After an extended vacation, members of the Forex Robot team have returned to supply you with daily updates about current events that impact global economic activity and volatile foreign exchange prices. Over the past month, we have seen high trading volume in the current exchange market in addition to standard stock exchanges. Federal Reserve Chairman Ben Bernanke recently delivered a long and somber speech about the poor state of the United States economy, and the implications of poor fiscal policy, including rising debt. He made it clear to fiscal policy makers that any attempt to balance the budget should be done in a way to avoid the removal of too many federal and state jobs. He indicated that the cancellation of too many government jobs will quickly cause the economic recovery to sputter.
He also addressed the important topic of inflation in the United States. His particular opinions are sharply debated among many economists, investors, and even the Forex Robot team. He is of the belief the United States is experiencing "transitory inflation", which he believes is simply the temporary result of global increases in food and commodity prices. He failed to discuss the impact of a weakening dollar against our economic competitors and friends, such as the EU, China, Canada, and other Asian countries. Many experts say that prices at Wal-Mart stores are one of the best indicators of inflationary activity in the United States. No so long ago, Wal-Mart warned its customers to expect large and unprecedented price hikes as a result of global price increases. With serious inflation, a double dip housing market, and a recent increase in unemployment, the United States appears to be stuck in a slow economic rut for years to come.
Expect to see continued strengthening and weakening of the U.S. dollar, especially against the Euro. Many analysts agree that the Euro-Zone's currency valuation is overvalued, especially when you consider the many countries in that organization who require economic bailouts for sustainability. Additionally, the Greenback (U.S. dollar) is the only currency where foreign investors still feel most confident in times of geopolitical uncertainty.
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