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07/27/2008 - USD strengthens across the board; looking for more to come

Posted by FOREX.com's Weekly Strategy in July 25th 2008  
* USD strengthens across the board; looking for more to come
* EUR/USD & USD/JPY price levels to watch
* Outlook continues to stabilize in US while deteriorating elsewhere
* Key data and events to watch next week

The USD recovered broadly against other major currencies this week as the GSE panic subsided further and oil and other commodity prices continued their sharp retreat. US 2Q bank earnings reports also came in generally better than expected, though many firms still reported significant losses and write downs, but left the impression that financial sector hemorrhaging is nearing an end. Non-financial firms' 2Q earnings reports were also generally better than expected, reinforcing the notion that US firms are well-positioned to weather the current economic storm, with attendant positive implications for the US economic outlook.  Full text »

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Filed under: Weekly Strategy