Day: August 15, 2011

EUR/USD Surges as US Fundamentals Worsen

This day was rather unfavorable for the US dollar as fundamental reports were far worse than was expected. EUR/US jumped as a result. Market analysts promised that US manufacturing would expand and purchases of US long-term securities would increase. Today’s reports proved such optimistic forecasts to be completely wrong. NY Empire State Index slid to -7.7 in August from -3.8 in July, indicating that conditions for New […]