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U.S. Dollar Continues Falling

December 28, 2007 (Last updated on December 3, 2009) by

EUR/USD continued to rally today after four unprecedented days of growth, making it the full bullish week for this currency pair with the every trading day session ending in favor of euro. Even holidays with their low financial trading volume couldn’t save USD from losing 2% against EUR.

Chicago PMI (Chicago Business Barometer) rose to astonishing 56.6 in December after being only 52.9 in November. The average forecast for this indicator was around 52.0. So, it should definitely improve current dollar’s stance.

U.S. Department of Housing and Urban Development released the report on November new home sales, showing a large downward gap between the October and current values — 9%. New residential sales were at 647,000, while October’s value (revised down from 728,000) was 711,000. Analysts expected a lesser drop to 715,000.

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