New York, New York (PressExposure) December 04, 2009 -- BOJ decided to keep the interest rates at 0.10% and ready to extend the monetary support program; positive data releases of US increased USD trade and lit a light of improved economic growth in the coming days.
The data releases of US encourage positive trading sentiments among the traders and they started selling off and buying some other risky assets. Because investors think that, the USD rates may drop very low and if it happened, investors will be in big loss so they sell off their trades before the market goes down and this made the USD to trade at the level of 74-resistance area.
The US treasuries are rallying down due to increased demand for US bonds in this week. Commodity prices are rallying and the gold prices are continuing to reach at the peak.
USD yesterday's trade left the market surprised and huge swings visualized in different currency values. EUR/USD closed at 1.5100 levels, USD/CHF traded down at 0.9918, GBP/USD traded at the level of 1.6720 and USD/JPY closed at the level of 84.15.
The major pairs experienced the sudden changes in the currency values and the overall outlook of the Forex market changed in a moment.
However, Forex market remain quiet as today is "Thanks Giving Day" and the traders are taking relaxed breathe as the market is indicating positive signs of growth. The next session will give the clear picture of the Forex trading and the next steps of the traders.
This Thanks Giving Day brought a spur of happiness with it in the Forex market and raised the hopes of traders regarding their trades and investments that market will come out of this recessive phase soon and will come back on the track of the growth.
Finexo is working actively to keep all the traders thoroughly updated with the fresh currency rates and the different trading dimensions of the market.