The USD strengthened on Friday as economic releases were positive
Saturday, May 16, 2009
According to latest Forex updates on Friday the USD strengthened as economic releases were positive, the equity markets lowered on the comments of FDIC Chairman Sheila Bair that the heads of some banks may be replaced.
A stronger shrink in the European economy led the Euro towards a downfall, the worries about the Canadian financial system propelled the CAD higher and although Swiss retailing strike the expectations, the Swissy got elevated on the concerns about the central bank intervening in the currency.
Except of the Japanese yen the USD closed stronger against all of the other major currencies, in this week. On Friday the Euro (Euro/USD) fell 150 pips as the European economy contracted the most in 13 years, recovery will be slower than expected.
On Friday there were no U.K. economic releases and the pound (GBP/USD) actually held up nicely in opposition to the USD. The pair lost 70 pips on Friday but traded within the range we’ve seen all through the week.
A stronger shrink in the European economy led the Euro towards a downfall, the worries about the Canadian financial system propelled the CAD higher and although Swiss retailing strike the expectations, the Swissy got elevated on the concerns about the central bank intervening in the currency.
Except of the Japanese yen the USD closed stronger against all of the other major currencies, in this week. On Friday the Euro (Euro/USD) fell 150 pips as the European economy contracted the most in 13 years, recovery will be slower than expected.
On Friday there were no U.K. economic releases and the pound (GBP/USD) actually held up nicely in opposition to the USD. The pair lost 70 pips on Friday but traded within the range we’ve seen all through the week.
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