Crude Oil Continues to Soar

The greenback had a tough trading session last week, which was capped off by a huge bearish slip on Friday. Sparked by a batch of mediocre US data and positive EUR news, the USD saw losses throughout the week that saw a return to exchange rates it had during the height of the credit crisis, only several months ago. The oft traded EUR/USD pair was one of the more effected trading pairs of the week, as it saw fluctuation in the early parts of the week, dipping as low as 1.5360, before skyrocketing back to levels of 1.57 and above. The early part of the week saw decent fundamental news from the US, as ISM manufacturing, ADP NonFarm Employment Change and Unemployment Claims all showed improvement. Thursday’s unemployment claims were released at the same time as a press conference for the European Central Bank (ECB), which was where any hope […]

Original post by Forextvblog

This entry was posted on Monday, June 9th, 2008 at 12:47 am and is filed under Crude Oil, currency trading, forex, Nonfarm Payrolls, 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.