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Dollar a Bit Stronger at the Week’s End

February 29, 2008 (Last updated on April 1, 2008) by

The  U. S. managed to fall to another record low value today at 1.5238 per euro but recovered from a daily loss and even gained somewhat against the European currency. Personal income statistics was a little better than expected today and Michigan consumer confidence index was also revised towards the improvement.

Personal income in January rose by 0.3% — better than the expected 0.2%, but this growth was lower the December’s 0.5%. Personal spendings grew also better than expected — 0.4% against 0.2%; in December they grew by 0.3%.

Chicago PMI (it measures the business’s health) fell sharply in February from 51.5 to 44.5. It fell even below the market analysts’ expectations that were at 49.5.

Michigan Sentiment Index (it measures consumer confidence) for February was revised today from 69.6 to 70.8, while the consensus value for the revision was at 70.0.

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