Forex News Of Australia
by admin on 13/12/08 at 6:42 am
The USD had a very important trading day against most cross pairs as news came out on weekly jobless claims in the US dropping from 573k to 509k. Their trade balance also weakened to -57.2bn. Also news that their huge trade defecits and low interest rate of 1% are halting the US dollar going forward. Couple all that with the increasing gains in commodoties. Oil surged again as supply was spoken about being cut. The Nasdaq dropped 57 points, and the Dow was down 196 points
The Euro dollar surged up through key technical levels as the USD selling acceleratied. Due to oil jumping 10% the euro gained a massive boost.
The Japenese Yen also gained against the USD but was mixed against other pairs.
The Aussie Dollar did well as it tracked the Euro and higher commodity prices. Unemployment numbers were received at expected levle of -15.6 k and a 4.4% unemployment rate.
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