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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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China Cuts Reserve Requirement
November 30, 2011Aussie surges on Chinese decision While the rest of the world was focusing on the major central banks’ decision to increase dollar liquidity through swaps, China was quietly cutting its reserve requirement ratio. Effective Monday, the reserve requirement ratio is cut by 50 basis points. The news has been somewhat lost in the clamor over [...]
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Canadian Dollar Struggles in Currency Trading
November 25, 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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Euro Sinks in Forex Trading
November 25, 2011Eurozone closer to the brink Euro is moving much lower in forex trading on the currency market, heading down as concerns about what’s next for the eurozone worries investors and forex traders around the world. Today’s rating downgrade of Belgium by S&P has once again brought focus to the debt situation in Europe. Indeed, the [...]
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Euro Drops on German Bunds
November 23, 2011US economic data contributes to risk aversion The euro is heading lower in forex trading on the currency market today, dropping dramatically as concerns about sovereign debt in the eurozone take center stage — again. This time, the concern stems from the fact that Germany, a pillar of the eurozone economy, is starting to feel [...]
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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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Euro Plunges in Forex Trading
November 21, 2011French bond warning, other troubles, weigh on euro Euro is plunging in forex trading on the currency market, heading lower as risk aversion reigns. The latest French bond warning from Moody’s isn’t helping matters, and neither is continued talk supporting a eurozone break up in some quarters. Adding to the risk averse atmosphere is some [...]
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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 Imposes Conditions for Eurozone Debt Help; EU Leaders Say “No, Thanks”
November 11, 2011Euro higher in forex trading China, which has made assurances that it will help the eurozone in this time of debt crisis, has imposed conditions for its help on the debt crisis situation. The EU, however, has rejected China’s conditions, which include: Market economy status Lift of the arms embargo Larger say in the IMF [...]
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Stability Helps Euro in Forex Trading
November 11, 201117-nation currency heads higher on FX market Stability is helping the euro in forex trading on the currency market today. Today, the euro is higher, thanks to developments that many people are hoping will help the eurozone get back on track. Silvio Berlusconi is close to be out at Italian Prime Minister as the Senate [...]
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Aussie Drops in Forex Trading on Risk Aversion
November 9, 2011Eurozone worries send high beta currencies lower The Aussie forex trading forecast for the long term is a little uncertain, but for the short term, it looks as though weakness is likely to be the trend. AUD/USD is falling as concerns about what is happening in Europe result in risk aversion. Forex traders are looking [...]
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Italy Brings Out the Risk Aversion in Currency Trading
November 9, 2011Euro much lower in forex trading Euro is much lower in forex trading, heading down as the news out of Italy worsens. Even though Italian PM Silvio Berlusconi has agreed to resign, investors are not reassured. Yields on 10-year Italian bonds have surged beyond 7% as investors expected a default. The concerns about Italy, as [...]
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Japanese Yen Stronger Despite Last Weeks Intervention
November 7, 2011Yen in forex trading The Japanese yen is stronger in currency trading on the FX market today, even after last week’s intervention. The intervention was meant to weaken the yen in forex trading, and it worked — temporarily. However, the intervention failed to bring about a lasting weakness as hoped for by Japanese officials. Instead, [...]
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Euro Moves Lower in Forex Trading
November 7, 2011Eurozone stability concerns weigh on 17-nation currency It’s true that there is some relief over the latest developments in Greece. A coalition government appears to be a good bet when it comes to passing the austerity measures Greece needs to adopt to receive bailout help. However, that relief has been overcome by concerns about Italy. [...]
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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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Canadian Dollar Turns Lower in Currency Trading
October 28, 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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U.S. Dollar Turns Around and Heads Higher in Forex Trading
October 26, 2011Euro gives up some of its recent gains Earlier, the euro was higher in forex trading, as the world looked with optimism on the outcome of a eurozone summit. However, some of that optimism has faded a bit, and the euro is actually heading lower now. Indeed, the U.S. dollar is gaining the upper hand [...]
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Bank of Japan Considering Intervention as Yen Rises in Forex Trading
October 26, 2011Decision likely to wait until after eurozone outcome The Japanese yen is once again rising against the U.S. dollar in forex trading on the currency market. Safe haven investments, like the yen and gold, are in demand for now, thanks to concerns about what’s next for the eurozone. There are some expectations that eurozone leaders [...]
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Euro Inches Up in Forex Trading
October 24, 2011Euro forex trading forecast Euro is getting a bit of a near term boost as the European summit ends. However, even though the euro is getting some support in forex trading today, and risk appetite in general is making an appearance, it may not last. Manufacturing data indicates that the European economy may not be [...]
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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 [...]