Daily Forex Commentary December 29, 2009

December 29, 2009

Friendly Consumer Confidence Report Underpins Dollar

The U.S. Dollar managed to hold on to its gains after erasing earlier losses following the release of a friendly Consumer Confidence report. Although the reported figure of 52.9 was
slightly less than estimates, it still reflected continuing strength in the economy. This morning the S&P/Case Shiller report on home prices was flat. There was almost no reaction to this report
by Forex traders. Expect more of the same trading tomorrow as major players remain absent during the holiday week. …

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