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Day: December 24, 2014
December 242014
Dollar Remains Below Opening Level, Losses Limited
The US dollar remained below the opening level for the duration of the current trading session. Losses were small, though, and the currency remains among the best performers on the Forex market. The dollar started the session with losses and came to the end of the session remaining below the opening level. Yet the drop looks like a small correction during a strong bull move, not a reversal of the upward trend. Overall, the trading environment remains extremely positive for the US currency. […]
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December 242014
Euro Continues to Struggle; Likely to Struggle in 2015
Euro continues to struggle, turning in a mixed performance today. The 18-nation currency is finding it difficult to maintain gains as concerns about the economy continue to rise. While the euro is turning in a slightly stronger performance against the US dollar today, it’s not likely to last. The eurozone appears stuck in economic doldrums. The International Monetary Fund expects to see eurozone growth of 1.3 per cent in 2015 — leaving it behind as the global […]
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December 242014
Dollar Retreats vs. Euro, Doesn’t Fall Far
EUR/USD bounced today following yesterday’s drop to a new multi-year low. The dollar’s decline was not big, and the US currency regained some of its strength after unemployment claims fell unexpectedly. Initial jobless claims fell from 289k to 280k last week, a nice surprise for those dollar bulls who have counted on an increase to 291k. (Event A on the chart.) Crude oil inventories swelled by 7.3 million barrels last week […]
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December 242014
Dollar Backs Off Following Gains, Remains Strong
The US dollar is backing today after yesterday’s gains. Yet the currency is still strong, trading near a new multi-year high against the euro, following some positive reports from the United States. The major indicator that drove the dollar up was gross domestic product. GDP rose 5 percent in the third quarter of this year, beating market expectations. The University of Michigan consumer sentiment index was also […]
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