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Dollar Rises as Equity Markets Weaken into the Close

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Aug 25, 2009.

  1. forextrends24

    forextrends24 New Member

    Mar 27, 2009
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    Today’s sample of Forex Analysis from ForexHound.com

    The U.S. Dollar mounted a strong recovery late in the trading session as equity markets weakened into the close for the second day in a row. Trading has been lackluster for the past few days in the Forex markets highlighted by choppy, two-sided trading on light volume.

    Today the Dollar started out lower but quickly regained a little strength in mixed trading following the release of two better than expected U.S. economic reports. Early this morning it was reported that the S&P/Case-Shiller Housing Report showed unexpected growth while consumer confidence rose. Both of these reports helped the Dollar rebound after early session weakness in a trend that continued throughout the day into the close.

    The EUR USD could not hold on to gains following a firm early morning session. Another report showing an improvement in Euro Zone growth helped give this market an early boost, but the gains were erased throughout the day by the bullish U.S. economic reports. A sell-off in the equity markets late in the session finally pushed the Euro lower on the day. Technically, this market remains in a range of 1.4447 to 1.4045 with the market basically hugging 50% of this range.

    Read full article at ForexHound.com as well as Forex Analysis, Forex Education and exclusive timely market Gann Analysis

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