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Day: February 20, 2008
February 202008
FOMC Minutes Show that Fed Worry
The release of the FOMC minutes for January 29/30 meeting today gave traders more insight about the Feds vision and strategy. Dollar started to lose its positions right after the release and shortly reversed its daily gain against euro. In the released document, members of the committee expressed a worry about the global slowdown of the advanced economies, current state of the housing, consumer and financial sectors. Long-term securities markets, according to minutes, are also experiencing the excess volatility: […]
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February 202008
Yuan on Record Rally Spree
Today was the fifth straight day when the Chinese yuan grew against the U.S. dollar and other major Forex currencies after the Peoples Bank of China introduced its new anti-inflation policy. During the China Foreign Exchange Trade System trading session today the Chinese yuan gained 0.1%, rising from 7.1580 to 7.1510 per 1 U.S. dollar. Since the beginning of 2008, USD/CNY lost […]
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February 202008
CPI Advances Moderately, Moves Dollar Up
CPI release for January along with some moderate data on housing lifted traders expectations and spurred some good growth of the U.S. dollar with both EUR/USD and GBP/USD losing about a half percent for the day. It may be a good sign for the dollar bulls eventually as it is almost definite now that the recession is either ending or is not going to happen at all. January CPI […]
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