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Day: April 30, 2008
April 302008
FOMC Reduces Rate, Hopes for Better
The Federal Reserve lowered the federal funds rate from 2.25% to 2% today during the scheduled meeting of the Federal Open Market Committee, saying that the current measures may be enough to remove the risks. As the majority of the traders expected, FOMC reduced the interest rate for the U.S. financial market by 25 basis points and signaled that, although the current situation on the […]
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April 302008
EUR/USD Mostly Unchanged by Other Macroeconomic Releases before Fed Rate Decision
EUR/USD remains mostly unchanged today as the markets await the Federal Reserve decision on the interest rate. Even some important indicators that were released in U.S. today failed to move the currency pair significantly on Forex. Advance data for the first quarter GDP in U.S. were releasd today, showing 0.6% growth (the same as in Q4 2007), above the estimate of 0.5%. Chicago PMI index […]
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April 302008
Dollar Steady ahead of FOMC Meeting
The U.S. dollar continues to head for the first monthly gain against its European counterpart this year as the market participants await the FOMC rate decision and a statement that are scheduled for release today. According to the interest rate futures, Investors believe that the rate in U.S. will be lowered today by 25 basis points (from 2.25% to 2.00%), but the statement wont be dovish […]
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