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Low Liquidity Expected Due to 4th of July.

The USD appreciated against all of the major currencies during yesterday’s trading session. The US Dollar gained over 160 points versus the EUR and closed at a rate of 1.5702. This happened in spite of the mostly disappointing results for the economy. . The Unemployment Rate was higher than forecasted at 5.5%. The Average Hourly Earnings did not change since last published at 0.3%. The Unemployment Claims indicator rose to 404K. The ISM Non-Manufacturing Composite plummeted to 48.2 meaning the service sector is shrinking. And the Natural Gas Storage Gauge came in 4B lower than predicted at 85B. Thus to find a better explanation for this, phenomenon traders might like to look at the crucial Nonfarm Employment Change which did came in lower than expected at -62K, however most expected a larger drop as the ADP came in a with a big disappointment and the actual Nonfarm Employment Change was […]

Original post by Forextvblog

This entry was posted on Friday, July 4th, 2008 at 2:48 am and is filed under Crude Oil, currency trading, 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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