The World Economic Forum

The recent decline in stock oil prices caused currency markets to react sharply limiting Forex investment opportunities available to investors. The gathering in Davos Switzerland of business and political leaders from around the world faces a forum dominated by a bleak global economy. The annual gathering which this year includes 40 heads of state and 35 central bankers and corporate heads will attempt to reach agreement addressing the worst financial crisis since the great depression of the 1930’

s.

Crisis Dominates Meeting

Normally the World Economic Forum is a celebration of capitalism, economic, and Forex opportunities but this year was different. This year the world’

s business and financial leaders must address a global economy in turmoil. At the opening session the leaders of Russia and China blamed the US for the global financial crisis and called for reform of the global financial system.

Criticism From China and Russia

Chinese Premier Wen Jiabao blames US banks for the crisis citing their “blind pursuit of profit” and “lack of self-discipline.” Many of those participating in online Forex trading are paying close attention to the Forum which is bound to affect Forex trading and markets. Russian head of state criticized the dependence on the US dollar as the world’

s reserve currency but his statements had little effect on the US dollar and the Forex opportunities it provides traders and investors.

Obama to Attend G20 Summit

Despite the criticisms it is thought that any attempt at reforming the global economic system will be dependent on the actions of the US which has the world’

s largest economy. The presence of the US government at the forum was thin and it is thought that when president Obama attends the G20 summit US plans for global economic reform will be revealed.

Uncertainty About US Policies

The lack of participation by the US has many Forex brokers wondering what future US monetary policy will be. This uncertainty has affected currency markets and reduced Forex opportunities for some traders and investors. News affecting currency markets has been fast and furious leaving those who engage in Forex online trading wondering what the US’

s next move will be.