Forex Analytics from LiteForex of 03.11.10: Activity at Forex will be low on Wednesday
Dollar goes up due to political news
The pair EUR/USD is traded downward at the Forex currency market on Wednesday morning due to the success of the Republican Party in the elections for the Lower Chamber of the U.S. Congress.
By 9.50 Moscow time the Euro is at 1.4002 against closing session level of 1.4033 yesterday.
However activity at the currency market is likely to be low today – the results of the U.S. Federal Reserve two day meeting will become known tonight and it is assumed that the regulator will announce expansion of the government bonds redemption program which will support economy and lead the USD downward. Worth noting that partly this measure has already been incorporated in the current prices.
In addition the U.S. statistics will be released this afternoon which will also affect trading.
Presumably the pair EUR/USD will be in the channel of 1.3900-1.4080 at the trading session on Wednesday.
