Currencies are the ever-changing entity of the market that keeps the trend on roller coaster

In forex market, until there are some official holidays or it’s a weekend the Currencies always keep on moving one or other side. This movement of the currencies is the life of the Forex Trading platform.

The price action of various currencies and their updates are displaying the changes of the market as sown below:

USD- Performing well with higher trend movement, rise in home sales by 7.4%, Q3 GDP revision is more than the expectation

EUR- Poor performance with low trends, Decline in German consumer confidence, Greece debt ratingdropped as indicated by Moody’s downgrade

GBP- Yet struggling to come out of the lower trend movement, expectation of rising amendment in UK Q3 GDP crashed out as GDP is smaller

JPY- BOJ struggling to tackle the deflationary condition, trends are lower down, BOJ conveyed that government is well prepared and set the goals for inflation

cad&AUD- CAD trading higher, AUD trade lowered down, Australia’s LEI faded out while GDP in Canada is expected to rise

Let’s have a quick look at the Forex updates of the USD and GBP trading position at the market. As USD rebounds back at satisfactory level and GBP trade crashed out at the market due to 0.2% decline in third quarter GDP. Right now, USD/GBP is test trading under two hundred-day Moving Average Support.

The USD experiencing slight relaxing trends as it s moving higher in opposition to the major currency pairs as per the Tuesday’s Forex session. USD is moving ahead to its highest level from last September as compared to the EUR trade level of 1.4216 and its doing well as compared to GBP trading at 1.5920.

The data releases displaying the reports regarding the US third quarter GDP, Home sales reports of

October and existing home-sales reports of November month.

Third quarter growth rate of US trembled down as the GDP rate is declined to 2.2% in opposite to the preceding GDP rate of 2.8%.

The slow growth rate crashed the US expectation but there is still a ray of hope amid such negative data that is renowned home sales report that showed impressively good rise of around 7.4%.

It is the condition with the GBP as well because of the disappointing UK GDP the GBP dropped down to its two-month low in front of USD and reached to 1.5920 trade level.

However, the existing account deficit picked up by 4.703 billion GBP in third quarter as compared to the previous account deficit of around 11.42 billion GBP.

All these figures are just signifying that the UK Economy needs to strive hard in the coming weeks to exit out of this hovering situation of the market to stand firmly against the major currency pairs.