Over on the Forex market,
the Dollar index continued lower during yesterday’s session as
investors ran for safe-haven seeking other currencies. After a slight
pull back during the first half of the day, the Dollar dropped lower to find support on 80.50 points.
On
individual pairs the EUR/USD soared higher as investors poured their
money into this high yielding currency. Once must remember that despite
all the rate cuts the Euro-zone is still maintaining a high yield
compared to the U.S and the U.K.
Over
in England, economic news had a major effect as results and headlines
showed mixed signals. Retail sales for the month of May showed a
whopping increase, as the figure jumped by 0.9% compared to an expected
0.5%. Despite the slight improvement, the money supply showed a huge
drop in percentage while Standard and Poor’s shifted their outlook
regarding the economy from “stable” to “negative”. Investors are now
concerned that due to the depth of the problems in the UK, the economy
could be downgraded from their AAA status.
Read the full article at dodjit.com
the Dollar index continued lower during yesterday’s session as
investors ran for safe-haven seeking other currencies. After a slight
pull back during the first half of the day, the Dollar dropped lower to find support on 80.50 points.
On
individual pairs the EUR/USD soared higher as investors poured their
money into this high yielding currency. Once must remember that despite
all the rate cuts the Euro-zone is still maintaining a high yield
compared to the U.S and the U.K.
Over
in England, economic news had a major effect as results and headlines
showed mixed signals. Retail sales for the month of May showed a
whopping increase, as the figure jumped by 0.9% compared to an expected
0.5%. Despite the slight improvement, the money supply showed a huge
drop in percentage while Standard and Poor’s shifted their outlook
regarding the economy from “stable” to “negative”. Investors are now
concerned that due to the depth of the problems in the UK, the economy
could be downgraded from their AAA status.
Read the full article at dodjit.com
