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USD Goes Up on All Fronts

The USD underwent an impactful bullish trading session last week, as it appreciated versus all of its major currency rivals. The greenback saw significant bullishness towards the end of the week as the very significant and fragile Pending Home Sales that were expected to be released at a negative value, completely beat the forecasts and were measured at a positive rate of 5.3%. Crude Oil also affected the USD and was very volatile last week. Traders noted that Crude Oil was traded above $120 a barrel for part of last week, but dropped almost as low as $115 a barrel on Friday. At the end of the week, the USD was traded under the 1.50 level against the EUR and above the 110.00 level against the JPY. Traders should also notice that towards the end of last week, the USD’s strength was assisted by the EUR’s bearishness with a gloomy […]

Original post by Forextvblog

This entry was posted on Monday, August 11th, 2008 at 1:21 am and is filed under currency trading, 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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