Forex Gump

Ever heard of the saying, “Birds of the same feather flock together”? Well, it turns out that it isn’t exactly true in Forex jungle. Because hawks, doves, and everything else in between flocked together this week, giving us on a wild ride on the charts!

Earlier this week, the Fed announced that it decided to expand its quantitative easing program by 600 billion USD. This program hopes to keep the U.S. economy on track to recovery and strengthen the pace of growth.

In the Fed’s statement yesterday, it announced that the second stage of its quantitative easing program will involve the buying of 600 billion USD of Treasuries evenly divided over 8 months ending July 2011.

Friends, Romans, pipfolk, lend me your ears! I bring you a preview of October’s non-farm payrolls report. Won’t you hear what I have to say?

I guess they really do have everything backwards in the Land Down Under, eh? How come, you ask? Well, RBA Governor Glenn Stevens and his mates put on their Mountaineer costumers and decided to hike interest rates!

While everyone was focused on the Fed’s interest rate decision coming out on Wednesday, they may have missed something that happened elsewhere… Open up your USD/JPY chart to see for yourself what I am talking about!

Doing some weekend homework and preparing for the week ahead? Good for you! Here are three U.S. economic reports that I think you ought to pay attention to this coming week.

OMG! The dollar rallying?!? Hah, this is something new! Earlier this week, Mr. Greenback was seen with a huge grin on its face as it bounced off its lows against other major currencies. Was this the work of profit-taking? Or was it caused by something else?

After pushing its interest rates to the boundaries at less than .10% last month, the Bank of Japan recently revealed new tricks up its sleeves to boost the Japanese economy. Check out the breakdown of this bag o ‘tricks!

Did the U.S. economy step on the gas and accelerate its economic growth for the third quarter? The upcoming GDP report could be a “make or break” situation for the U.S. dollar, so you better read up!