Friday, August 13, 2010

FOREX-US dollar rises broadly on global growth fears

(Reuters) - The U.S. dollar rose against major currencies on Thursday, extending the previous day's gains, as an unexpected rise in U.S. weekly jobless claims and weaker-than-expected euro zone data spurred safe-haven demand.

The euro earlier slid to a three-week low against the dollar after figures showed Greece's economy shrank more than expected in the second quarter, while euro zone industrial production unexpectedly declined in June.

Separate data showed the number of Americans filing new claims for unemployment insurance unexpectedly rose in the latest week to its highest in nearly six months, the latest sign of a flagging U.S. economic recovery. [ID:nN11227633]

The U.S. and euro zone data followed a gloomier outlook from the Federal Reserve and weak Chinese data earlier this week, underscoring worries about the global economy and prompting investors to dump risky assets. (more)

*Zero to $1.7 Million in
Roughly 1.9 Yrs... Interested?

No comments:

Post a Comment