usd

Yesterday, the USD weakened against the majors in the forex market .after the US Energy Department announced it plans to double the US oil reserve to1.5B barrels till 2027.
Oil prices reacted immediately boosting 4.7% to 55.04 in the New York Mercantile Exchange, what do you think about the trend?

it depends from todays news,...but trend is up, its consolidating from yesterdays rally...i think it could go to 57-59 before 46-48 in weeks to come...its still oversold on dailly chart, with strong support @ 50-51...hope this helps...

so...you think thats the reason the usd weakened? there are many many factors,fundamental and technical, that influence a currencies value. Maybe that was a tiny reason or maybe it wasn't. But if it was, it was just one of many, not The Reason.

no i dont think that was the reason,...the reason was pure fundamental,...the union speech by bush was the reason,...

remember before elction, the currency usually strengten, after the established government usually it weakenes,...speach of the union should indicate the second statement....