Forex Broker----The disappointing results of several US heavyweight companies, as well as the fatigue consumers’ confidence index, worry the forex market against US economic recovery. Last Friday (July 16th), US Stocks slumped while the euro, the Australian
dollar, and other risk currencies retraced excessively. This week, forex investors will focus on the semi-annual economic report by Federal Reserve Chairman Ben Bernanke, and the stress test result of European banks.
Recently, forex investors have shifted their eyesight from European debt crisis to the fatigue US statistics. The euro benefited a lot from a substantial reduction in short positions. However, latest news stated that IMF and EU had suspended the assessment to Hungary’s financing plan, which brought some pressure to the euro. This means that Hungary will not attain its 25.1 billion dollar of surplus funds, while its sovereignty debt problem again became the focus on the forex market.
In addition, the stress test result of 20 European countries and 91European banks will be released this Friday.----Forex Broker: Ikonfx
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By Amanda