Day: August 27, 2009

August 27
2009

Pound Remains Bearish on Business Sentiment

The pound is having a disappointing performance this week being traded today in the lowest level since June on concerns that new Chinese industrial regulations will reduce demand for British assets, affecting the already weakened U.K. currency. Today, to continue a sequence of negative reports in Great Britain, the business sentiment in the Kingdom had the sharpest decline for the second quarter in more than 2 decades, as the Bank of England is likely to extend its […]

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August 27
2009

Yen Gains on New Tax Law

The Japanese currency extended its weekly gains today on speculations that Japanese investors are bringing overseas investments capital back to the country to profit from a new tax law, making the yen to climb further in an already pessimistic scenario. Various factors provided support for the yen to gain for the third day in a row versus most of the 16 most traded currencies as today speculations indicated that last quarter’s GDP figures in the United States […]

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August 27
2009

GDP Revision Doesn’t Happen — EUR/USD Gains

EUR/USD reacted with a small drop immediately after the GDP release today but then retraced and is now trading with a considerable daily gain. The Q2 2009 GDP change value was expected to be negatively revised today but since the revision didn’t happen, traders react on a positive signal for the U.S. (and global) economy. EUR/USD is currently trading near 1.4269. U.S. real GDP decreased at an annual rate […]

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