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Day: September 12, 2008
September 122008
Major Correction Wave Detected on EUR/USD
Dollar lost its gaining pace yesterday, but today a real correction came to the Forex market. Whether its a pure technical retracement or this movement has some fundamental basement, dollar has gained enough during the last month and can now retreat without leaving the long-term upward trend. EUR/USD is currently trading near 1.4101 level. Producer price index declined by 0.9% compared to the previous […]
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September 122008
Buy AUD for NZD Can be Next Big Trade Idea
The Australian currency may experience considerable gains against the New Zealand dollar soon as the New Zealands central bank showed commitment to the extreme rate cutting in the fear of recession, while Australian central bank may refrain from changing the rate for now. Over the next year, New Zealands interest rate may decline by as much as 1.28 percent according to the traders futures betting. Meanwhile, […]
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