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Dollar Falls Insignificantly on Neutral Fundamentals

June 25, 2008 by

EUR/USD grew today from 1.5571 to 1.5573 making it a second gaining day this week, but it’s still trading below the Monday open rate (which is 1.5627). All fundamental releases were quite neutral today, so they couldn’t help much neither dollar nor euro. Forex market participants await FOMC rate decision today.

Durable goods orders remained unchanged in May after a 1% decrease in April — and according to the market analysts’ forecast it shouldn’t been changing.

New home sales dropped from 525k annual rate (revised down from 526k) in April to 512k in May. It wasn’t a surprise to the markets; the average forecast was 510k.

Crude oil inventories gained 0.8 million barrels last week, but are still near the lower boundary of the average range for this time of year.

One Response to “Dollar Falls Insignificantly on Neutral Fundamentals”

  1. axa

    the strengthen in USD is still unstable, any significant news can pull back USD, such today, there’s Existing Home Sales US will be released, if the annoucement is worst than expected, i think USD will weak again

    Reply

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