Is The Crisis Over? Forex Traders Beware

September 8th, 2009 | educational | forex educational

It seems everybody believed the worst world financial and economic crisis since the mythological Great Depression of 1930 has come to an end… for a while I aso believed what the so called experts, politicians and TV analysts were saying.

Yet, there are some clouds that seem to affect this optimistic weather financial forecast, among them new data released in the US related to montages and national debt…

forex investors around the world are also hearing rumors coming from prestigious financial bodies, as the Federal Reserve Bank in the US and the Bank of England saying the recovery is not as immanent as we initially thought. It seems that important people are highly active behind the scenes trying to conceal a collapse of commercial real estate, consequent to the fall in property prices and lack of consumer spending and capital.

Once again, the onlıne forex investors are facing mixed kind of reality and contradictory signs.

On one hand many consecutive assertive and affirmative statements signing that the worst recession ever since the Great Depression is about to end and on the other hand ongoing data which reflects the continuation of the recession.

Some days ago, an article was published on the Wall Street Journal informing about commercial mortgage on 700$ Billion dollar, that is actually backing large part of the securities and US national debt.

What is in my opinion amazing on the present situation is that the times when financial appraising and analysis were considered as objective are GONE, no objectivity whatever on finances.

About twenty years ago I had some courses on the Philosophy and Science were I was taught that there is not such notion as objectivity in Science and that the individual always reflects is personal notions and views in his analysis… Seems to me the forex market today is entitled to get a philosophy course of its own: Objective analysis in forex – Reality or Fiction.

some forex market news:

Friday saw the US Dollar mostly down after a mixed Non-Farm Payroll report showed that the US economy is still shedding jobs at a record pace. The US economy cut 216,000 jobs in August, which brought the unemployment rate to 9.7 percent according to the US Labor Department. It was widely expected that the that the unemployment level would drop by 225,000 which would mean a 9.5 percent unemployment level.

At the close, the US Dollar was down .4% to the Euro to 1.4296, up .4% to the Japanese Yen to 92.98, down .45% to the British Pound to 1.639, down 1.24% to the Australian Dollar to .8505 and down .2% to the Swiss Franc to 1.0603.

The Canadian Dollar rallied across the board after an unexpected rise in employment in Canada in August. The Canadian Government announced that for te first time in 2009 the employment rate had not lost any jobs. The performance of the CAD was also helped by a rise in commodity prices, specifically Gold, which is nearing $100 USD and ounce.

At the close the Canadian Dollar was up 1.18% to the US Dollar to 1.0889, up .9% to the Euro to 1.5571 and down .03% to the Australian Dollar to .9263 as the Down Under Dollar outperformed its commodity counterpart for top performance.

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