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Day: September 15, 2008
September 152008
EUR/USD Down Despite U.S. Manufacturing Decline
EUR/USD is down today on Forex after a big positive week-opening gap. The currency pair reached its 10-day high level during the early trading session but then declined below the Fridays close level quite fast. Bad macroeconomic statistics from U.S. pushed EUR/USD up, but it still trading in the red zone — near 1.4187 level. NY Empire State index, related to the manufacturing, declined from 2.8 to -7.4 in […]
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September 152008
Pound Rises vs. Dollar on Rate Cut Bets
The British pound rose today against the U.S. dollar as the traders started to bet on the interest rate cut in the United States based on the recent catastrophic developments in the countrys financial sector. Although many currencies opened this week with a huge positive gap against the dollar, pound remains one of the few that still hover above the open rate and show […]
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