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Day: February 28, 2008
February 282008
EUR/USD at 1.5179 After GDP News Release
GDP release today in U.S. pushed dollar down after yesterdays macroeconomic statistics and allowed EUR/USD to reach a new record at 1.5179. Meanwhile GBP/USD decelerated its pace a little and turned to a less bullish trend today. The preliminary GDP data for the third quarter showed 0.6% growth the same as it was in the advance release a month ago, but below the expected 0.8%. Thats quite a poor […]
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February 282008
Dollar Still Near Record Lows
The dollar is still trading near its record low value against the euro today, but it has managed to recover somewhat from the yesterdays fall after the oil prices corrected on the increased oil inventories in U.S. Fed chairman Ben Bernankes testimony to the U.S. congress showed that there are possibilities for the housing and employment markets to weaken even further and that the risks for the financial markets and banking sector still remain high. This testimony added […]
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