holiday tomorrow and participants seemed to use the light trading conditions to move the market in both directions.

Early in the day the major news was limited to a couple of positive economic reports out of the U.S. These stories helped support the thought of the start of a U.S. economic recovery and bolstered trader appetite for risk.

Around mid-session news that Chrysler filed for bankruptcy …
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