Forex Trading - Advice and Tips

The Dollar fell against most of its counterparts after better than expected GDP increased investor\'s appetite for risk. The Gross Domestic Product was released at 3.5% vs. the 3.1% expected. Initial Jobless Claims came out slightly worse than expected at 530K. After 4 straight days of drops Wall Street headed for a steep rise after the GDP showed that the U.S. economy expanded at a 3.5% annual pace in the 3Q and fueled stocks. Dow Jones jumped by 2.05% to 9,963 and the NASDAQ rose by 1.84%. Crude oil jumped by 3.19% closing at 79.93$ a barrel as the surprising US economy expansion signaled for a potential increase in oil demand. Gold (XAU) trades at $1,047. Today, Personal Spending is expected at -0.4% vs. 1.3% previously and Employment Cost Index is expected unchanged at 0.4%.

The Euro continued towards its fourth monthly rise against the Dollar as the U.S.’s return to growth renewed optimism a global recovery will quicken, aiding demand for higher-yielding assets. German Unemployment Change came out better than expected at -26K vs. expected 15K. European markets rose more than 1%. Commodities recovered from previous losses and posted important gains. Overall, EUR/USD traded with a low of 1.4682 and with a high of 1.4857. Today, European CPI Index is expected at -0.1% vs. -0.3% previously.