U.S Dollar weakens after GDP release
Last Updated on Thursday, 26 May 2011 04:17 Written by Elena Rajkovic Thursday, 26 May 2011 04:17
The number of individuals who filed for unemployment insurance for the first time during the past week added up to 424,000 people; 21,000 individuals more than expected. Also, this week’s subtotal was 10,000 people more than last week’s total of unemployment claims filed. Forecasted number of individuals expected to file for unemployment was approximately 403,000; while previous results came out at 414,000.
Another news release for the US was the GDP second release, which also disappointed at 1.8% while it was expected to show a 2.2% release. Gross Domestic Product remained the same as the previous GDP release, both at 1.8%.
Slight recovery for Euro after all-time low versus Swiss Franc
Last Updated on Thursday, 26 May 2011 11:35 Written by Elena Rajkovic Thursday, 26 May 2011 11:35
Yesterday’s Euro session had mixed feelings, trading flat against the Dollar and lower versus the Streling and Swiss Franc. Today’s session seems to be a little brighter for the 17 nation European currency as it’s trading stronger against the Dollar above the 1.40 zone.
Durable Goods Orders fall in April
Last Updated on Wednesday, 25 May 2011 04:10 Written by Elena Rajkovic Wednesday, 25 May 2011 04:10
US Durable Goods Orders were released with results further less than expected. Core Durable Goods disappointed at -1.5% while expectations were circulating at 0.7. Durable Goods Orders fell by 1.6% more than foracasted, being released at 3.6% in April from the expected 2.0% and previous 4.1%.
Gross Domestic Product for UK at 0.5%
Last Updated on Wednesday, 25 May 2011 12:25 Written by Elena Rajkovic Wednesday, 25 May 2011 12:25
British Gross Domestic Product grew by 0.5%, remaining at the same pace as previous releases. The news initially dropped the currency versus the Dollar, slowly recovering to climb at its currenct point of 1.6183.
Euro slips as there is no handle to hold on
Last Updated on Wednesday, 25 May 2011 12:12 Written by Elena Rajkovic Wednesday, 25 May 2011 12:12
Troubles in Europe are making it hard for the European currency to stand on its feet. Greece’s debt crisis pulled the Euro lower than it has been since March. The Euro seems to be depending on daily news, such as German IFO results and Greece’s false news of snap elections in order to attempt to make a higher move. Yesterday’s German IFO news pushed a Euro up for an instant, before fading away to drop again.
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