Dollar stronger on falling stocks

Globals Forex — Sat, 15 Aug 2009 07:50:39 +0000

U.S. indexes continue falling, with Dow Jones industrial Average down 1.53% and S&P 500 1.57% down. Dollar is stronger across the board, except against Japanese Yen, with EUR/USD printing a fresh daily low so far of 1.4208, while GBP/USD keeps holding above 1.6520 zone, as risk aversion regains trading desks after worst than expected UOM Consumer Confidence data.

Commodity currencies are the major losers today, with AUD/USD down from 0.8478 highs to 0.8300 and USD/CAD reaching 1.0948 from an intraday low of 1.0812. NZD/USD also fell after printing an 11-month high of 0.6884, and quotes around 0.6775

USD Edges Up, Eyes FOMC

Globals Forex — Fri, 14 Aug 2009 04:24:14 +0000

The dollar and yen were higher in Tuesday trading amid renewed declines in the equity bourses. The Nasdaq and the S&P 500 were lower by 1% and the Dow Jones softer by 0.75% in afternoon trading. Earlier US economic reports were mixed with Q2 labor costs falling by more than expected to -5.8%, compared with a negative revised Q1 figure at -2.7% and a sharply higher than forecast preliminary Q2 productivity reading, up by 6.4% versus a downwardly revised Q1 reading at 0.3%.

The FOMC kicked-off its two-day monetary policy meeting today and will be announcing its decision on Wednesday afternoon at 2.15 PM. The Fed is not seen changing interest rates from its current range of 0-0.25%. However, with the Treasury’s purchase plan set to expire in September, it will be interesting to see how the Fed will tackle the issue of extending the plan or permitting it to expire.

Forex Trading Latest News » Dow Jones

Dollar stronger on falling stocks

USD Edges Up, Eyes FOMC