Day: October 9, 2008

October 9
2008

Third Day of Growth on EUR/USD

EUR/USD is growing for the third day straight now. Although the gains are quite modest, the divergence indicators show that the current correction may turn into quite a large bullish wave for this currency pair. EUR/USD is currently trading at 1.368 — a gain of 37 pips from the today’s open. Initial jobless claims posted an expected drop last week — they fell from 498,000 (upwardly revised […]

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October 9
2008

Yen’s Gains Reverse after Massive Rate Cut

The Japanese yen fell against other major currencies today after reaching record highs yesterday as the massive rate cut by the world’s major central banks inspired some confidence in the stock markets. The yen also declined versus its traditional carry trade counterparts — such as Australian and New Zealand dollars. Not like the carry trade began to attract the investors again, but […]

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