Following the weak consumer confidence release, the dollar fell almost against all currencies. The reason for the fall isn’t only the indicator – words about a nearing dollar crisis also contribute to the fall. EUR/USD and AUD/USD are at fresh highs. CB Consumer Confidence dropped to 48.5 instead of 52.5 that was predicted. This significant disappointment was accompanied by another bad figure: The Richmond Manufacturing Index dropped from 11 to -2, lower than +6 that was expected. A negative score means economic contraction. A bad sign indeed. Dollar Crisis? These figures triggered a dollar sell-off, that was already built by words from Yu Yongding, a former adviser to the Chinese central bank: “Such a huge amount of debt is terrible,” Yu said. “The situation will be worsening day by day. I think we are one step nearer to a U.S.-dollar crisis.” While not holding a position now, he probably wouldn’t speak out this way without consent from officials in Beijing. And there’s another ongoing theme: the imminent second wave of quantitative easing is looming over the dollar – more dollar printing, no matter what size will be announced, is going to hurt the dollar – devalue it. EUR/USD at new highs Euro/Dollar broke above 1.35 and also above 1.3530 and is now trading at 1.3542. The next lines are 1.37 and 1.3850. Below, 1.3430 and 1.3380 were left behind. EUR/USD is still within the uptrend channel that began in the middle of the month. AUD/USD is another big winner, ticking up to 0.9650, a new two year high. One currency that’s missing out of the party is the Pound – it does enjoy this fall of the dollar, but it began in a weaker position, after also Britain can face a similar QE plan as the US. Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Euro Tests, Canadian Weakness and Debt Worries in the Yohay Elam 12 years Following the weak consumer confidence release, the dollar fell almost against all currencies. The reason for the fall isn't only the indicator - words about a nearing dollar crisis also contribute to the fall. EUR/USD and AUD/USD are at fresh highs. CB Consumer Confidence dropped to 48.5 instead of 52.5 that was predicted. This significant disappointment was accompanied by another bad figure: The Richmond Manufacturing Index dropped from 11 to -2, lower than +6 that was expected. A negative score means economic contraction. A bad sign indeed. Dollar Crisis? These figures triggered a dollar sell-off, that was already built by… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.