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Day: August 12, 2008
August 122008
Good Trade Balance and Treasury Budget Reports Fail to Stop Correction on EUR/USD
Although, EUR/USD moved slightly above its opening level, this currency pair remained highly volatile today and reached a new minimum record since February 26 at 1.4815. The bullish spiked reached 1.4964 level. It failed to break above the 1.5000 resistance which may form a new psychological roof level for the next couple of weeks. Trade balance deficit shrank in June as the exports grew significantly faster than imports. The deficit decreased to $56.8 billion — down […]
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August 122008
Aussie and Kiwi Continue Bearish Trend
Both Australian and New Zealand currencies continued to fall against the U.S. dollar today as the traders confidence that the central banks of those countries will cut interest rates soon rose and the dollar continued its growth against euro, pound and yen. The Australian dollar (also known by its nickname Aussie) has already lost more than 11.3 percent since it reached […]
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