After the Christmas Holiday markets are rejoining the last trading days of this abysmal year, while as we head closer to the end the prayers are slimming further for a change of pace for the signs of a deepening recession continues to grow and the agony prevails pressuring pessimism to… Read More …
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Asian trading today was very thin across asset classes ? currencies no exception to the end of year markets that reign. Despite this, a wealth of data has been driving sentiment along with continued fears of recession in the U.S send the dollar lower. The EURUSD traded up from 1.4090… Read More …
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After last week’s extended bout of holiday trading, the Euro jumped into a rallying position quickly today on the events in Israel and the Palestinian territories over the weekend. Spot gold also continued rallying well above its 200-day moving average. The Euro is now trading at an all time high… Read More …
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The dollar depreciated in the markets ahead of scheduled housing data for tomorrow projected to show further weakness in the housing market while investors remain highly sensitive to any data from the housing sector as this was the start of the downfall in the U.S. economy. Also the dollar is… Read More …
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It has been an extremely volatile week in the currency market. On Monday, the EUR/USD was trading at 1.3364 and shortly after the European open on Thursday it hit a high above 1.47. However since then it has reversed violently to end the week back at 1.39. This type of… Read More …
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The US dollar rebound continued on Friday as the White House announced a $17.4 billion bailout for GM and Chrysler. The move will leave the firms with $13.4 billion to be paid out in December and January, while the last $4 billion must be approved by Congress since it would… Read More …
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The dollar gained substantially against most of the majors recovering most of this week’s losses. The EurUsd sunk over 360 pips to the high range of 1.38, while the UsdJpy was mostly flat up only 7pips to mid 89 price area. The GbpUsd dropped an additional 160 to the mid… Read More …
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The dollar rallied against most major currencies for a second day. Despite the two-day rally, the greenback has recovered only part of its sharp declines as the Fed interest-rate cut to a historic low is making the dollar outlook more bearish. The White House announced it will give US auto… Read More …
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The Dollar-yen pair fell overnight but recovered its losses in NY trading. There were two big pieces of news as the Bush administration said it would extend an initial $13.4 billion in loans to GM and Chrysler with an additional $4 billion likely in February in order to bailout the… Read More …
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Representative Barney Frank wants to make release of the remaining $350 billion TARP funds conditional on helping more homeowners avoid foreclosure. ?We should have an agreement among Obama, Paulson and the congressional leadership to release the $350 billion with conditions on how it?s spent,? Frank said. ?We need the second… Read More …
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