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Russia Announces the Aussie as a Reserve Currency
January 27, 2012Aussie gains in currency trading The Aussie is rising today, thanks to newfound popularity with the Russians. The Russian central bank deputy minister announced that the Australian dollar will be used as a reserve currency going forward. Indeed, Russian announced that the Aussie will begin being used as a reserve currency possibly in February. This [...]
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Japanese Yen Gains Against Majors in Currency Trading
December 30, 2011Yen in forex trading The Japanese yen is gaining against other majors in currency trading on the FX market today. Concerns about what’s next for the eurozone has the currency market acting a little differently than normal. Usually, with equities higher, the yen would be lower as forex traders turn to high beta currencies as [...]
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Risk Appetite Keeps Dollar Lower in Currency Trading
December 16, 2011Greenback lower in forex trading Risk appetite is keeping the US dollar lower in currency trading today. Even though there has been some lackluster data, and even though there are still fundamental issues plaguing the eurozone, the dollar is nevertheless struggling in forex trading. Gold prices are rising again, heading back toward the $ 1,600 [...]
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US Dollar Looks for Gains in Currency Trading
December 12, 2011Greenback higher on safe haven demand Forex traders are looking for a safe haven currency trading, thanks to concerns about what could be next for the eurozone. With worries about solutions to short-term problems facing the region, along with the possibility of downgrades for many of the eurozone countries, it is little surprise that the [...]
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US Dollar Plummets as Central Banks Coordinate Efforts
November 30, 2011Greenback in currency trading The US dollar has plummeted in forex trading on the currency market today, following a coordinated effort by some of the world’s major central banks to increase liquidity. The Federal Reserve, European Central Bank, Bank of Canada, Bank of Japan, Swiss National Bank and Bank of England, have all decided to [...]
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Dollar Drops in Currency Trading as Risk Appetite Improves
November 28, 2011Greenback lower in forex trading The dollar is down in currency trading on the FX market as risk appetite improves today. Even though the OECD believes that the eurozone is in a mild recession, the euro is surging in forex trading. Indeed, many forex traders are optimistic about the future — at least for now [...]
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Canadian Dollar Struggles in Currency Trading
November 26, 2011Loonie forex trading forecast Canadian dollar is lower in currency trading today, ending the week down against the US dollar as concerns in Europe send forex traders to the relatively safety of the US dollar. Even slightly higher oil prices haven’t been able to help the loonie in forex trading today. So, for now, the [...]
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Wen Jiabao Promises to Allow More Yuan Flexibility
November 21, 2011Yuan could become a free floating currency Chinese Premier Wen Jiabao has promised US President Barack Obama that the yuan will soon have more flexibility on the currency market. Over the weekend, Chinese TV reported that Wen told Obama that China would pursue a gradual, orderly, policy of allowing the yuan to appreciate against the [...]
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Yen Spikes in Forex Trading
November 14, 2011Yen in currency trading The yen is spiking against major currency counterparts in forex trading today. The news that Japan’s GDP grew quite a bit in quarter 3 has been helping, but a lot of it has to do with risk aversion and flight to safety. Japan saw an increase of 6%, quarter over quarter, [...]
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China Pledges to Move Currency Closer to Market Float
November 5, 2011Yuan set to appreciate over time Chinese leaders have expressed their commitment to moving the yuan (also called the renminbi) closer to becoming a free floating currency. China has said that it will adjust its currency peg a little bit in order to more closely reflect its "true" value. (Even so, some still say that [...]
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Canadian Dollar Turns Lower in Currency Trading
October 30, 2011Forex trading with the loonie Canadian dollar is heading lower in currency trading, after heading higher earlier. U.S. dollar’s bearish momentum seems to be disappearing as investors look for direction. There are second thoughts about the plan presented by the eurozone to contain the sovereign debt that seems to be spiraling out of control. Yesterday, [...]
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Euro Pulls Back in Forex Trading. Whats Next for Eurozone?
October 28, 2011Euro forex trading forecast Euro is pulling back in forex trading on the currency market today, moving lower as investors and others re-evaluate their enthusiasm for the sovereign debt plan announced yesterday. Now that the initial euphoria is over, forex traders are looking into the details — or lack of details — regarding the plan. [...]
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Loonie Heads Higher in Forex Trading
October 24, 2011Canadian dollar in currency trading The loonie is heading higher in forex trading on the currency market, gaining as the U.S. dollar heads lower. Canadian dollar is getting a boost in currency trading today as risk appetite makes something of an appearance. Global equities are higher, and that is helping risk in general. Additionally, economic [...]
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Japanese Yen Soars Against U.S. Dollar in Currency Trading
October 22, 2011Yen surges forward in forex trading Japanese yen suddenly surged in currency trading on the FX market against the U.S. dollar today, heading higher and breaking out of the narrow range the USD/JPY pair had been trading in. Part of the reason is probably due to general dollar weakness right now. Rumors are swirling that [...]
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Risk Aversion Returns to Currency Market
October 12, 2011U.S. Dollar gains in forex trading Risk aversion has returned to the currency market as concerns about the fate of the eurozone bailout fund move to the surface. Additionally, there are concerns about what’s next for the global economy at large. With OPEC cutting the oil forecast, citing weak demand due to a slowing global [...]
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Aussie Climbs Higher in Forex Trading
October 10, 2011AUD/USD gains in currency trading Aussie is climbing higher in forex trading on the currency market today, gaining as risk appetite continues to make a strong appearance, continuing from last week. AUD/USD is also getting a boost in currency trading from gold prices. Indeed, with gold on the rise, and Aussie a commodity currency connected [...]
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US Dollar Gains in Currency Trading
October 6, 2011Dollar index rises The US dollar is gaining in currency trading on the FX market as concerns about what’s next rise. A lot of the dollar’s strength is coming as a result of what is happening in Europe right now. Riots in Athens are once again highlighting sovereign debt troubles. Greece is going to miss [...]
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Aussie Loses Ground in Forex Trading
October 3, 2011AUD/USD lower in currency trading The Australian dollar is losing ground in forex trading on the currency market. Once again, the U.S. dollar is mostly higher in currency trading across the board, and the Aussie is one of the currencies down against the greenback. Not even an improved gold price can help AUD/USD today. However, [...]
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Euro Continues Recovery in Forex Trading
September 28, 2011Euro gets boost on currency market The euro is continuing to see a recovery in forex trading on the currency market today. Hopes for stability in the euro zone are rising, and European leaders are hastening to indicate that they believe the sovereign debt crisis will be resolved. Also helping risk appetite on the currency [...]
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Aussie Gets a Boost in Currency Trading
September 20, 2011RBA minutes help Australian dollar in forex trading Aussie is getting a boost today, thanks to the latest minutes released by the RBA. The latest minutes indicate that members of the council overseeing Australia’s interest rate are more hawkish than thought. As a result, there is an expectation that the RBA will begin raising rates [...]