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What news just caused the EUR to jump?!

  • Post #1
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  • First Post: Edited 2:41pm Jun 29, 2006 2:33pm | Edited 2:41pm
Wow, I go upstairs to fix a sandwich and come back down and the USD has jumped almost 100 pips!! What news just came out?

Edit: Correction from the Eur to the USD
I'm guessing it was the rate hike by the fed.
Oh, oops For some reason I was thinking this was Friday so I didn't see the news.
Quoting FXtoday
The Fed has increased interest rates by 0.25% to 5.25%. The statement with the decision stated that there were still inflation risks, but pointed to weaker growth and stated that any additional increases would be dependent on the outlook. The statement is weaker than expected and is negative for the US currency as it suggests the Fed would rather hold rates in August. The Euro needs to push above 1.2640 to make a decisive move towards 1.27.
http://www.forexfactory.com/forexfor...ead.php?t=6174


Can we expect some price movement within the last hour before today's close.

Lou
anyone?
  • Post #7
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  • Last Post: Jun 30, 2006 4:08pm Jun 30, 2006 4:08pm
I took the long ride up with GBP/USD, and I just closed my trade. I'll be waiting for a correction, before going long again. I think GBP/USD will cross the previous highs of 1.9000. Right now, I'm extremely tempted to max out my leverage, and make some serious cash, but it could be the worst decision of my trading career, so I'll refrain from doing that. Just look at the numbers that come out next week, and you should do just fine.
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