• May 23, 2024

Consumer Confidence at All-Time Low

The January plunge in consumer confidence to touch an all-time low of 37.7 sparked a rally for the USD in online trading, although GFT Director of Currency Research Kathy Lien called the trend a “reflection of more panic selling and not optimism about US economy.” She cautioned that confidence may not be restored until job…

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A strong week for USD

Based on the price movement of EUR/USD over the past week, one could say that it’s been a strong one for the U.S. dollar. From a high of $1.47669 on September 25, EUR/USD has fallen to $1.40082 as of this afternoon. The past seven days of online forex trading have even featured the euro’s greatest…

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A “buying opportunity” for EUR/USD?

The dollar experienced a temporary surge against the euro early today as online forex traders anticipated an announcement that Congress had reached an agreement on the proposed bailout of Wall Street. EUR/USD had moved as low as $1.45599 before Sen. Christopher Dodd, chairman of the U.S. Senate Banking Committee, announced this afternoon that a “fundamental…

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EUR/USD down over 2.1%

In today’s forex trading, the U.S. dollar suffered one of its biggest ever one-day losses against the euro on fears that the $700-billion bailout plan proposed by Treasury Secretary Henry Paulson will further exacerbate the growing federal budget deficit. EUR/USD stood at $1.4794 as of 6:41 EST, up from $1.4466 yesterday. Percentage-wise, the dollar was…

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Mood Swings for EUR/USD

This has officially been the most volatile week for the global currency trading market since the Asian financial crisis of the late ‘90s. Interday trading of EUR/USD went through significant swings as the dollar gained ground on word that the U.S. Federal Reserve had chosen not to change interest rates, only to plummet against the…

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Euro over a barrel?

EUR/USD dropped to its lowest level in seven months during today’s online forex trading on news that the European economy had contracted by 0.2% in the second quarter. The declining price of crude oil has bolstered the dollar in recent days, helping the greenback to extend the gains it made against the euro in August.…

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