« Credit Suisse ups emerging markets, cuts Europe stance
ECB studying rise in money market rates: Noyer »

The Greenback Pushes Up

Yesterday the greenback underwent an extremely bullish momentum, ascending against its major currency rivals. The USD undertook a dominant bullish trend against the EUR, beginning the trading day with the rate of 1.5876, and rising up to 1.5639. The USD also made dominant gains vs. the GBP, the JPY and the CHF.
Some favorable data arrived yesterday for the Dollar. The first great news came from the Core Durable Goods Orders. The survey was expected to be much better than last month’s result which was a negative 2.1%. Analysts expected a turn for the better that should have been reflected in a 0.5% gain, yet the survey results came even better than expected displaying a 1.5% increase. Meanwhile more cheering data came for the USD with the publishing of the U.S Unemployment Claims. After last month’s 375K result, analysts forecasted a similar figure for this month as well, but to enhance […]

Original post by Forextvblog

This entry was posted on Friday, April 25th, 2008 at 4:49 am and is filed under gdp, 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.

Leave a Reply