Dollar Trades with Mixed Results

Sunday, August 8, 2010 posted by admin

Against most of the forex trading currencies, the dollar remained mostly the same, although the dollar traded with mixed results. This was due to the anxiety felt about the anticipated NFP data. As for the Initial Jobless Claims, it was worse than the expected, at 479k versus the anticipated 455k. The Unemployment Rate is anticipated to go up from 9.5% to 9.6%. The US stock markets posted negative results, with NASDAQ going down by -0.46%, and Dow Jones plummeting by -0.05%. Gold remained unchanged at $1,194.65 per ounce. Crude oil also went down a bit, but was able to trade above the $82-per-barrel rate.

Amidst strong volatility issues, the euro was able to gain a bit against the dollar. The Interest Rate remained unchanged, which is anticipated at 1%. The German Factory Orders posted better results than the expected rate, which was 3.2% versus the anticipated 1.5%. The EUR/USD exchanged at a high of 1.3235 and a low of 1.3118.

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