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Day: May 12, 2009
May 122009
EUR/USD Fails to Break Through Resistance on Global Trade Decline
The dollar was losing strongly during the early trading session today but failed to fall past its support and euros resistance level located near 1.3720, as the U.S. reported decline in its global trade and traders shunned the high-yielding assets. EUR/USD is now trading near 1.3622. U.S. trade balance report for March showed an increase from $26.1 billion to $27.6 billion deficit today as the exports fell faster than the imports in U.S. The average forecasts […]
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May 122009
Euro Reaches 7-Week High on Chinese Investing Improvements
After the European Central Bank policy makers affirmation that rates will be maintained on hold, the euro reached a 7-week high against the dollar. The euro reached a 2-month record high against the dollar, after a report released in China indicating that urban fixed-asset investments had the highest rise in two years, which increased confidence and demand for higher-yielding currencies and the […]
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