FOREX New York Session Video August 15, 2007

At the open of the New York session, the major currency pairs had already reached pivot levels normally considered profit targets. US news, including the high-profile CPI release, met expectations and failed to provide further inspiration to the market. Only a unique event – conflicting reports on the addition of liquidity to the markets by the Federal Reserve – provided volatility, but in the form of fast exaggerated moves. Capital preservation prevailed for most conservative traders.