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Day: October 19, 2010
October 192010
Bank of Canada Keeps Interest Rates Unchanged, Loonie Down
The Canadian dollar dropped today after the Bank of Canada left the overnight rate unchanged and as China raised its interest rates, damping the demand for the growth-related currencies. The Bank of Canada kept its benchmark overnight rate at 1.0 percent. Such decision wasn’t unexpected and was predicted by the analysts, who now think that the Bank may keep the rates unchanged for a prolonged period of time. The Bank said in its statement: At this time of transition […]
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October 192010
Chinese Interest Rates Hike Drives Loonie Down
One of the riskier currencies, crippled by the Chinese interest rates hike, was the Australian dollar, which slumped today against its US counterpart after trading at parity last week. The increase of the interest rates is considered to be the attempt of the Chinese policy makers to slow the growth. The slower China’s growth isn’t particularly good for Australia, as China is the nation’s biggest trading partner. Earlier the Aussie surged as the Monetary Policy Meeting Minutes […]
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October 192010
Dollar Strengthens as China Rises Interest Rates
The US dollar strengthened today against all other currencies as the demand for the higher-yielding currencies slumped after the unexpected interest rates hike in China. The subsequent sell-off boosted the dollar and crippled other currencies. The greenback also strengthened after Timothy Geithner, the US Secretary of the Treasury, said yesterday that the policy makers would attempt to preserve the strength of the US currency and aren’t planning the devaluation. EUR/USD fell from the opening level of 1.3935 to 1.3810 […]
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October 192010
ECN Forex Broker with SUV Name 4RunnerForex
4RunnerForex is the new ECN/MetaTrader Forex broker launched by a company from BVI. It’s notable for allowing both web-based and MetaTrader trading, while the MT4 accounts have a choice of ECN execution and fixed spreads. It’s also notable for its name, which strongly reminds me of one Toyota SUV. Other trading conditions are rather standard for the unregulated MetaTrader brokers — start from $100, micro-lots, up to 1:200 leverage, very […]
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