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Day: January 31, 2008
January 312008
U.S. Dollar Regains Positions on Mixed Fundamentals
Today, EUR/USD lost a small part of the pips that were gained yesterday after the Fedâs interest rate cut by 0.50%. Even the bad employment statistics didnât prevent dollar from recovering from 1.4860 to 1.4814 against European currency. This can be also partially explained by the major resistance level that has formed near 1.4870 rate on EUR/USD. Personal income in December rose by 0.5% â better than […]
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January 312008
Bahrain, Kuwait, Saudi Arabia Cut Interest Rates
GCC states â Bahrain, Kuwait and Saudi Arabia â decided to cut their deposit rates from 3.50% to 3.00% today, following the yesterdayâs interest rate cut by the Federal Reserve. Based on the risk estimations for the economy recession and the recent negative macroeconomic statistics, FOMC cut the rate at its scheduled meeting yesterday from […]
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