By CountingPips.com
The US Dollar continued its slide in forex trading today against most of the major currencies. The dollar has lost ground to the euro, British pound, Australian dollar, New Zealand dollar, Swiss franc, Canadian dollar and Japanese yen at 4:11pm EDT according currency data by Oanda.
The US stock markets had another positive session today with the Dow Jones gaining by 108 points, the Nasdaq increasing over 30 points and the S&P 500 showing a 16 point gain. Oil traded higher to $72.34 while gold rose by $13.90 to $1018.90 per ounce.
US economic news releases today showed that August consumer prices increased by 0.4 percent while on an annual basis consumber prices are 1.5 percent below August 2008. Core consumer prices, excluding food and energy, rose by 0.1 percent in August and are 1.4 percent higher on an annual basis than August 2008 according to the Department of Labor report.
The US current account deficit shrank in the second quarter of this year to a $98.8 billion shortfall after a revised $104.5 billion deficit was realized in the 1st quarter according to the Department of Commerce.
Foreign demand for long-term US securities fell sharply in July to a total of $15.3 billion according to the Treasury Department. This important data to watch capital flows in and out of the US had totaled $90.2 billion long-term purchases of securities in June.
Today’s USD Index Chart – The US Dollar Index, the dollar versus a basket of currencies, conveys the continued decline the USD has been on and the index fell to its lowest point of the year today around the 76.15 level. The USD Index had made a 2009 high in early March at over a 89.60 reading.
USD Index – Daily Chart by MarketClub
