The U.S. Dollar weakened during yesterday's trading session, correcting the sharp gains against the EUR and JPY seen earlier this week, as steep job losses in the private sector rekindled fears of a prolonged U.S. recession. The USD pushed back from nearly one-month highs against the EUR and five-week peaks versus the Yen. Investors appear to be locking in gains, including central bank EUR buying at lower levels for reserve management purposes.
The Automatic Data Processing (ADP) organization published its Non-Farm Employment Change forecast... ( read more )
Archive for January, 2009
January 7, 2009 - Obama’s Stimulus Plan Might Push the Greenback Up
The U.S. currency has recently advanced versus 14 of its 16 most actively traded counterparts and may extend its near-term gains; even further especially against the EUR which appears to be quite vulnerable. The Dollar rose yesterday to 93.60 Yen from 93.44 Yen, and against the EUR it raised to 1.3504, the highest level since December 15.
The greenback advanced after U.S. President-elect Barack Obama said he favors an economic package of about $775 billion. With this planned U.S. stimulus package investors are betting that this would help th... ( read more )
January 5, 2009 - USD Appreciates; All Eyes on This Week’s Nonfarm D...
After a harsh couple of weeks, the U.S. Dollar now appears poised to regain some lost ground against its primary currency counterparts. The Dollar had risen to as high as 1.4660 versus the EUR just two weeks ago. Now it seems the greenback has begun its ascent away from these doldrums. As of last Friday, the USD had risen to as high as 1.3850 against the EUR and continued to float near that mark during today's early trading hours.
Against the Yen, the Dollar also began to march upward as it climbed from 90.00 to 92.00 these last few days, ma... ( read more )