Forex Trading 03-06-2009 Wednesday
Kategorie: Dollar Forex, 03.Juni 2009
Ben Bernanke prsented during his speech before the Budget in Washington (USA) little news and insightful comments on the current situation. He reiterated his view that the recession later this year will be over, and at the same time warned against continuing waves of unemployment.
A recovery on the job market takes even more time and the US will face
a hard time on the job market. Bernanke's remarks did not give any
hints about the FED's future policy.
EUR / USD could not follow its recent upward trend on Wednesday, in spite of achieving a new annual highs at 1.4339.
The currency pair fell after worse-than-expected data from the euro zone to the 1.4155 low.
The Q1 GDP in the euro zone was revides downwards from -4.6% to -4.8%.
And the producer price index fell in April to -4.6% stronger than the consensus expected.
The
data from the U.S. were also too optimistic consensus estimates
characterized. The U.S. ADP report, the information about the jobs in
the private sector, recorded in May, a decline of 532,000 jobs.
The consensus expected a decrease of only 525,000 after -545,000 (revised from -491,000) in April.
The
industrial new orders in April rose by only 0.7% (consensus +0.9%). The
ISM services index showed an increase to 44.0 points in May, after 43.7
points in April.
At the end of European trade the EUR / USD was traded with a 1.4200.