Day: August 4, 2008

August 4
2008

CAD Loses on U.S. Economy Slowdown

The Canadian dollar continued its strong bearish trend today against the U.S. dollar as the currency traders began to realize that the commodity prices won’t hold up if the world’s biggest economy will continue to cool down. Market participants predict 17 percent drop for the Canadian dollar (also called loonie) against its U.S. counterpart by the end of 2009. In 2007 the USD/CAD declined 17 percent, breaking the […]

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August 4
2008

EUR/USD Trading Mostly Sideways Before FOMC Meeting Day

EUR/USD is little changed today even as some important statistical indicators are released in U.S., because traders are waiting for the FOMC interest rate policy statement that is scheduled for tomorrow. The currency pair opened at 1.5574 and is currently trading near 1.5603. Personal income rose 0.1% in June after 1.8% (revised down from 1.9%) growth in May. The consensus forecast for June was […]

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