 | Money In Motion: Currency Trading
Jobs & The Fed
The Euro has hit its highest level since July. But there are still some serious near-term hurdles, and the biggest is next week's all-important Fed rate decision. The Fed has rigorously defended its measures to prop up the economy. But with the Election just months away, many believe that next week's meeting could be the last chance for Bernanke and crew to act before November. So what will he do? And what will it mean for the dollar's next move? We'll tell you how our pros are setting up.
To Tap Or Not To Tap?
With oil creeping ever closer to [wards] $100, traders are beginning to wonder if the Obama administration will tap the SPR in hopes of tamping down the price of oil ahead of the election. Between signs of an economic recovery, and the constant threat of Iran, oil has risen some 25% since its lows back in late June. That has led to a big pain at the pump, but it has also given a boost to so-called commodity currencies. These are currencies whose value is closely tied to crude. So how likely is White House action, and when could it come? We'll talk to Citigroup's top ranked commodities strategist to get some answers.
Big Warning From Down Under
There is a warning sign brewing in the $4 trillion dollar currency markets. While stocks and the euro are in big-time rally mode, one currency pair that is a closely watched barometer of risk is falling fast: The Aussie. The Australian dollar is fast approaching parity with the U.S. dollar. Why does this matter? Because for the past couple years, the Aussie has been a great predictor of where stocks are going. So, do currency traders buy the rally?
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