Thursday, September 10, 2009

Important Slide for USD

Another bottom for the USD was reached as low borrowing costs spurred investors to sell off the Dollar and buy other assets. The USD index was at 77.002, after dropping on Wednesday as much as 0.7% to 76.803. Coming economic recovery spurs investors leave the greenback and try to trade other high profitable units as the greenback becomes highly unappealing to investors.

While the Federal Reserve stimulus measures helped pull the nation out of the recession, it also pumped an enormous amount of Dollars into the economy and with the continuous rise in the jobless rate the Fed is predicted to lift its interest rate soon.

Among important business events capable to make influence on the currency market are the release of the Trade Balance and the Unemployment Claims figures will be released on Thursday at 12:30 GMT.

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