lukewwilliamsx
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All about lukewwilliamsxFOREX TRADING BROKER - 0 STARTUP ACCOUNT As it stands, the greenback sold off sharper than we thought, giving back in a single day what we expected to be spread out over much of December. The mountain nation relies heavily on exports, with overseas shipments forex broker amounting to a whopping 59% of overall gross domestic product. Some stalling as traders head off for the holidays notwithstanding, a bounce looks plausible as the dominant bullish trend resumes momentum. Bearish On balance, the data docket is unlikely to stir meaningful forex signals volatility in the Franc exchange rate, with markets already betting that Switzerland will follow the lead of other European nations into a protracted downturn. We suggested last week that safe-haven assets (most notably the US Dollar) may retrace recent strength as seasonal capital flows grip the forex market. Swiss exporters count on the US, UK and the top three Euro Zone economies for over half of their demand. Indeed, last week saw the Swiss Global Bank cut interest rates by another 0.50% on expectations that the economy will shrink in 2009 and 2010 (-0.5% and -1.0% respectively). Retail sales are seen adding a meager 2.0% in the year to October, down sharply from the 6.4% registered in the preceding month. Risk trends and technical considerations are far more central to shaping near-term price action. Indeed, last week saw the Swiss National Bank cut interest rates by another 0.50% on expectations that the economy will shrink in 2009 and 2010 (-0.5% and -1.0% respectively). On balance, the data docket is unlikely to stir meaningful volatility in the Franc exchange rate, with markets already betting that Switzerland banking will follow the lead of other European nations into a protracted downturn. - IS Visit our recently updated USD/CHF Currency |