Day: May 20, 2009

May 20
2009

EUR/USD Propels Through Resistance Level

EUR/USD rose for the third day in a row today and broke through the major resistance level that was located near 1.3735 rate. The market participants reacted on the surging oil prices. The currency pair is now trading near 1.3760. U.S. commercial crude oil inventories decreased for the second straight week (May 9 to May 15) as it was reported today — by 2.1 million barrels after 4.7 million […]

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May 20
2009

Ruble Strengthens to New 2-Month High

The Russian ruble rose to its new maximum since January 14 against the U.S. dollar today as the current oil prices still suggest that the December-January devaluation was too strong. The ruble also gained against the euro and reached a new high since January 26 against it. The Russian ruble is pegged to the basket of currencies that consists of 55 percent U.S. dollars and 45 percent euros. The oil now trades above $60, which, if not compared to the overpriced […]

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