Wednesday, 31 August 2011

USD Gains vs. EUR & CHF, Falls vs. JPY

The U.S. dollar managed to gain against the euro and Swiss franc today, but fell against the Japanese yen as traders left the bases mixed doubt about the prospects for the U.S. currency.

The Standard & Poors Case-Shiller index of home prices fell 4.5 percent in June from a year-over-year basis. That's a better result than the 4.7 percent decline forecast and falling 4.6 percent in May. On the other hand, consumer confidence Conference Board was far worse than forecast, from 59.2 in July to 44.5 in August, while analysts expect the index to be removed only to 52.1.

Reports of tomorrow are not good for the dollar is. The ADP employment report is expected to show slower growth of Americans employed by 102,000, compared with growth in July by 114,000. Economists say that the Chicago PMI showed a fall to 54.3 in August from 58.8 in July.

EUR/USD went down from 1.4510 to 1.4444 as of 21:05 GMT today, while intraday it touched the low of 1.4382. USD/JPY dropped from 76.84 to 76.73, while USD/CHF advanced from 0.8156 to 0.8201.

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