EURUSD tumbled to low of 1.3861

Friday, 9 September 2011 10:39

With a new day comes a new low for the Euro/U.S Dollar.  The pair tumbled down to trade at 1.3877, a price that has not been seen in several months since its downfall in July where the pair dropped to 1.3850.

In yesterday's trading session EURUSD tumbled in a downward spiral after Trichet's press conference commenced, dropping from 1.4015 to 1.3945 in less than half an hour.  The drop continues into today's trading session where the pair has marked a low of 1.3861 and a high 1.3935; without entering the 1.4000 zone at all.

Currently, EURUSD is trading at 1.3896.

Furthermore, German Final Consumer Price Index and French Industrial Production were released earlier this morning at 9:00am (GMT +02:00).

The German Final CPI was released better than expected with a positive attitude at 0.0%, while forecasted at -0.1% from previous release of also 0.1%.

French Industrial Production came out at 1.5%, better than previous 1.5%; the index was predicted to report at 0.4%.