Daily Market Report
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The US dollar strengthened against most of its major trading partners overnight
Thu, May 8 2008, 12:07 GMT
by Wachovia Research Team
The US dollar strengthened against most of its major trading partners overnight, notably the euro fell to an 8 week low and the pound to a 10 week low. The dollar performed well as investors anticipate the European Central Bank to signal concern about economic growth and take a less hawkish stance for future meetings. Both banks kept rates on hold, seeking to keep inflation in check but remaining conscious of their respective weakening economies.
Crude oil posted a new all time high yesterday; though commodity linked currencies could not find momentum to rally against the US dollar. The Australian dollar remains near its recent highs and the Canadian dollar appears well supported.
Data released today includes Initial Jobless Claims, Continuing Claims, and Wholesale Inventories.
Published on Thu, May 8 2008, 12:10 GMT
Archive
- Risk aversion was the main theme of yesterday's trading session
Published On Fri, Jul 3 2009, 12:25 GMT - The US dollar and the yen fell against most major currencies
Published On Thu, Jul 2 2009, 13:25 GMT - The US dollar strengthened against the euro and the pound yesterday
Published On Wed, Jul 1 2009, 12:25 GMT - Daily Market Report
Published On Tue, Jun 30 2009, 12:50 GMT - The Swiss franc ended the week lower against the euro
Published On Mon, Jun 29 2009, 13:56 GMT
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