The dollar has retreated on Thursday, following the release of several weaker than expected economic reports. Among the disappointing results was the downward revision to second quarter GDP and a larger than expected decrease in new orders for durable goods. The lone bright spot was the bigger than anticipated drop in initial jobless claims. In
The dollar is attempting to rebound at the end of the trading week, from the weakness of the previous trading session. The weekly jobless claims data was one of the main causes of yesterday’s decline, after the number of claims came in above expectations. The Spanish government and the European Commission are in talks over
The dollar has weakened in comparison to its major competitors on Tuesday, before the FOMC meeting begins on Wednesday. There has been speculation among investors that the Federal Reserve will announce further economic stimulus on Thursday, at the conclusion of its 2-day meeting. Fed Chairman Ben Bernanke’s press conference Thursday afternoon will also be closely
The dollar has retreated in comparison to its major competitors on Friday, after the release of the U.S. employment situation for August. The smaller than expected increase in non-farm payrolls and the unexpected drop in the unemployment rate disappointed investors. However, Thursday’s European Central Bank announcement of a new bond buying program continued to drive
The dollar weakened in early trade Friday, ahead of today’s speech from Fed Chief Ben Bernanke. The currency has reversed direction following the completion of the speech, after Bernanke did not announce a third round of quantitative easing. Expectations for further stimulus have been running high since the Fed released the minutes from its latest
