Forex Blog

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

Archives

EUR/USD Keeps Positions After Enourmous Growth Yesterday

December 12, 2008 by

EUR/USD continues to keep its position on the Forex market today after gaining 2.5% yesterday. The macroeconomics continued to hurt the U.S. markets and the dollar today, showing some really bad reports. EUR/USD is currently posting a moderate advance and is trading near 1.3395.

PPI decreased faster than the traders expected, losing 2.2% in November after posting -2.8% value in October. The median forecast for today’s report was at -2%.

Retail sales fell by 1.8% last month — slower than in October (-2.8%) and the forecast drop (-2%), but still a pretty bad result for the U.S. retail sector of the economy.

Business inventories declined by 0.4% in October following a September change by -0.6% (revised down from -0.2%) — below the forecast value (also -0.2%).

Leave a Reply

required
required (will not be published)