Daily Forex Commentary for July 28, 2009

July 28, 2009

Forex Markets Tiring while Waiting for Stock Market Correction

The opening call in most Forex markets – with the exception of the Japanese Yen – was higher as European and Asian traders must have been anticipating a strong rally from the get-go in U.S. equity markets. When this rally failed to materialize, the Dollar strengthened. Despite a recovery in the equity markets into the close, the inability to rally the higher risk Forex markets to their highs for the day is an indication that the selling may be greater …
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