Forex Markets Need Bullish Economic Data to Sustain Rally

This week’s action in the Forex markets has been dominated by choppy, two-sided trading.  Traders seem to be looking for improved risk appetite but can’t find the catalyst that will propel the markets to new highs for the year.

Yesterday’s strong rally in the crude oil market and the spillover buying in the global equity markets has laid a good foundation for a rally in the risk sensitive currencies, but volume has been light and traders non-committal which could be an indication that traders are waiting for more solid economic evidence that an economic recovery is taking place and that financial markets are stabilizing.

Read full article at ForexHound.com