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The Currency Futures Report
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Sterling 'Lower' on Lower Retail Sales
Thu, Jul 24 2008, 14:20 GMT
by Bob Kozak
British Pound (BPU8):
Sterling opened lower at 1.9793 after a weaker than expected Retail Sales report showed consumers tightening the belt on spending, dropping Sales 3.9% in June the most since 1986. Prices jumped to a morning Hi of 1.9806 after a weaker than expected U.S. Jobless Claim report sent the DX lower. The BP slid to 1.9741, before bouncing
Dollar Index (DXU8):
The DX opened higher at 73.055 and slid to 73.02 after Jobless Claims showed an increase of 34K to 406K. Prices bounced to 73.16 before drifting lower as traders await release of Existing Home Sales.
Canadian Dollar (CDU8):
The CD opened higher at .9895 and slid to .9887, before bouncing to .9906 as energy/metals prices find support.
Euro Currency (ECU8):
The EC opened 'flat' at 1.5633 and rose to 1.5650 on a higher U.S. Jobs report, before sliding to 1.5612 as the DX bounced.
Japanese Yen (JYU8):
The JY opened higher at .9308 as lower oil prices and a stronger DX should help the economy move forward and increase exports.
Published on Thu, Jul 24 2008, 14:22 GMT
Archive
- Dollar 'Responds' Favorably to Bail-Out Proceedings
Published On Thu, Sep 25 2008, 13:53 GMT - Dollar 'Drops' on $1 .0 Trillion Bailout/Budget Concerns
Published On Tue, Sep 23 2008, 09:15 GMT - Dollar 'Drops' on Jobless Claims Increase
Published On Fri, Aug 1 2008, 13:51 GMT - Dollar 'Retreats' on Continued Financial Concerns
Published On Tue, Jul 29 2008, 14:23 GMT - Sterling 'Lower' on Lower Retail Sales
Published On Thu, Jul 24 2008, 14:20 GMT
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