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Existing Home Sales Will Be Released Today.

Yesterday, the greenback lost ground on what had been a bullish closing to last week’s trading. The US was absent from the day’s economic calendar, which pushed the Dollar to record lows against the Euro in particular. The greenback has struggled to make a steady recovery against its major currency rivals, as bullish trends have proven to be short lived lately. With so many contributing factors to the fate of the dollar and the overall importance it has on the global economy, many investors still believe the greenback has the ability to recover, even with the current state of affairs.
Last week’s unemployment numbers were better than expected along with the Empire State Business Conditions Index, and events for the week to come could contribute to the greenback.
Yesterday, EUR/USD prices soared towards the 1.6000 level. A contributing factor in the rise of the major pair were stock market losses brought […]

Original post by Forextvblog

This entry was posted on Tuesday, April 22nd, 2008 at 3:36 am and is filed under All time high, Existing Home Sales, analysis, USD, forex, 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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