Forex Trading - Advice and Tips

The Dollar gained versus most majors as weak Personal Spending and stock declines continued to lower risk appetite. NASDAQ and Dow Jones fell by -2.50% and -2.51% accordingly. Crude dropped by -3.61% closing at 76.99$ a barrel and Gold (XAU) declined by -0.64% closing at 1039.70$ an ounce on stronger Dollar. Today, ISM Manufacturing PMI is expected with 53.1 versus 52.6 prior and Pending Home Sales are expected lower with 0.3% change versus 6.4% prior.

The Euro declined versus the Dollar after more declines in stocks led to risk aversion. German Retail Sales came out worse than expected with -0.5% drop versus 0.7% expected showing the recession isn\'t necessarily over. European Unemployment Rate came out 9.7% as expected. EUR/USD traded with a low of 1.4703 and with a high of 1.4858. Today, Final Manufacturing PMI is expected to remain unchanged with 50.7.