EURO The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4670 level and was capped around the $1.4810 level.  Data released in the U.S. today saw Q2 gross domestic product growth of an annualized 3.3%, above the 2.7% forecast.  The gains were attributable to exports growth and increased consumer spending.  Also, the core personal consumption expenditures price index was unchanged at 2.1%, still above the Federal Reserve’s

EURO The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4670 level and was capped around the $1.4810 level.  Data released in the U.S. today saw Q2 gross domestic product growth of an annualized 3.3%, above the 2.7% forecast.  The gains were attributable to exports growth and increased consumer spending.  Also, the core personal consumption expenditures price index was unchanged at 2.1%, still above the Federal Reserve’s

EURO The euro moved higher vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4775 level and was supported around the $1.4630 level.  Different factors led to gains by the common currency. First, tropical storm Gustav is nearing the U.S. oil-rich gulf region and chased NYMEX crude oil futures for October delivery above the $119 handle, leading to U.S. dollar weakness.  Second, the U.S. Federal Deposit Insurance Corporation reported more U.S. banks

EURO The euro moved higher vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4775 level and was supported around the $1.4630 level.  Different factors led to gains by the common currency. First, tropical storm Gustav is nearing the U.S. oil-rich gulf region and chased NYMEX crude oil futures for October delivery above the $119 handle, leading to U.S. dollar weakness.  Second, the U.S. Federal Deposit Insurance Corporation reported more U.S. banks

EURO The euro moved sharply lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4570 level and was capped around the $1.4760 level.  The common currency reached its lowest level since 14 February as traders continued to scale back their expectations concerning regarding eurozone interest rates, especially as EMU-15 economic data continue to weaken.  Data released in the U.S. today saw July new home sales climb 2.4% to an annualized 515,000 rate,

EURO The euro moved sharply lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4570 level and was capped around the $1.4760 level.  The common currency reached its lowest level since 14 February as traders continued to scale back their expectations concerning regarding eurozone interest rates, especially as EMU-15 economic data continue to weaken.  Data released in the U.S. today saw July new home sales climb 2.4% to an annualized 515,000 rate,

EURO The euro moved lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4695 level and was capped around the $1.4805 level.  Technically, today’s intraday high and low were around the 38.2% and 76.4% retracement of the move from $1.4630 to $1.4910, respectively.  The common currency was on the defensive for a couple of reasons. First, U.S. July existing home sales were up 3.9% to an annualized 5.0 million rate, possible evidence the beleaguered

EURO The euro moved lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4695 level and was capped around the $1.4805 level.  Technically, today’s intraday high and low were around the 38.2% and 76.4% retracement of the move from $1.4630 to $1.4910, respectively.  The common currency was on the defensive for a couple of reasons. First, U.S. July existing home sales were up 3.9% to an annualized 5.0 million rate, possible evidence the beleaguered

EURO The euro moved lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4790 level and was capped around the $1.4910 level.   Technically, today’s intraday low was right around the 38.2% retracement of the move from $1.4630 to $1.4910.  The U.S. dollar gained some ground after state-run Korea Development Bank indicated it may target Lehman Brothers in an acquisition.  Traders await a speech from Federal Reserve Chairman Bernanke later

EURO The euro moved lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4790 level and was capped around the $1.4910 level.   Technically, today’s intraday low was right around the 38.2% retracement of the move from $1.4630 to $1.4910.  The U.S. dollar gained some ground after state-run Korea Development Bank indicated it may target Lehman Brothers in an acquisition.  Traders await a speech from Federal Reserve Chairman Bernanke later