EUR/USD declined to its new minimum level since February 20 — 1.4700. Although its currently trading significantly above that level (at 1.4743), theres a little doubt regarding further trend direction of this currency pair. According to a report that was released today NY Empire State index rose to 2.8 in August compared to -4.9 in July. It was expected to decline to -5.0. Net foreign purchases of the long-term U.S. securities declined in June — from $83.2 billion […]
Read moreThe Chinese yuan is currently heading for its fourth weekly decline against the U.S. dollar for the first time since the end of the peg to dollar in 2005. The currency dropped just little more than 0.1 percent this week adding to a total of more than 0.7 percent in a losing streak lasting from July 18. The Chinese government is probably cooling down yuans appreciation to support the exports […]
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