The USD completed yesterday's trading session with mixed results versus its major rival currencies. During the first half of the day, the U.S. dollar eased versus the euro and the yen after government reports showed that Retail Sales fell 0.1% in July, below the 0.5% expected by analysts. The greenback retreated from earlier gains after concerns over gasoline supply following a U.S. inventory report showed that crude stockpiles and refined product supplies fell last week, declining to its lowest levels since last 10 years.
Following this rep... ( read more )
Posts Tagged with ‘curency trading’
August 8, 2008 - The Greenback Soars
The USD underwent a bullish trading session yesterday, as it appreciated against all of its major currency rivals. The dollar rose 0.5% and closed under 1.5320 versus the euro in yesterday's trading session. Also, the USD saw steady gains against the GBP and CHF. The greenback saw significant bullishness yesterday as the Pending Home Sales beat our forecasts which showed an expected rise of 1%. Instead, the indicator rose 5.3% and added to another day of surprising US economic data supporting the USD. The indicator was also the first real sign ... ( read more )
August 5, 2008 - US Interest Rate On Tap
Yesterday the greenback mainly saw rising trends against its major currency counterparts; however it failed to appreciate against the EUR. The GBP lost about 150 pips against the USD, as the pair fell to the level of 1.9599.
The USD's rally was much supported by both positive data arriving from the U.S economy and plummeting Oil prices that fell beneath $120 a barrel, making it a three month low. The Core Personal Consumption Expenditures Price Index, which measures the change in the price of goods and services purchased by consumers, exclud... ( read more )