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Day: January 9, 2009
January 92009
Korean Won Declines on Rate Cut
The South Korean won continued to decline against the U.S. dollar today almost completing a third week of drop as the countrys central bank reduced the interest rate to the record low value. The decline in the global stock markets also helped the won to come down against the other currencies. Traders move out their investments from the Korean economy in fear of the recession. […]
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January 92009
EUR/USD Falls as Poor Non-Farm Payrolls Report Suggests Recession is Strong
EUR/USD declined today after two days of growth on the Forex market as the poor fundamental reports from the United States suggest a further slowdown of the economy and that the global recession is still active. EUR/USD is currently trading near 1.3517. Nonfarm payrolls fell by 524k in December — thats better than 533k lost in November, but still worse than the expected decline by 500k. The overall […]
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