Daily Forex Commentary for October 28, 2009

October 28, 2009

Drop in Demand for Risky Assets Could Hurt Euro the Most

The U.S. Dollar finished mixed after a choppy trade on Tuesday. The Dollar began the day weak, but turned around following the release of mixed economic data. A sell-off in the stock market prompted traders to sell higher risk assets.

The Case-Shiller Housing Price Report and the Consumer Confidence report helped trigger the break in the stock market which turned the Dollar around before mid-session. The housing number showed an increase in prices while the consumer confidence …
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