Monday, October 19, 2009

Will the U.S. Dollar Hold Its Gains?

Forex trading forecast for the greenback

For the dollar, it may not be that bad. And it may not even mean that things are going that badly for the labor market. GFT's Kathy Lien looks, in FX360, at what the latest payroll numbers may mean for the U.S. dollar in currency trading:One of the questions being asked right now has to do with whether or not the U.S. dollar can hold its recent gains. Many are wondering what today's unemployment rate report -- showing 9.7% unemployment -- means for the forex trading forecast.

However there is no question that the trajectory of payrolls has improved, which has brought relief to the currency market and helped the dollar recovered its gains after traders realized that the report was not that bad. With the initial post payroll volatility settling and the holiday weekend looming, the dollar should hold onto its gains.

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