The dollar recovery against the euro was for very short time. Although the good U.S. fundamental data include higher inflation and almost stopping fall of new housing starts the dollar lose the gains within 4-hours time. The traders continue to consider the euro as very attractive currency and buy at any better levels. The record oil prices above $100 make the traders very nervous. The dollar recovery during the early U.S. morning to 1.4613 but very fast lose 100 pips and at the moment is trading at 1.4717 one hour before the U.S. close. The latest U.S. economic events should be considered as positive but the fears in the investors together with the record oil prices send new negative signals for the dollar. In the coming few days the oil will hold the trading levels above $100 while the dollar will be under pressure elsewhere said Peter Mill expert in World-Signals.com.
Join the Discussion