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Day: September 30, 2008
September 302008
Business and Consumer Cinfidence Boost Dollar
EUR/USD fell today at a fastest daily pace since the early September as the fundamentals in U.S. came out at a better than expected level today, spurring both U.S. stock market and dollar rallies. EUR/USD lost almost 300 pips today and is currently trading near 1.4129 level. Chicago PMI, indicating the business confidence, dropped from 57.9 to 56.7 in September — thats not a bad result, considering the average forecast […]
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September 302008
Malaysian Ringgit Opens Lower for 6th Day
The Malaysian ringgit like the other emerging Asian currencies continued to fall today as the U. S. Congress failed to pass the $700 rescue plan for the financial institutions and the global volatility rose on the deeper crisis expectations. The Malaysian currency is currently heading for the second month of decline versus the U.S. dollar as the Asian stock markets follow the general trend of the […]
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