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Day: May 2, 2008
May 22008
Kuwait: GCC to Abandon Dollar
Kuwaiti Finance Minister has said that the Gulf Cooperation Council countries, U.A.E., Qatar and Bahrain specifically, are planning to scrap their currencies peg to dollar soon. Mustafa Al Shimali is confident that other Middle Eastern countries will be doing what Kuwait has done in May 2007. Recently financial officials from the United Arab Emirates stated that depegging is not in the countrys interest, while […]
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May 22008
NorthFinance and WestCapFX Endorse FxPro
NorthFinance and WestCapFX recently stopped accepting new Forex trader registrations and are now officially redirecting new members to a very new but employing an aggressive marketing strategy Forex broker FxPro. It looks like the company behind NorthFinance and WestCapFX decided that it would be better to consolidate their business and offer one «universally good» broker rather than two different decisions for two […]
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May 22008
EUR/USD at Monthly Low on Nonfarm Payrolls
EUR/USD broke down through 1.5400 mark today and reached the minimum level since the 24th of March as the employment fundamentals showed some improvement compared to the March results. Dollar managed to strengthen also against pound and yen even with objectively bad macroeconomic results. Nonfarm payrolls one of the main indicators of the U.S. economys health decreased 20k in April. Thats a lot better than the […]
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May 22008
Yen Falls for Second Day as Stocks Bloom
Today the yen fell for the second day in a row on Forex as the stock markets rallied and the traders looked for the more high-yielding assets, selling the Japanese currency for dollar and other risky currencies. Although, the U.S. dollar is also heading for the second weekly gain against the Japanese yen, JPY declined mostly against such carry trade […]
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