The low volume of trading yesterday affected the Forex market and there are reasons that force the pairs to trade sluggishly.
EUR, CHF and GDP showed little gain during the Asian session and Forex dropped throughout the European and US trading hours.
On the same side, the commodity currency pairs- AUD and CAD along with the JPY moved flat on the Forex window.
Investors and traders arranged for the AUD interest rate decisions that is possibly leave a remarkable spot on the market then whatever be the trading consequences.
Investors will be concentrating to the RBAâ€˜s decision regarding the changes in the interest rates. Financial analysts expect an increase in rate, to support the declining economic condition. The full picture will become clearer once the decisions of the RBA will be in air.
However, seeing the present market condition there are possibilities that the fallouts will keep the global market covered up for longer duration.
This is the time when the strong and forex trading service providers can give good competition in the market by managing to keep the trust of the customers in the currency trading by suggesting good trade moves to place at the right moment.
GBP/USD trading at 1.6450 on Monday, trading amid the 20 to 50 day moving averages and finally the pair has failed to cross this level because of the light trade movement of the market. It is likely to break out at the level of 1.6600 ad expected to confirm at this level.
One such flawless trading service that retained its integrity and positive approach of trading amid the deteriorating financial condition is Finexo. With all these briefs from the market, the key idea for trading these days is to make positions by considering the overall situation of the global economy and keep an eye on the important announcements of the big financial institutions.