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Day: August 5, 2008
August 52008
Dollar Stronger Before FOMC Decision, Gave Up Somewhat After
EUR/USD had a very big drop today as the stock markets grew in U.S. and the Forex traders expected positive decision from the FOMC monetary policy. ISM report also supported the greenback today with an increase in its index, but the main news was the interest rate decision and (more important) the statement released by the Federal Reserve. After the release […]
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August 52008
Aussie Falls on RBA Rate Cut Signals
The Australian dollar declined to its lowest value against the U.S. dollar since July today after the central bank statement said that lower inflation may allow interest rate cuts in the future. The Australian currency (which is also known by its nickname Aussie) fell for a sixth day in a row against its U.S. counterpart as the Reserve Bank of Australia released its statement […]
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