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Slight Strengthening of Dollar

January 29, 2008 (Last updated on December 3, 2009) by

Good fundamental macroeconomic data that was coming out today helped the U.S. dollar to fight back some of the pips, lost to euro yesterday. EUR/USD began this day at 1.4779, but now it hovers near the 1.4756 level. It’s not a big gain for the greenback, but it has a potential to continue the trend during the rest of the week.

Durable goods orders in December unexpectedly rose by 5.2%, which is a lot higher than the 1.5% expected by the markets. This indicator has a strong influence on the U.S. economy and also the Forex market, so it can be a really positive news for dollar.

Consumer confidence surveyed by the Conference Board landed at 87.9 in January, after it was 90.6 in December (revised from 88.6). So, it really fell a just little down, but it’s still better than forecasted 87.0.

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