There are likely to be increasing doubts over the US economy, especially given the surge in debt issuance and this will provide a stern test of dollar confidence. Initial US jobless claims rose to 516,000 in the latest week from a revised 484,000 th
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Overall, the currency market moved in a sluggish fashion during the overnight sessions. None of the major pairs were able to manage a breakout, with most pairs currently trading around the neutral pivot point. Before the credit crunch, almost every
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U.S. Dollar Trading (USD) USD gave up a lot the strength at the end of the US session as the Dow Jones rallied over 900 points off lows. Weekly Jobless claims rose above 500K to 516K vs. 484K expected. Also Released September International Trade at
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The first two will be ECB President Trichet and Federal Reserve Chairman Bernanke participating in a panel discussion at 08:30. This discussion will focus on policy coordination among the central banks. As the head of the ECB and Federal Reserve, wh
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Overall, the currency market was somehow resilient to moves seen in the equity markets and now the late rally (that helped the major U.S. indexes gain more than 6%) practically dragged every major higher, making the dollar index loss more than 1 ful
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The Euro and British Pound spent the overnight session consolidating gains seen in late US trading hours. A slew of Euro Zone data awaits in the forthcoming session, with France and Italy expected to follow Germany into a technical recession with ne
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The Dollar-Yen pair bounced off its low to start the global session near the 94.50 level. US stocks started the session choppy, with the Dow Jones index briefly falling below the psychologically important 8,000 level. However the afternoon saw US st
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In every major bear market, there are relief rallies and that is what we have seen today. The Dow Jones Industrial Average dropped more than 300 points during the US trading session before reversing violently to end the day up more than 550 points.
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The September goods and services deficit of $56.5 billion represented an eleven-month low. Oil accounted for all of the improvement. The big picture, however, is one of stalled improvement. The deficit of $59.4 bn over the first nine months of 2008
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Yesterday we noted that, 'another triple digit slaughter in equities could easily drag the pair towards the 1.2400 handle for a retest of its recent lows.' In today's late Asian trade that scenario played out to a tee as the EUR/USD was beaten down
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The Zew Indicator for Switzerland, gauging analystsÂ’ economic expectations, improved slightly to -88.5 in November, from -91.1 one month earlier. The assessment of the current economic situation deteriorated, with the corresponding indicator droppin
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The Dollar dropped against the Yen on Wednesday as investors reduced risky assets after comments by US Treasury Secretary Henry Paulson heightened concerns about the economy and sparked a global sell-off in equities. Cable (GbpUsd) plunged to its lo
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