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Dollar at All-Time Low against Euro

July 15, 2008 by

The  U. S. dollar reached its new all-time low against the European currency and is now trading just a little below that level. After some positive economic releases came out in U.S. dollar recovered slightly but is still trading in a very dangerous zone near 1.6000 level. The new maximum on EUR/USD is 1.6038.

NY Empire State index posted an unexpected increase in June, going up from -8.7 to -4.9. While it still remains below zero, experts didn’t expect it rise above -8.0 level.

Retail sales climbed only 0.1% up in June, while a growth by at least 0.4% was expected by the markets and growth in May was as high as 1%.

Producer price index gained 1.8% in June — above the forecasted 1.3% and May’s 1.4% growth.

Business inventories rose by 0.3% in May after 0.5% growth in April and the average estimate of 0.5% for May.

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