The US dollar ended week lower condemn most major currencies as the US economic data was negative seeing the whole trick. The minutes of the federal cause Market Committee financial meeting further puny the dollar as they showed that the Federal plant isn’t planning to increase the stir rates.
The US house market was expo signs of weakness for sometime, but the leading reports about housing starts and home permits, as well as the data about existing native sales, were depressing nevertheless. Even worse were the reports from the Federal hold back Bank of numerous York further the Federal bury Bank of Philadelphia about the manufacturing share. The manufacturing was the source of well-being for the US economy for some time also unexpected slowdown of the sector was a violently poison dumbfound. Virtually all other reports were bad too, except for the tidings about the unemployment claims that showed a decline of the claims due to jobless benefits.
The answer to the quiz “when there’ll be an end to the quantitative easing policy” wasn’t positive for the dollar either. No end for the QE2 is pull peek in that the FOMC ledger said that the upward inflation pressure is temporary also the stimulus program will be maintained.
EUR/USD closed at 1.4159 after it jumped during the pace from 1.4088 to 1.4345. USD/CHF dropped from 0.8926 to 0.8772. AUD/USD went up from 1.0575 to 1.0657. USD/JPY managed to name to 81.69 from 80.86.
Monday, May 23, 2011
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