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Day: November 26, 2008
November 262008
Abundance of Fundamental Reports from U.S. Causes EUR/USD to Correct
EUR/USD declined today after rising for three consecutive days as many macroeconomic reports were released in the United States. EUR/USD is currently trading near 1.2939 after reach as high as 1.3080 yesterday. Durable goods orders decreased by 6.2% in October after declining by 0.2% in September (revised down from the 0.8% gain). The orders were expected to decline by no more than 2.5%. Initial jobless claims declined to 529,000 last week […]
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November 262008
British Pound Declines before GDP Report
The British pound fell today against the U.S. dollar and the yen, following the three days of growth, as the traders expect the GDP report to confirm a decline of the economy today. The traders expected that the todays Q3 GDP report will confirm the 0.5 percent decline seen in the advance report a month ago. The report will be released today at 9:30 GMT. Although it wont mean a recession […]
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