Archive for February, 2008
What Drove The US Dollar To A Record Low?
It has been a record breaking day in the financial markets with the US dollar falling to an all-time low against the Euro and crude oil futures closing at a record high. Although US Consumer confidence dropped to a 5 year low, that was not the primary catalyst for the…
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Forex Market Summary
U.S. Dollar Trading (USD) was battered across the board as reports showed that consumer confidence dropped in the month February 87.3 to 75.0, establishing its lowest level in five years. Consumers remain pessimistic that the world’s largest economy is destined to continue its slowing. The Dollar further suffered on dovish…
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Forex Exchange Morning Report
The New Zealand dollar eased back yesterday after reaching a new post-float high, but rebounded to set another high as the US dollar was hammered overnight. The NZD fell from 0.8150 to as low as 0.8070 after the RBNZ published its inflation expectations survey for Q1. The average forecast for…
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Bad U.S. Numbers Outweigh The Bad Numbers From Europe?
The home price index dropped far more than anticipated in Q4, in fact by the biggest drop in the index’s 20 year history. The US housing finance regulator OFHEO reported a Q4 drop of 1.3%, the 2nd consecutive drop in prices. Every state except Maine recorded lower prices.
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EUR/USD At All-Time High
The dollar fell sharply on Tuesday against other major currencies on falling US home prices and sinking consumer confidence to a 5-year low. The greenback extended its losses after Federal Reserve Vice Chairman Donald Kohn said credit-market woes and slower economic growth pose a ‘greater threat’ than inflation.
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New York Session Recap
The greenback was crushed today, falling to a new all-time low against the European single currency (EUR) and dropping against all other major currencies. EUR/USD exceeded the prior all-time high at 1.4968 and went on to make a marginal new high around 1.4985/90, just shy of the psychologically pivotal 1.5000…
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US Dollar Falls to Record Lows Against Euro
The US dollar fell to a record low as fresh economic data unveiled growing inflationary pressures for the slowing economy, with the Fed adding to the frustration as Vice-Chairman Kohn stated that he does not ?expect the recent elevated inflation rates to persist,” and went further to say that ?the…
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Global Economy Key To Dollar Recovery Hopes
The 1.50 level for the Euro against the dollar has been a key market target throughout the past three months and it is now in very close focus again on Tuesday with the dollar at fresh record lows. Confidence in the US economy has remained very weak with a series…
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Will Bernanke’s Testimony Spark a Dollar Rally on Wednesday?
The dour sentiment on the US economy will not receive much of a boost on Wednesday, as durable goods orders for the month of January are expected to plunge 4.0 percent. A bulk of the decline will likely be led by transportation, as Boeing reported a slump in demand and…
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Dismal Data Sends USD to Record Lows
Traders sold the greenback after key economic data reinforced the current dilemma facing the US Federal Reserve. The dollar slipped past the 1.49-level against the euro and relinquished the 0.93-mark versus the Aussie. Persistent fears of the faltering US economy continue to plague the currency with the dollar hitting a…
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