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EUR/USD Breaks Records as Dollar Falls Deep

February 27, 2008 (Last updated on December 4, 2009) by

Today EUR/USD reached its new historical maximum at 1.5105 as the dollar continued to weaken both on the rates cut expectations and later — bad macroeconomic data releases in U.S.

Durable goods orders — a very important indicator of the business’s health — decreased 5.0% in January, more than the expected drop of 0.4%.

New home sales in January fell to 588,000 annualized rate — below the December’s 605,000 and forecasted January value of 600,000.

Crude oil inventories last week again showed a very strong gain — 3.2 million barrels. But nevertheless oil prices continue to break all maximums.

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