Ending the week in retreat - Forex News by FX Leaders

Ending the week in retreat

Posted Friday, April 8, 2016 by
Skerdian Meta • 1 min read

The US Dollar was enjoying some good demand during the first part pf the day. EUR/USD fell to 1.1350 while USD/JPY reached 109.10. But the market sentiment reversed and turned bearish for the Buck. The wholesale inventories might have had a say in this as well. Inventories came out negative which is good because it means that the companies will be willing to spend and buy stock and supplies now but the lower inventories will also knock off a few points in the GDP numbers for the Q1. So the USD is heading towards the end of the week with a heavy feeling.

AUD/USD has jumped more than 50 pips after missing our take profit target by just 1 mere pip

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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