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EUR/USD Down for 4th Day

January 18, 2008 (Last updated on December 3, 2009) by

Euro is dropping down against the U.S. dollar for the fourth day in a row now. Declining stock markets force traders to cash out into dollars, increasing the demand for them. Today’s fall is minimal (less than 20 pips), but still keeps euro from rising and dominating over the dollar as it has been doing in 2007.

Leading indicators in U.S. released by the Conference Board showed a decrease in December by 0.2% after 0.4% drop in November, but still worse than 0.1% decline that was expected by the markets.

Reuters/University of Michigan released the preliminary results of its sentiment index today showing the unexpected rise from 75.5 to 80.5, while analysts expected a drop to 74.5.

One Response to “EUR/USD Down for 4th Day”

  1. Jack Payne

    The question always looms: what’s so solid about the euro? It’s a currency that represents the best of a socialist Europe–not much to say for its economic base. As bad as dollar fundamentals are, I can’t see why it should be considered so bad as to be buried by the euro.

    Reply

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