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Overnight the US dollar was relatively unchanged against most currencies,
Tue, May 6 2008, 12:03 GMT
by Wachovia Research Team
Overnight the US dollar was relatively unchanged against most currencies, continuing its consolidation of last week's gains. Fed Chairman Bernanke stated house price declines and mortgage delinquencies may have substantial spillover effects into other markets, hurting the overall economy. Market participants have been investing in riskier assets lately, some economists believe more volatile times and market corrections may lie ahead.
Crude oil spiked higher this morning, weighing on the dollar and providing some support for commodity driven currencies. The Reserve Bank of Australia kept rates unchanged at 7.25% and maintained a neutral bias, indicating a balance between higher inflation but slowing demand in the current environment.
There are no significant data releases today; ABC Consumer Confidence comes out at 5:00 PM EST.
Published on Tue, May 6 2008, 12:05 GMT
Archive
- The British pound fell to its lowest level against the dollar in 2 ½ years
Published On Tue, Oct 7 2008, 13:43 GMT - The dollar strengthened against nearly all of its major trading partners
Published On Mon, Oct 6 2008, 11:49 GMT - Yesterday's trading showed continuing strength for the US Dollar
Published On Fri, Oct 3 2008, 12:17 GMT - Today's economic releases include Initial Jobless Claims
Published On Thu, Oct 2 2008, 12:00 GMT - Yesterday's trading yielded strong results for the dollar
Published On Wed, Oct 1 2008, 12:09 GMT
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