Friday, June 29, 2007

Greenback Moves Sideways Against Singapore Dollar, Drops Heavily Versus New Zealand And Canadian Counterparts, Friday, June 29, 2007 6:00:30 AM

During the European session on Friday, the U.S. currency moved sideways against the Singapore dollar. On the other hand, the Greenback showed weakness against its New Zealand, Australian and the Canadian counterparts. However, in the Asian deals, the Greenback showed choppy trading versus the Kiwi, but it was down against the rest of majors.

The traders are now looking for the US personal income and spending for May, Chicago purchasing managers index for June and the University of Michigan`s consumer confidence survey for June which are slated later in the morning.

Against the Australian dollar, the U.S. currency drifted down in the early Asian deals on Friday. At about 9:20 pm Eastern Time Thursday, the Greenback picked some up pips but it edged down again soon after. The Greenback weakened further in the European session and as of 5:58 am Eastern Time, the pair collected 0.8504.

On late Thursday in New York, the U.S. currency lost ground versus the New Zealand Kiwi. However, the Greenback advanced slightly at 6:50 pm ET and then showed a choppy trend. The Greenback extended the same trend until it fell heavily again at about 2:30 am ET Friday. Currently the Greenback has been continuing its downtrend and it was worth 0.7736 as of 5:58 am Eastern Time.

The U.S. currency strengthened slightly against its Canadian counterpart during late Thursday in New York. But the pair gave back the gains in the Asian deals on Friday. The Greenback added to its losses in the European session also and as of 5:58 am Eastern Time, the pair fetched 1.0535.

Against the Singapore dollar, the Greenback dropped as the Asian deals started on Friday. The pair gained some momentum at 9:20 pm ET, but it lost ground again within an hour. The Greenback touched the 3-week low of 1.5310 at 10:55 pm ET Thursday and then traded sideways. Of late, the pair has been continuing the same trend and as of 5:58 am Eastern Time, traded at 1.5321.
Copyright © 2007 All Rights Reserved.


Post a Comment

<< Home