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Day: May 15, 2009
May 152009
EUR/USD Trades in Red After European GDP, Mixed U.S. Fundamentals
EUR/USD was trading below its opening level for the whole day today as the poor GDP data was released in Europe, but managed to go up a little from the daily lows after the mixed fundamental statistics went out in United States. Its now trading near 1.3572. Consumer Price Index (CPI) in its seasonally adjusted form remained unchanged in April after declining by 0.1% in March. […]
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May 152009
Euro Down as German GDP Falls More than Expected
The Eurozone single currency declined against all other major currencies today after the news went out that the economy of Germany contracted at a fastest pace in decades last quarter. In the first quarter of 2009 German GDP — the highest in Eurozone and the worlds 4th highest — declined at a seasonally adjusted rate of 3.8 percent compared to Q4 2008; this decline followed 2.2 percent decline during previous quarter. Yearly drop […]
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