Day: October 3, 2008

October 3
2008

Dollar Shows 5th Day of Gain Despite Employment Drop

EUR/USD continued to fall today for the fifth day in a row even as the employment reports from the United States showed a dramatic decline. It looks like the raging recession in U.S. is a real problem for everyone except the dollar. Maybe, because the traders prefer to convert into treasuries when the market turbulence is highly active. Non-farm payrolls declined by 159,000 in September following 73,000 drop in August. Market […]

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October 3
2008

Australian Dollar Has Worst Week Since 1985

The Australian dollar posted the biggest weekly loss since 1985 against the U.S. dollar this week, as the traders dumped their positions in the high interest rate currencies, while the situation with the global financial system remained uncertain. The reduction of the carry trade positions (trade technique that is based on gaining positive interest rate difference through the holding of a long position […]

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