Day: November 28, 2007

November 28
2007

Dollar Bouncing Up

U.S. Dollar gained 0.5% against euro today after the Abu Dhabi government bought a $7.5 billion stake from Citigroup Inc. This sum will help Citi to recover from the recent subprime lending write-offs, as this bank announced surprisingly high losses from this kind of lending. EUR/USD fell below 1.4800 mark after a good fundamental signal […]

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November 28
2007

Chinese Yuan on the Road to Revaluation

Chinese yuan will definitely see a some kind of revaluation against dollar and other major currencies soon. Jean-Claude Trichet spoke today about his latest endeavor to convince China government to make confident steps towards stronger yuan policy. From his words the Chinese central bank understands the concerns of their trade partners and the steps will […]

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November 28
2007

EUR/USD Retraces After Bad Fundamentals

EUR/USD seemed almost completely independent of the important fundamental indicators which were signaling the worsening economical situation in USA. EUR/USD was falling by more than 100 pips during the day, but then it returned to a more moderate loss — 50 pips. Manufacturers’ durable goods orders in October 2007 decreased by $0.9 billion which is 0.4% the previous month value. The consensus forecast for this value was at 0%, meaning […]

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