[caption id="attachment_1804" align="alignright" width="293" caption="US GDP"][/caption]The surprise drop in New Home Sales in the United States yesterday has resulted in a sudden buy-up in USD as investors flock to safe-havens. With a market that appears to be lacking a clear direction recently, major reports such as the New Home Sales report yesterday and today's Advanced GDP data become that much more important to watch as more investors await their release before trading.
The US Dollar extended gains against the EUR after a report showe... ( read more )
Posts Tagged with ‘gdp’
January 30, 2009 - the USD Goes Up Ahead of Advance GDP Release
The USD may further extend its gains against the EUR today; on speculation that growing evidence of a global slowdown will increase the appeal of the U.S currency to traders as a safe-haven. The Dollar closed at $1.2889 per EUR from $1.3120, rising over 230 pips, the biggest gain in three weeks. The Dollar was broadly supported on Thursday as risk aversion came to the fore and optimism rose over the latest U.S. monetary and fiscal stimulus measures, which pushed the U.S currency higher.
The greenback also advanced after the Federal Reserve ... ( read more )
October 31, 2008 - GDP Figures take the USD Up
Big moves were seen in the Dollar yesterday due to better then expected U.S. GDP numbers. The USD gained more then 370 pips against the EUR as GDP dropped the largest percentage in 7 years. GDP contracted -0.3% in the 3rd quarter. The drop was largely contributed to U.S. consumers who cut back in spending. Consumer spending makes up roughly 70% of GDP.
Traders took the better then expected GDP numbers as a positive sign that the U.S. economy may prove more resilient in the face of the economic slowdown. GDP was forecasted to drop -0.5%, but... ( read more )
August 28, 2008 - US GDP might Take the USD Down
The greenback saw mixed results versus its rival counterparts during yesterday's trading session. The USD initially retreated from recent highs against a basket of rival currencies caused mainly by a rise in Oil prices, as well as another round of concerns over the U.S. healthcare and banking system. The USD pared losses after a report showed that US Durable Goods Orders for July rose by 1.3% causing the USD climb against its counterparts immediately after the results were published. However, despite the positive release the USD continued its d... ( read more )
May 13, 2008 - US Calendar Packed today
The USD lost steam from last week's strengthening vs. most of the major currencies as investors continued to feed their risk appetite, leading the higher-yielding commodity currencies higher. The greenback also weakened amid renewed concerns that the Federal Reserve could still have to cut Interest Rates to boost growth. As a result, the USD dropped 0.2% on the day at 1.5513 vs. the EUR having earlier hiked above the 1.54 mark.
Yesterday's speech by Chicago Fed President Evans lowered the growth prospects for the U.S. economy. In his speech ... ( read more )