Daily Forex Commentary for July 16, 2009

July 15th, 2009 • Related • Filed Under




July 16, 2009

Euro Needs to Break Through 1.4200 to Keep Pressure on Dollar

The EUR USD traded higher throughout the day driven by increased appetite for risk. Global equity markets also traded better which led investors to seek higher yields in more risky currencies like the Euro.

Stock futures markets led by the S&P 500 Index were sharply higher boosted by strong earnings from Intel Corp. and Goldman Sachs. The recent data releases and earnings reports out of the U.S. have been buoying equity markets while putting pressure on both …
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