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Ralph Shell
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Ralph Shell has a rural midwest agricultural background. He graduated from a small Ohio liberal arts college. His graduate studies were in economics and history at Duke University. Shell has ten years experience trading cash commodities in domestic and export markets. He is also a former... More
My company:
Project Triumph LTD
My blog:
Forex Brokers
  • GBP/USD Comments and Analysis 0 comments
    Aug 14, 2009 1:05 PM | about stocks: FXA, FXB, FXC, FXE, FXF, FXY, UDN
    The pound continues it's range bound sideways movement trading around the 1.6500 level.  In the US, the University of Michigan consumer sentiment came in a bearish surprise, and is given as a reason that the Dow is down over 100 points. The pound has been responsive to equities, and if the US stocks are a real tank shot today, there may be some late selling of the pound in anticipation of a lower Monday opening.

    The trade today seems to be lackluster.  Combine this with the pending weekend, and it is hard to come up with a trade today.  Yesterday the open interest at the CME futures was down 2,155 contracts, so traders are seeking the sidelines in this pair.

    Stocks: FXA, FXB, FXC, FXE, FXF, FXY, UDN
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