Day: February 12, 2009

February 12
2009

EUR/USD Declines for Third Day on Better than Expected Retail Sales

EUR/USD is currently showing a third daily decline and the second-largest daily drop since February 4 on the Forex market today as some macroeconomic reports in U.S. showed that the world’s largest economy isn’t that bad yet. EUR/USD is now trading near 1.2810. Initial jobless claims were down from 631k (revised from 626k) to 623k last week, while economic strategists predicted 610k claims. Retail sales […]

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February 12
2009

AUD Falls as Stimulus Plan is Rejected

The Australian dollar declined against the U.S. dollar, the Japanese yen and the euro today as the country’s senate refused to adopt the Prime Minister’s stimulus package worth of $27.4 billion. The Aussie has been growing recently after Kevin Rudd proposed fiscal and liquidity measures that would cost the budget A$42 billion but would gradually help the economy to recover. Traders were confident […]

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