Forex Trading - Advice and Tips

The Dollar dropped versus the other after Fed Chairman Bernanke said interest rates would remain low to spur growth. Retail Sales came out at 1.4% better than 1% forecast but Core Retail Sales came out 0.2% worse than 0.4% forecast. NASDAQ and Dow Jones reached new 13 month highs with 1.38% and 1.45% gains respectively after Bernanke\'s speech. Crude gained by 3.3% closing at 78.87$ a barrel and Gold (XAU) jumped by 2.02% closing at 1140.4$ an ounce. Today, PPI is expected stronger with 0.6% versus -0.6% prior. TIC Long-Term Purchases are expected with 27.3B versus 28.6B prior. Industrial Production is expected with 0.4% versus 0.7% prior. FOMC Member Lacker will speak about his economic outlook at the State House Appropriation Committee in Richmond.

The Euro gained versus the Dollar after Fed Chairman Bernanke commented the interest rates will remain low, spurring Risk Appetite. European CPI and Core CPI came out as expected with -0.1% and 1.2% respectively. EUR/USD traded with a low of 1.4880 and with a high of 1.5014. Today, European Trade Balance is expected with -0.9B versus 1B.