Calm Day for Currency Trading Today

Yesterday the greenback saw rising trends against most of its major currency trading rivals. During the prior trading session the EUR\USD dropped 98 points from 1.5573 down do 1.5475. In addition the USD experienced bullish behavior against the JPY and the CHF. Yesterday was packed with data for the U.S economy. The most important indicator was the Unemployment Claims, which showed that the U.S weekly jobless claims rose by 5,000 to 381,000 individuals filing new claims for unemployment. The Philadelphia Fed Manufacturing Index, which measures the general business conditions of manufacturers in the Philadelphia Federal Reserve district, fell to -17.1 in June from -15.6 in May. This figure is much lower than the -10.0 reading that analysts expected. Later on in the day Treasury Secretary Henry Paulson spoke in Washington DC. In his speech, Secretary Paulson stated that energy prices could extend economic slowdown, stating that “the headwind of high […]

Original post by Forextvblog

This entry was posted on Friday, June 20th, 2008 at 1:44 am and is filed under oil, currency trading, gold, 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.