Dollar Hits a 7 Week Low
July 23, 2009 by Trace
Filed under Trading in the Market
The dollar hit a seven-week low versus a basket of major currencies on Wednesday as steady stock markets and data showing stronger U.S. home prices offset weak bank earnings, denting the greenback’s safe-haven allure.
Gold is quiet and trading at 952.00 unchanged. Silver is 13.75 up 5 cents, platinum is now 1173.00 down 2 dollars and the Euro is 142.20 down 10 points.
The Nasdaq rose on Wednesday for the 11th straight day, buoyed by solid profits from Apple Inc and Starbucks Corp,while disappointing bank results and declining energy shares weighed on the broader market.
DATA EVENTS * The following data is expected on Thursday: – French business climate for July – Euro zone current account data for June – UK retail sales for May) – Weekly U.S. jobless claims – U.S. existing home sales for June.
