Archive for the ‘Fx’ Category
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- Up to 12 years of minute interval forex data and 19 years of daily, weekly and monthly data.
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Forex Traders are worried Fridays release of the US unemployment rate was way worse then expected and now the US Dollar might face further decrease.
American Labor Department reported that the much higher unemployment rate could be due to lagging data. The non-farm payroll employment fell by 216 000 jobs in August, followed by a revised decrease of 276 000 jobs in July. The new numbers are indication that America is now facing a 9.7 % unemployment rate, the highest in 26 years. Financial analysts and currency traders did expect a 9.4 % unemployment rate in July.
Further pressure on US Dollar
However, it seems like the decrease have moderated the last months, even if some sectors still face continued job losses. Still, consumer confident might be lagging in the coming months. As a result of the unexpected numbers from USA, many online forex traders assume that the US Dollar will continue to suffer against the Euro and Yen.
Many investors see online forex as an alternative when the equity and property market remain risky.
There are many reasons for this. Let us explain a few here:
- When the stock market are turbulent, investors seek alternative investments.
- It’s hard to predict the stock market at the moment.
- Newspapers write more about online forex and how currencies fluctuate.
- With currency trading, you are not dependent of a positive equity market.
What will you do in turmoil times, trade online forex?