Day: April 16, 2009

April 16
2009

Yen Rises as Recession Concerns Grow in Asia

An economic report showed that the Chinese economy had the slowest growth in almost a decade, this favored the yen against high-yielding currencies. Several factors pushed the yen up today against major currencies, it rose against the U.S. dollar on speculations that reports will show weakened numbers from the construction sector, combined with an increase for unemployment benefits claims. A report from the […]

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April 16
2009

Pound Surges as Confidence Grows in Financial Markets

The increasing confidence in Prime Minister Gordon Brown helped the pound to rally to $1.50 for the first time in three months. The pound sterling has been showing a significant rise against major currencies since the beginning of the year, if compared to the USD, it has strengthened 2.6%, and more than 8% against the euro. Polls in the United Kingdom show that the Prime Minister’s party, for […]

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April 16
2009

EUR/USD Forms a Doji Pattern

EUR/USD traded both down and up during today’s Forex session. The  U. S. fundamental reports didn’t bother the Forex market much; it just continued to move with the current risk-averting trend. EUR/USD is now trading near 1.3204. Building permits in U.S. were at a seasonally adjusted annual rate of 513k in March — down from 564k (revised up from 547k) in February. Housing starts were at 510k compared to 572k (revised down […]

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