Day: December 4, 2008

December 4
2008

Swedish Krona Near 5-Year Low on Rate Cut

The Swedish krona advanced it’s yearly low levels against the U.S. dollar today as the country’s central bank surprised the market participants with the biggest rate cut in the last 16 years to prevent the economy from contracting. The official repo rate was reduced from 3.75 percent to 2 percent by 175 basis points today. It exceeded the traders’ expectations that were aimed on 1 percent cut. The Riksbank […]

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December 4
2008

EUR/USD Up after Employment and Factory Orders Reports

EUR/USD rose today after posting a slight decline yesterday and trading in the negative zone for the most of the day as the ECB cut the interest rate and some mixed fundamental reports from U.S. arrived. EUR/USD is currently trading near 1.2794. Initial jobless claims unexpectedly fell in U.S. last week — from 530k (revised up from 529k) to 501k. According the forecast by the […]

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