Day: March 24, 2010

March 24
2010

EUR/USD at Minimum Since May 2009 on Portuguese Rating Cut

The Forex isn’t reacting on the macroeconomic indicators today as the markets are shaken by the cut of the Portuguese credit rating by Fitch agency. EUR/USD managed to reach it’s minimum level since early May 2009 as the Eurozone’s problems spur investors in moving funds into dollar-backed assets. The currency pair is now trading near 1.3318. Durable goods orders went up by 0.5% in February, following 3.9% growth a month earlier (revised positively […]

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March 24
2010

Canadian Dollar Retrieves Bullish Path

The Canadian dollar advanced for the first time this week this Tuesday, as markets with strong correlation with the loonie provided support for the currency to gain specially versus its U.S. counterpart, but as well as important currencies globally. After the loonie traded near parity with the greenback last week, the currency experienced a considerable fall as traders considered the rally excessive, specially after the crude oil ended the strongest rally in 2010 towards […]

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March 24
2010

Euro: Who Will Rescue Greece?

The European single currency declined sharply in a day of strong volatility this Thursday as neither Greek officials nor ECB officials have found a solution to solve Greece’s budget deficit’s issues, in a drama that have been lasting more than traders in the region could expect. Today, after important European leaders from multiple nation’s using the euro affirmed that a bailout for Greece would need the International Monetary Fund support, […]

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