Daily Forex Tips - June 5th 2009

Source: www.forextvblog.com

8:30 GMT- GBP PPI Input * This indicator reflects the change in the price of raw materials purchased by manufacturers. * This data release is forecasted to improve from the previous month’s result. * The results typically create volatile market conditions. * Higher than forecasted results could send the GBP/USD pair above the 1.6150 mark. 12:30 GMT- U.S Non-Farm Employment Change * This indicator reflects the change in the number of employed people during the previous month, excluding the US farming industry. *The indicator typically creates a volatile trading environment, affecting not only the USD crosses but also the value of Crude Oil and Gold. *Disappointing results could send the EUR/USD pair above the 1.4400 resistance level. *Traders may find good opportunities to enter the market following this vital and probably the most important announcement of the month. Tips on Crude Oil * Crude Oil rose significantly yesterday as the price is currently trading around the $69 level. * The release of the U.S. Unemployment Rate data on Friday may put some strain on Oil prices as the rate is expected to rise. *However, as optimism seems to be the leading force in the market, rising equities and a weakening Dollar may prove to have a greater affect on Oil prices than the results of the unemployment indicator.


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