Monday, April 30, 2007

Greenback Strengthens Early Monday In New York, Monday, April 30, 2007 5:19:06 AM

The US dollar showed strength early Monday across the board. The European session of the day so far moved on the releases like the German retail sales, the euro-zone M3, and the BBA mortgage approvals data-all for the month of March. The Euro-zone business climate indicator for April was released at 5:00 am ET.

Gains of the US currency during the early Monday deals helped the buck regain its early Friday`s highs across the board. The GDP report from the US had weakened the dollar against all it major counterparts early Friday in New York.

The market is now waiting for the British GfK consumer confidence data for April, which is expected at 5:30 am ET. Later in the morning, the US personal income and expenditure data for March and Chicago purchasing manager`s index for April are expected.

The euro was worth 1.3646 dollars at midnight, and the dollar moved higher into the early deals on Monday. German and the euro-zone data release weakened the common currency against the greenback during the session. As of 5:10 am ET, the pair traded at 1.3601.

The US dollar traded higher against the British currency during Monday`s early deals in New York. The pair moved down from its midnight close of 1.9963 until reversing the trend at 2:30 am ET. At 3:00 am, the pair equaled the midnight level, but lost the ground again. As of 5:10 am ET, the pair traded at 1.9900.

The US dollar moved sideways in a tight range into the early deals on Monday in New York. The pair then edged lower into a session`s low of 119.38 by about 2:35 am, and after that, it strengthened. As of 5:10 am ET, the pair equaled 119.66, which may be compared with 119.54, the midnight close of the pair.

The US currency moved sideways into the very early hours on Monday in New York. The pair gained ground at 1:25 am ET, and moving from 1.2043 the pair 1.2093 at 5:10 am ET.
Copyright © 2007 All Rights Reserved.


Post a Comment

<< Home