main events and their short term effects in sept?

[maitho]

what were the main events and activities in the forex market during the month of september and what are their short term effects on the USD/ CHF/ EURO/ Yen?

 

[Enivid]

The most important FX events of September were the following:

1. Swiss National Bank set the minimum level for EUR/CHF pair at 1.2, depreciating the Swiss franc significantly.
2. Bad news about Greece - pushed the euro down during the month.
3. Ben Bernanke told the markets that there will be no QE3 (quantitative easing) - all markets were sent downwards, except for the USD and JPY.
4. Good news about Greece - helped the euro to stay afloat for some time.

 

[maitho]

what is a quatitative easing and what about the g-7 and g-20 meetings aren't they important?

 

[Enivid]

Quantitative easing is a stimulus program by the US Federal Reserve. Under this program, Fed buys the bonds in the market, providing liquidity (extra money) to the participants and supporting their prices.

G7 and G20 meetings can be important, but G20 meeting that was held this September wasn't very important compared to other events.

 

[maitho]

why did they hold the G-7 and g-20 meetings and what was the outcome of the two meetings?

sorry if I am asking too many questions but I want to grasp correctly what has happened during sept.

 

[Enivid]

Both G7 and G20 rarely have much to do with the currencies - the European fiscal troubles is their main topic recently. And the actual influence of these meetings on the markets is minimal and is often limited only to the trading sessions when the meeting communique is released.