Dollar ends mix across the board on Tuesday waiting for the FED

Tue, Nov 3 2009, 22:35 GMT
http://www.fxstreet.com

FXstreet.com (Córdoba) – Greenback finished mix across the board but far from the highs. Stocks lost ground in Asia and Europe but recovered during the American session weakening the Dollar. Gold was the main winner of the session and rose to fresh record highs to $1,085 an ounce. Tomorrow the FED will announce its decision on monetary policy.

The ecPulse.com analysis team affirms: “The U.S stocks fluctuated throughout the closing session despite the plummet of the technology shares as the billionaire investor; Warren Buffet's Berkshire Hathaway Inc agreed on buying the Burlington Northern Santa Fe Corp for $26 billion, a deal is forecasted to close by the first quarter of 2010, whereas Stanley Work is planning to take over Black & Decker Corp.”

Against the Euro and the Swiss Franc, Greenback broke important levels but failed to confirm them. EUR/USD fell below 1.4680 but then rebounded and finished above 1.4700. USD/CHF rose above 1.0300 but failed to hold and now trades near 1.0260. Despite moving away from the highs, Greenback ended with gains.

Cable fell sharply across the board during the Asian and the European session but during the American recovered ground. GBP/USD bottomed at 1.6260 posting a one-week low. Later the pair rallied to the upside peaking at 1.6450. GBP/JPY fell to 146.30, two-week low but then recovered and rose back above 147.00.

Currencies tied to commodities ended mix. The rise in crude oil helped the Canadian Dollar that rose for the second day in a row against the Dollar. AUD/USD weakened and the rally in gold prices was not enough to erase early losses.

© 2009 “FXstreet.com. The Forex Market” All Rights Reserved. Every effort is made to provide accurate and complete information. However, with the thousands of documents available, often uploaded within short deadlines, we cannot guarantee that there will be no errors. Any republication or redistribution of FXstreet.com content is expressly prohibited without the prior written consent of FXstreet.com.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.