Day: September 6, 2007

Better than Average Data from U.S. Pushes EUR/USD Above 1.3700

This is a bit confusing situation for the financial markets, since the good economical data from United States should empower USD causing EUR/USD to fall, but today good data on labor productivity and ISM services index caused EUR/USD to soar. This can be explained by the increased optimism in the U.S. economy which causes more big traders to continue carry trading, during which USD is in a downtrend. U.S. crude […]