ForexLive Holds Roundtable for Forex Traders

NEW YORK, Nov. 18, 2010 /PRNewswire/ -- ForexLive, a market analysis forum for foreign exchange traders, investors and enthusiasts, held a roundtable, "Is the Dollar Doomed?" for forex traders with analysts Jamie Coleman, Sean Lee and Gerry Davies in New York on November 4.  To view the full discussion click here http://www.forexlive.com/vestivus.

Coleman, Lee and Davies discussed their outlook for the dollar and other currencies, particularly in light of the U.S. elections, quantitative easing by the Federal Reserve, the U.S. deficit and austerity measures in Europe.  Lee noted that Asia has little confidence in the dollar, although, according to Coleman, "we won't have the collapse that everyone is talking about."

"The market is myopic, typically focusing on one thing.  But it's always the thing that is unexpected which turns the market," Davies said.  

"The third rail of American politics is Social Security.  Adjustment will be needed to Social Security and Medicare to cut the deficit curve.  A shift to medium-term fiscal austerity will be a big short-term boost for the dollar," Coleman said.  "The goal of quantitative easing is to create a wealth effect and get the markets going to boost confidence and hiring, but it may have been premature."

Davies noted that, due to austerity measures, it's the "calm before the storm" in the U.K., with private sector jobs lost, cuts in government services and an increase in the Value Added Tax (VAT).  He expects quantitative easing to happen next year in the U.K., he said.

ForexLive, exclusively sponsored by FXDD, provides market analysis for foreign exchange traders, investors and enthusiasts.  Founded in 2008, ForexLive is led by a staff of market practitioners who bring years of experience and liveliness to their craft.  ForexLive offers news and analysis on a 24-hour basis, tailored to the needs of the retail forex trader.  Its mission is to flatten the learning curve and provide traders with a place to share ideas at any time.  For more information, please visit www.forexlive.com.

SOURCE ForexLive

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