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Labor Day - US Market Is Closed.

Last week, the USD went through some choppy waters while showing mixed results against the majors. The greenback gained a respectable 100 pips versus the EUR closing at 1.4670, also making strides against the GBP and CHF. The USD did experience some bearishness against the JPY, due to a strong news week by the Asian powerhouse. Last week’s results were driven largely by strong US economic indicators, as positive data pushed the Greenback. Housing sector figures were surprisingly positive, as both Existing and New Home Sales, pushed the market toward favorable Dollar sentiment. Traders also saw a bullish dollar following an unexpected rise in Core Durable Goods, and what took many by surprise, a 3.3% rise in quarterly GDP.
This week should bring high volatility for the Dollar as many crucial news events will take place. ISM Manufacturing PMI is expected on Tuesday and will look to set a mark […]

Original post by Forextvblog

This entry was posted on Monday, September 1st, 2008 at 3:12 am and is filed under currency, gold price, Crude Oil, 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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