Dollar Holds Steady Despite Dows Drop
Weak Economic Data - No Surprise
US Exiting Home Sales and Jobless Claims pushed the equity markets over a cliff on Thursday with the DOW Industrials closing down almost 300 points. But the Greenback held steady.
Friday Has More News Ahead
Durable Goods, Consumer Sentiment and New Home Sales will be news to watch coming out Friday morning.
Above and Below the US
The Daily Chart above shows Australian vs US Dollar shows a nice up trending channel with price at support.
Australia - Above and Below the US at Support
Australia Coming Up Strong vs Canadian Dollar - For How Long?
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do you think the dollar will weaken further? some of my colleagues think it will slide much further before it reaches the bottom. i'd be keen to hear your view on it.
Posted by: Forex Trader | July 25, 2008 at 12:01 PM