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Dollar Trembles as GDP Report Show 0.5% Less

September 26, 2008 by

EUR/USD rose today after the U. S. GDP Q2 results release disappointed many traders. The global stock markets also fell and not the last reason for that was the complete uncertainty about the $700 billion rescue plan. EUR/USD is currently trading near 1.4638 level.

GDP in the second quarter of 2008, according to the final revision report, rose at an annual rate of 2.8% — that’s 0.5% below the previous revision’s 3.3% growth. The forecast by the economic analysts showed 3.4% expectation for the final revision.

Michigan Sentiment index dropped from 73.1 to 70.3 in September. This fall exceeded the traders’ expectations — the average forecast for September’s value of this index was 71.0.

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