US Dollar Mixed as Forex Traders Await Direction
US dollar is mixed today, performing differently against various majors as Forex traders await direction. There is economic data expected today, as well as a speech coming from Ben Bernanke.
Right now, there is a bit of anticipation in the air. Forex traders are waiting for the latest economic data out of the United States, as well as a speech fro the Federal Reserve Chair, Ben Bernanke. Right now, the US dollar is mixed in its performance against other currencies.
One of the biggest pieces of data coming out this morning is the September Purchasing Managers’ Index (PMI) from the Institute for Supply Management. On top of that, Ben Bernanke is going to be giving a speech in Indianapolis, and traders are very interested in what he has to say about Fed policy, and what could be coming next.
For now, the US dollar’s mixed performance includes losing ground to the euro. Even with news that some of Spain’s banks will need close to 60 billion euros in order to recapitalize, Forex traders are somewhat optimistic about Spain’s ability to receive aid.
At 12:44 GMT EUR/USD is up to 1.2897 from the open at 1.2849. GBP/USD is down to 1.6140 from the open at 1.6147. USD/JPY is up to 77.9830 from the open att 77.9450. USD/CAD is down to 0.9830 from the open at 0.9840.
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Earlier News About the US Dollar:
- US Dollar Pulls Back on Renewed Risk Appetite (2012-09-27)
- US Dollar Gains as Global Economic Fears Return to Focus (2012-09-24)
- US Dollar Stronger on Global Economic Fears (2012-09-20)
- US Dollar Gains as Uncertainty Returns to the Markets (2012-09-18)
- QE3 Leads to Fifth Weekly Drop of US Dollar vs. Euro (2012-09-15)