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U.S. Dollar Finishes Mixed on Low Volume

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Sep 4, 2009.

  1. forextrends24

    forextrends24 New Member

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    Today’s sample of Forex Analysis from ForexHound.com

    The U.S. Dollar is finished mixed on light volume as traders evened up positions ahead of tomorrow’s U.S. Unemployment Report. The Dollar opened weaker against most major Forex markets this morning but erased losses as the day wore on. Today’s weaker than expected U.S. ISM Services Report helped the Dollar regain some of its losses as this report showed the U.S. economy was still weak. Some traders feel that weakness in the services sector will mean that tomorrow’s unemployment report will show more job losses than estimated. Yesterday’s ADP employment report was worse than estimated. This too weighed on trader’s minds.

    The GBP USD opened up strong but gave back some of its gains by the close on position evening. This market has firmed up the last two days because of oversold conditions and a better than expected U.K. Services Report.

    This morning the European Central Bank announced that its benchmark interest rate would remain at 1.0% as expected. ECB President Trichet said that the road to recovery would be “bumpy” while explaining why the central bank is in no hurry to withdraw its emergency stimulus. After an early morning gain, the Euro lost ground to the Dollar and finished lower.

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

    alessio New Member

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    The previous week brought rather mixed results for the USD. As Non-Farm Payroll data was much better than expected, the USD quickly rose but ended the day significantly lower versus other Forex currencies.
    EUR/USD 1.4300
    GBP/USD 1.6400
    Find more news about Forex at Forex Trading Website.
     
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