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Day: July 17, 2008
July 172008
Yuan Declines for a First Time since Monday
The Chinese yuan showed the first declining day since Monday on Forex today as the traders were driven by the speculations that the government will let national currency weaken slightly to support exporters. Yuan declined for the first time in last three days after release of the report that the GDP growth decreased in the second quarter of 2008. Such situation may trigger […]
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July 172008
Housing Sector Revival Causes Further Strengthening of USD
Dollar continued to grow today against its European counterpart as the housing construction data from U.S. appeared to be much better than expected. And although initial jobless claims and Philadelphia Fed index disappointed dollar bulls, EUR/USD went down from its daily high at 1.5893 to 1.5816 today. Housing starts were at 1,066k annual seasonally adjusted rate in June after 977k in May (revised up from 975k); […]
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