U.S. Forex Market Commentary
EURO The euro moved sharply lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3990 level and was capped around the $1.4155 level. The common currency gaved back most of yesterday’s gains ahead of the long holiday weekend in the U.S. As expected, the European Central Bank kept monetary policy unchanged and ECB President Trichet reported interest rates remain “appropriate.” Trichet also said recent economic data indicate the global
Daily Currency Outlook
EUR/USD Commentary and Trade Ideas Unemployment in the Euro Zone and the US have reached a parity, both are now at 9.5%. The Euro’s fret that the German short work week really disguises their true unemployment rate, while the real US unemployment is understated because private contractors, who replaced employees, are not accurately measured in the numbers. Equities are trading lower on the lack of positive economic recovery news and that is helping the dollar. The initial nudge to the USD in