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Day: February 24, 2010
February 242010
Loonies Decline Halted on Fed Comments, Oil Rebound
The Canadian dollar had a disappointing start this week as a combination of global pessimism and optimism exclusively to the U.S. economy declined appeal for currencies tied to growth, but today the loonie ended its losing trend on more favorable news for its currency outlook. The main driver behind the halt on the the CAD losing streak was a comment made by Federal Reserve Chairman Ben Bernanke affirming that the U.S. economy still needs low interest […]
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February 242010
EUR/USD Rises on Bernanke Dovish Statements
After the dollar gained in the beginning of the week as the U.S. economy provided traders with more optimism than in the Eurozone, the greenback slid today as Federal Reserve Chairman Ben Bernanke said that low borrowing costs shall remain in the country as long as the economy need them to surge, declining appeal for the dollar in forex markets. At the moment, the EUR/USD currency pair is at 1.3581. New home sales declined for another month reaching 309k in January, […]
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February 242010
Dollar Ends Rally on Interest Rates Comments
After gaining since the beginning of this trading session on speculations that a robust U.S. economy would provide grounds for borrowing costs to rise in the following months, the dollar slid as government officials stated otherwise. A comment made by Federal Reserve Bank of St. Louis President James Bullard suggesting that interest hakes may not be hiked this year in the United States impacted market sentiment towards the greenback, as Fed’s position […]
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February 242010
Speculations Regarding SNB Affect Franc
The Swiss franc advance has been a subject of great concern among central bankers in the tiny European nation as exporters are being affected by its high prices, raising speculations that the SNB is selling the currency to prevent its advances. The Swiss franc posted a sharp and abrupt decline versus most of the 16 main traded currencies this Tuesday, providing support for speculators’ thesis that the Swiss National Bank is selling […]
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