Rochester, NY 8/18/2009 8:12:42 AM
PowerSharesQQQ Trust, Series 1 (ETF) QQQQ , Forex Wire: 'Bullish News Updates From Euro Zone Fades Into Close'
PowerSharesQQQ Trust, Series 1 (ETF)
The PowerShares QQQ Trust, Series 1 (ETF) QQQQ - out of the Euro Zone sent the EUR USD higher. Euro Zone GDP was greater than anticipated buoyed by surprise increases from Germany and France. This news broadcast spilled over to the other currencies as craving for risk returned to the market. The U.S. Dollar was weak versus all most important currencies today.
Precisely the Euro could still create a center of attention selling pressure. The current two-day rally has not taken out any significant tops to signal strong buying. The charts indicate that this market has completed a technical retracement.
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