Daily Forex Commentary for 022609

March 14th, 2009 • Related • Filed Under




February 26, 2009

U.S. Dollar Regains Safe Haven Status on Surprise Drop in Home Resales

Today’s report on sales of U.S. previously owned homes showed a surprise drop sending the stock market lower and the Dollar higher while rekindling fears that the recession will get worse before it gets better. The unexpected drop came after the pre-report consensus indicated that home resales would rise because bargain hunters were expected to have taken advantage of the large number of homes available because of foreclosure.

Overnight trading was mixed in reaction to …
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