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Forex Pub Report, October 19, 2006 |
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The Euro continued to make up ground on the dollar today as it head to a day high of 1.2641. Spurred on by three US reports, the dollar headed down early today though made back some of the ground as the day progressed. The unemployment claims came in at 299,000, less than the expected 310K, the leading index came in at .1%, and the Philadelphia Fed Index came in much below the expected 7 at a low -0.7. The EUR/USD faces resistance at 1.2650 but if it breaches that level tomorrow look for it to challenge 1.2700 before the weekend.
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