Friday, October 2, 2009

Forex: Dollar back down Fri, Sep 25 2009

Consumer Confidence was revisited to the upside, reaching 73.5 for September, while New Home Sales come out 429K at from 433K previous month, also under expectations. Rising 0.7%, less than expected, U.S. stocks spike to the downside, and quickly reverse, still with no strong definitions.

Greenback tuned to the downside against major rivals, with GBP/USD back to the 1.6000 level, and EUR/USD approaching to key 1.4700 zone. USD/JPY fell back close to 90.00, and majors are attempting to regain the bullish strength against U.S. currency.

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