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Day: July 31, 2009
July 312009
EUR/USD Gets Rallied by GDP Report
EUR/USD rose today more than twice as much as yesterday as the news about 2nd quarter U.S. GDP change spurred bullish confidence in the euro and other high-yielding currencies. EUR/USD is now trading near 1.4134. Advance estimate for the U.S. GDP change in the second quarter of 2009 came out at 1.0% decrease, which is better than the average forecast of 1.5% decline. But the first quarter’s GDP drop was negatively […]
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July 312009
Is GDP Optimism Bad for U.S. Dollar?
The U.S. dollar is falling against the euro for the second day today as the traders expect a decline in the contraction of the U.S. GDP for the second quarter of 2009. The dollar is also falling against the British pound, approaching its monthly low levels, as the GDP optimism is forcing investors to buy high-yielding assets around the world. The gross domestic product advance report for Q2 2009 is expected to show a contraction by 1.5 percent today […]
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