SubscribeDaily Forex Commentary for May 27, 2009
May 26th, 2009 • Related • Filed Under
May 27, 2009
Higher Consumer Confidence Report Weakens U.S. Dollar
The EUR USD recovered from early selling pressure but still closed lower for the session. Traders were selling the Euro overnight and seeking the safety of the U.S. Dollar after it was reported that North Korea tested an underground nuclear bomb and launched two missiles.
Early trading was down as investors waited to see if these events would turn into something prolonged. The uncertainty lasted until the U.S. released its Consumer Confidence report which showed a rise to its highest level …
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