Monday, February 28, 2011

Dollar recovers ground

Wall Street lost momentum after a strong opening. Main indexes are off session highs; the DOW is rising 0.35% and the NASDAQ is falling 0.41%, despite a decline in crude oil and positive economic data from the US. In London, the FTSE 100 lost 0.12% and in Germany the DAX gained 1.21%. Crude oil is retreating on Monday, trading at the moment around $98.00 a barrel while gold continues to move in ranges between $1,407 and $1,415.

In the currency market, Dollar managed to hold during the American session and trimmed losses in many crosses. EUR/USD retreated further and reached a session low at 1.3778; the Euro is still up for the day but off highs. GBP/USD is hovering around 1.6250, near daily highs and more than 150 pips above the price it had at the beginning of the day. USD/JPY failed to rise above 82.00 and is now pulling back, approaching 81.80.

The Loonie is outperforming the Kiwi and the Aussie and is rising in the market. USD/CAD reached fresh 3-year lows while AUD/USD and NZD/USD remained steady.

source: http://www.fxstreet.com

18 comments:

  1. Thanks for the great information.

    ReplyDelete
  2. As a Canadian I am def happy to see our dollar stay strong vs the USD.

    ReplyDelete
  3. I wonder how the lack of US budget is affecting global trading patterns?

    ReplyDelete
  4. would love some analysis along with the news, so those of us who aren't financially inclined are able to absorb this into our brains.

    ReplyDelete
  5. LOL Look at the loonie go! I guess Canada's economy has always been very strong though especially this time of year.

    ReplyDelete
  6. Yay! Slightly good news for us Americans!

    ReplyDelete
  7. i suggest to buy massive euros now :3

    ReplyDelete
  8. Its annoying that other currencies change value now when you need to exchange your money :/

    ReplyDelete
  9. It's all because of that damn Yeti inflation ;)

    ReplyDelete
  10. thanks for keeping me up to date

    ReplyDelete
  11. i love seeing the changes in currencies

    ReplyDelete
  12. im sure the dollar will make a comeback

    ReplyDelete
  13. always something to write about currency

    ReplyDelete