Predictions Of Forex Trading

FOMC minutes confirms a “close call” and a projected slow down in economic growth for 2008

CURRENCY TRADING SUMMARY – 21 NOVEMBER 2007 (00:30GMT)

U.S. Dollar Trading (USD) eased against a basket of majors and traded at a record low versus the Euro and Swiss Franc on concerns that ongoing credit losses may prompt the Federal Reserve to lower interest rates again this year. Surprisingly the FOMC minutes of the October 31 meeting was contradictory to the view describing the most recent rate cut a “close call” whilst the reduction had provided assurance against “an unexpectedly severe weakening in economic activity”. Yet the minutes did confirm that GDP for 2008 was expected to slow. In U.S. share markets the NASDAQ was down +3.43 (0.13%) Dow Jones 51.70 (0.4%). Crude oil prices finished the session up by US$0.44 a barrel to US$98.47


In my last post, I predicted this record low!
Read about it below...