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Day: January 29, 2009
January 292009
EUR/USD Falls Steadily as Economic Conditions Worsen in U.S.
EUR/USD posted a rather deep decline today after showing some weak drops during the previous two days. The U. S. macroeconomic reports from the employment, industrial and housing sectors were all negative today. EUR/USD is now trading near 1.2976 after opening at 1.3150. Durable goods orders decreased by 2.6%, while the consensus forecast for the decline was at 2%. More than that, […]
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January 292009
New Zealand Dollar Falls on Rate Cut
The New Zealand currency declined against the U.S. dollar, the yen and its Australian counterpart today after the countrys central bank decided to cut the interest rate to a record low amidst the raging recession. The Reserve Bank of New Zealand reduced the official cash rate (OCR) to 3.5 percent down from 5 percent. The same 1.5 percent cut was conducted also on December 4. Analysts […]
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