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Sep 12th 2007
Euro sets All Time High as Dollar Sinks Further
forex insights 1 year, 3 months agoTags: Industrial Production, Interest Rate, Retail Sales.
Euro dollar sets all time high of 1.3914 against its US counterpart as sell-offs continues with the dollar. The debacle remains on whether the Fed will reduce interest rates next week.
With highly sensitive indicators releasing tomorrow (Retail Sales, Industrial Production, Market Sentiments), we should be able to confirm the weakness of the dollar before the Interest Rate announcement.
As for Euro, things seem to be pretty much on the smooth side with German Chambers of Industry and Commerce confirming that the US sub-prime issues has little effect on them and strong economic data releases such as Eurozone Industrial Production supporting the bull on Euro.
We probably won’t see much movements till tomorrow before the key releases on the dollar.
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