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 )
Posts Tagged with ‘gdp’
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 )
April 25, 2008 - The Greenback Pushes Up
Yesterday the greenback underwent an extremely bullish momentum, ascending against its major currency rivals. The USD undertook a dominant bullish trend against the EUR, beginning the trading day with the rate of 1.5876, and rising up to 1.5639. The USD also made dominant gains vs. the GBP, the JPY and the CHF.
Some favorable data arrived yesterday for the Dollar. The first great news came from the Core Durable Goods Orders. The survey was expected to be much better than last month's result which was a negative 2.1%. Analysts expected a turn... ( read more )