With a relatively negative news day from United States, which saw US factory orders in September dropping more than three times what was expected, the USD recorded one of its biggest one day slides against the EUR experienced since that currency's launch. The USD witnessed similar behavior against the Pound and Swiss Franc. The USD did see bullishness as well, as it gained around 100 points against the JPY and closed at 99.60.
The recent unusual price movements have been in response to new market conditions stemming from the global financia... ( read more )
Posts Tagged with ‘US Election’
November 4, 2008 - US Election Day Takes the USD Up
On the eve of the U.S. Presidential election, the Dollar posted large gains of 150 points to close at 1.2580 against the EUR, helping to erase some of its losses from late last week.
The Dollar continued to shrug off poor economic data stemming from the U.S. economy as the Institute for Supply Management released the Manufacturing Purchasing Manager survey. The survey came in below the forecasted value, displaying an overly pessimistic view of the U.S. manufacturing industry. This was one of the worst outlooks in the survey's history, addin... ( read more )