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Consumer Confidence in U.S. Sinks Dollar

Today dollar continued its bearish trend against euro and pound, sliding down significantly after the consumer confidence release. Both EUR/USD and GBP/USD were going for correction after the better than expected PPI report, but started to return to their earlier positions in shortly after the Conference Board’s release. Producer Price Index (PPI) gained 1.0% in February — a significant value for a one month [...]

This entry was posted on Tuesday, February 26th, 2008 at 11:31 am and is filed under Forex Currency, US Dollar, Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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