The USD and JPY went strongly bullish in yesterday's early morning hours, no doubt a remnant of the dire reports from the global economy faced last week. The sudden boost in risk aversion at the opening of London's market yesterday morning sounded a bell for the return of the safe-havens. However, upon the opening of US markets, economic data spurred investors back to life with positive results which made the safe-haven charge appear pre-mature. The question now is whether the gains recovered by the EUR and GBP can continue today.
The Dollar... ( read more )
Posts Tagged with ‘ism’
May 5, 2008 - ISM Non-Manufacturing on Tap
Last Friday, the greenback continued gaining all across the board against the major currencies. The EUR/USD pair fell for the first time in six weeks below the psychological level of 1.5400, closing the trading session at the rate of 1.5380. The USD continued its bullish momentum mainly as a result of favorable economic data release during the day. By midday, the Employment data for April was released and gave traders many good reasons to buy dollars. With the figures released, the USD sharply gained 70pts against the EUR and 82pts against the ... ( read more )