August 5, 2010 at 4:19 am
Many financial and forex trading experts thought that the US dollar would be able to start easing out of its decline because of the rising wages and the expected increase in home sales. It turns out that it may take a little time before traders see the dollar stabilize and perhaps strengthen on the onset of Pending Home Sales data. Although many are expecting that the Pending Home Sales data will improve, the figures were nowhere near the projected 0.5% and instead came out at -2.6%. This caused the dollar to weaken against most of the majors, with crude oil gaining by 1.5% to close at $82.55 per barrel, and gold increasing by 0.2% to close at $1,187.5 per ounce.
In England, the British pound is doing great as it strengthens against the dollar. The GBP/USD traded at a new high as the pair marked a high of 1.5968 and a low of 1.5861 on the August 4th trading day.
August 2, 2010 at 7:59 am
The United States dollar has been doing relatively well throughout the year, strengthening as investors showed their confidence in a strong economic recovery. Now, however, fears are setting in that the economic growth may slow down, causing the dollar to weaken at the end of the forex trading week on Friday, July 30th. Even with the decrease in jobless claims from the prior 468K to 457K, the US dollar weakened against many of the other major currencies. Gold closed at $1,168.4 per ounce strengthening by 0.7%, while crude oil closed at $78.3 per barrel to post a gain of 1.8%. The NASDAQ fell by 0.57%, and the Dow Jones fell by 0.29%.
The euro, on the other hand, has finally posted its first gain in nearly three months. This comes hand-in-hand with the investor confidence in the strengthening of the region’s economy. The EUR/USD forex pair traded at a high of 1.3107 and a low of 1.2977.
July 30, 2010 at 3:11 am
The greenback posted some mixed results against other forex majors. This is after the US data on durable goods orders came out worse than the 0.6% forecast and tumbled down to -0.6%. With these figures, many investors are left uncertain about the real market conditions. On July 29 trading day, the stock market also weakened, with Dow Jones falling at 0.38% and NASDAQ declining at 1.04%. As for the commodities market, crude oil also fell by 0.7% to close at $77 per barrel, while gold posted gains by 0.2% and closed at $1,1160.4 per ounce.
For second straight day, the euro traded versus the dollar with small difference between the high and low points, as the EUR/USD forex pair traded between 1.2966 and 1.3042. The British pound also remained nearly unchanged against the dollar. The GBP/USD pair posted a high of 1.5638 and a low of 1.5544. Following the drop in orders for US durable goods and the anticipated slow economic growth according to Federal Reserve, the Yen posted gains against the dollar. The USD/JPY forex pair closed at a high of 88.11 and a low of 87.25.
