It’s my the forex trading hour although its bit late but hopefully if one keep these fundamentals in it will much easier to do trade in the upcoming sessions.
1-Libyan leader Muammar Gaddafi has publicly challenged protesters trying to end his rule, promising to stay in the country “until the end. He straight forwardly rule out the possibility to left from Government
2-New Zealand was rocked by an earthquake that killed at least 65 people and trapped in offices and buildings have collapsed.
3-The violence in North Africa has begun to affect oil production on Monday, when the international oil companies operating in Libya to halt flight operations and staff to improve safety at the heart of clashes between supporters and opponents is Colonel Muammar Gaddafi. Same had happened in Bahrain. In the result of that the Brent crude oil raised up to $105.
4-The U.S. dollar fell on Tuesday, pulling back the following comments on the official European website, which has raised the prospect of driving interest rates of the European Central Bank.
5-U.S. consumer confidence rose in February to its highest level in three years as Americans grew more optimistic about their incomes and the economy.
The Conference Board index of sentiment rose to 70.4, its highest since February 2008, from 64.8 the previous month, this figures from the private research group based in New York showed today. Economists expected the count would be unchanged at 65.5, according to the median forecast by the virtue of the survey.
6-Retail sales in Canada fell 0.2 percent in December after climbing a revised 1.5 percent the previous month’s average expectations of economists’ 0.0 percent. Meanwhile, retail sales less autos of 0.6 percent during the same period, which was in line have been forecast. Indeed, reduced turnover today marks the first contraction since May 2010. Five of the eleven components pushed lower in December as consumers reduce spending mid-record levels of debt and uncertain economic prospects in the region. Such as weak retail sales do not bode well for economic activity, should warn operators of a stronger Canadian dollar in the medium term.
7- But on other hand as the oil prices is rising due to the Arab countries crises. Then the increase in the of Oil means that improvement in Canadian Economic condition as Canada is one of the leading oil exporter to the world. So keep an eye over the Canadian $ as well.
8-Up coming News Today is the meeting minutes of UK and the direction of GBP will be reconfirm by the comments hawkish comments means that GBP will up and in case of positive point of view the GBP will down against the major currancies
So my dear forex trading colleagues I hope my today forex trading hour will be helpful in trade today.