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Here is a collection of Forex News Updates, Other Forex Trading System Resources and Information.Rumors abounded last week that Fed Chairman Ben Bernanke was losing political support for re-confirmation and there was some speculation that he might not get the “nod’.  Combine that with president Obama’s populist rhetoric and the markets  sold off because of


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Rumors abounded last week that Fed Chairman Ben Bernanke was losing political support for re-confirmation and there was some speculation that he might not get the “nod’.  Combine that with president Obama’s populist rhetoric and the markets  sold off because of the uncertainty.  The one thing I cannot stress enough is that THE MARKETS HATE UNCERTAINTY!

Realizing the consequence of their actions, politicos this weekend conceded that Bernanke will most likely be re-confirmed so it was game on for the markets again.  As a result, the theme so far this morning is mild risk-taking.  The Aussie (AUD) and Kiwi (NZD) are up, the Japanese yen (JPY) is down.

The yen drop also comes as a result that “people familiar with the situation” claim that the Bank of Japan will expand bond buying to keep the yen from strengthening too much and encourage weakness to help exports.

The British pound (GBP) is also showing strength this morning, as the UK GDP report is expected to show an expansion of .4% in Q4 vs. a previous contraction of .2% in Q3.   The pound is also near 5-month highs against the Euro (EUR) which is currently under pressure from problems with the PIIGS countries, particularly Greece.

Also on tap this week is GDP reports from the UK on Tuesday and Annualized GDP from the US on Friday.

Consumer Price Index (CPI) reports from the Euro Zone and Australia on Wednesday and Japan on Thursday.

Interest rate decisions from Japan on Tuesday and the US and New Zealand on Wednesday.

That plus a smattering of consumer confidence numbers from various regions plus the US and President Obama’s State of the Union address should make for a volatile week!

When trading markets that are expected to have a higher degree of volatility, it is important to stay nimble and not “get married” to a position.  Remember to cut your losers short and let your winners run!

Happy trading!

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