A look back at the past 24 hours of
The Dow Jones FXCM Dollar Index fell to a 9-day low in today's trading, as disappointing US GDP data may be eroding greenback traders' confidence ahead of the upcoming FOMC rate decision and the Non-Farm Payrolls releases.
Overnight trading between Tuesday and Wednesday, we heard that the
On the news that Euro-zone inflation slightly missed expectations for April, the Euro initially took a small dip to a 3-week low against the dollar before erasing all of those losses and eventually rising to a new daily high. The Euro gains may have been the result of the annual core inflation rate meeting expectations at 1.0%.
Finally, the US Dollar began its decline following the announcement that the US economy expanded by a mere 0.1% (annualized) in the first quarter, coming in severely lower than expectations for 1.2% GDP growth. USD/JPY dipped 30 pips on the release, and the dollar has continued to post losses in the