Forex Blog

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

Archives

EUR/USD Up on Fed Dovish Tone

December 16, 2009 (Last updated on December 17, 2009) by

The EUR/USD currency pair rose today after the Federal Reserve announced that interest rates in the United States will remain at a record low for an extended period, this fact declined speculations that rate hikes could come sooner-than-expected, halting a rally for the greenback versus the main traded currencies in foreign-exchange markets. At the moment EUR/USD trades at 1.4579.

Building permits were at seasonally adjusted annual rate 584k in November as forecasts suggested and from a previous reading of 551k (revised) in October. Housing starts touched a seasonally adjusted rate of 574k in November from a revised rate of 527k in October, forecasts were more optimistic than actual figures at 590k.

Consumer Price Index (CPI) rose 0.4% in November from 0.3% in October, forecasts suggested the same value confirmed on the actual report.

U.S. crude oil inventories declined 3.7 million during the last week. Total motor gasoline inventories increased by 0.9 million barrels last week, and both figures above the upper limit of the average range.

If you have any comments on recent EUR/USD action, please, reply via the form below.

Leave a Reply

required
required (will not be published)