The second release of GDP for Q1 left the growth rate unchanged at 1.8%, falling short of expectations for an upwards revision to 2.2%. Weekly jobless claims also disappointed, rising to 424K. The “safe haven” yen and the Swiss franc are the biggest gainers. EUR/USD is now climbing towards 1.42. GBP/USD is moving higher towards the high of 1.6330 seen earlier in the day. The moves are stronger in the Swiss franc and the Japanese yen: USD/CHF is now at 0.8675. USD/JPY fell to 81.57, erasing previous gains. Given recent updated figures for the first quarter of 2011, there were high expectations for a upwards revision. The previous falls in jobless claims after a leap to 474K a few weeks ago also made some thinking that claims could return to sub 400K levels. We have a repeat of the first release of GDP, which was also published on a Thursday, and also saw a disappointing unemployment claims figure. The rise of safe haven currencies, the yen and the franc are due to fears that this serious US weakness will drag the whole world down. Earlier in the day, the dollar fell and the Euro strengthened as China pledged to support the troubled Euro-zone countries by buying bonds. Spanish bond yields continued lower, and this helped the common currency make gains. But the troubles are far from over. For more on the Euro, see the EUR/USD forecast. 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 EUR/USD and USD/CHF Technical Analysis Yohay Elam 12 years The second release of GDP for Q1 left the growth rate unchanged at 1.8%, falling short of expectations for an upwards revision to 2.2%. Weekly jobless claims also disappointed, rising to 424K. The "safe haven" yen and the Swiss franc are the biggest gainers. EUR/USD is now climbing towards 1.42. GBP/USD is moving higher towards the high of 1.6330 seen earlier in the day. The moves are stronger in the Swiss franc and the Japanese yen: USD/CHF is now at 0.8675. USD/JPY fell to 81.57, erasing previous gains. Given recent updated figures for the first quarter of 2011, there were… 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.
