Forex Blog

First-hand Forex trading experience and information about foreign exchange market that will be useful to traders

Archives

EUR/USD Down as Stocks Fall Despite Good Fundamentals

May 6, 2009 by

EUR/USD declined fro the second day after rising earlier today as the stock markets failed to sustain a growth and corrected almost to a zero daily change after opening positively today. Very good fundamental reports were released in U.S. today and yesterday but they failed to inspire the markets for another bullish wave. EUR/USD is now trading near 1.3282.

ADP employment change was reported at -491k from March to April on a seasonally adjusted basis; that’s a positive value if you compare it to -708k decline during a previous month (revised upwardly from -742k). Forecasts showed -645k change for April.

Crude oil inventories increased by 0.6 million barrels last week and now total above 375 million barrels.

Yesterday, a report showed that the ISM services index rose from 40.8% to 43.7% in April. It was expected to go up only to 42%.

Leave a Reply

required
required (will not be published)