Let's to see what's happen on forex market...
The Euro-Zone's economic woes don't seem to be running out of steam as the EUR continued its fall during yesterday trading session against most of its currency counterparts. Overall there seemed to be a lack of impactful data releases coming out of the Euro-Zone compared to the average week. Despite the fact that most economic indicators came out slightly better than forecasted, the EUR continued to fall from fears of economic weakness and recession....
U.S.Dollar Trading (USD) found strength in adversity gaining against most currencies on the back of increased risk aversion. Safe haven flows and deleveraging continued to offer strong short term support for the USD. News that GM would need a bailout before the end of the year left stocks very weak. Also of note was a new Home borrower plan launched by Fannie and Freddie to stem foreclosures. In the U.S. share markets, the NASDAQ was down 35 points (-2.22%) and the Dow Jones was down 176 points (-1.99%). Crude Oil closed down $59.33 ending the New York session at $59.33 per barrel...
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