Tuesday, May 26, 2009

U.S. markets flew; Dollar weakened losing early gains

FXstreet.com (Córdoba) – Wall Street rose today. The Dow Jones Industrial Average finish up 2.37% and Nasdaq climbed 3.45%. A report that showed an increase in consumer confidence stimulated investors. Gold fell for the first session in five. The dollar lost part of previous gains and fell across the board during the American session. It ended near multi-month lows against GBP, CHF and EUR.

EUR/USD is down 0.17% for the day but raised 70 pips during the American session. The pair fell before the opening bell in Wall Street to 1.3860 but it was rejected from the zone. Then tested 1.4000 several times but couldn’t break above.

GPB/USD reached new six-month high at 1.5968 and then spent the session in a range between 1.5915 and 1.5960. Current price at 1.5925 is one pip above the opening price of the day.

USD/CHF is practically at the same price as it was at the beginning of the day. The pair tested multi-month low at 1.0810 but failed to break below. The dollar fell from 1.9030 after reports that showed an increase in consumer confidence.

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