New York, NY (PRWEB) July 19, 2011
With the exception of strong commodity currencies in Canada and Australia, the outlook for most major currencies in the third quarter of 2011 is bleak.
Continued low interest rates, declining consumer confidence, and a poor employment outlook will mean a rocky ride for the U.S. dollar in Q3. Yet the European debt crisis will overshadow these and other global economic concerns, according to analysis compiled in the OANDA US Dollar Strength Table for Q3.
The debt problems facing several European countries (notably Greece and Italy) will continue to shake the markets for the three months ending in September, and drive down euro exchange rates.
About OANDA’s U.S. Dollar strength table:
The OANDA quarterly USD strength table is intended to provide a medium-range outlook on the key factors affecting future directions for the U.S. dollar. It highlights the five economic factors that tend to have the greatest impact on exchange rates for the major currencies: interest rates, employment outlook, economic growth expectations, trade balance, and central bank / government actions.
Opinions are provided by OANDA currency analyst Scott Boyd, who writes about the factors affecting global currency prices for the company’s forex blog, MarketPulseFX. His forward-looking opinions are not necessarily shared by OANDA, its officers, or directors, nor are they meant to be investment advice, recommendations, or trading strategies.
OANDA started in 1995 as the first online provider of comprehensive currency exchange information. Since then, OANDA Rate® data has become the benchmark for corporations, tax authorities, auditing firms, and central banks. In 2001 OANDA launched fxTrade, the first fully automated online forex trading platform.
OANDA Corporation is a registered Retail Foreign Exchange Dealer (RFED) with the U.S. Commodity Futures Trading Commission (CFTC) and is a Forex Dealer Member (FDM) of the U.S. National Futures Association (NFA). OANDA Corporation owns the following subsidiaries: OANDA Asia Pacific Pte Ltd, regulated by the Monetary Authority of Singapore; OANDA Middle East Corporation Ltd., with a license from the Dubai Financial Services Authority (DFSA); OANDA Canada, regulated by the Investment Industry Regulatory Organization of Canada (IIROC); and OANDA Europe Limited, with a license from the Financial Services Authority (FSA) of the U.K.