Day: February 7, 2011

February 7
2011

Norwegian Krone Declines on Manufacturing & Crude Oil Prices

The Norwegian krone weakened today, posting the fourth day of losses versus the US dollar, after the report showed that the manufacturing expanded less than was predicted and as the crude oil prices declined. The Norwegian manufacturing output expanded 2.2 percent in December from the previous year, frustrating the analysts who predicted the 4.2 percent gain. The futures on the crude oil declined 0.6 percent as the concerns about the impact of the unrest in Egypt on the oil supply […]

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February 7
2011

Aussie Retreats as Retail Sales Drops in Q4 2010

The Australian dollar weakened a bit today as the report showed that the retail sales in Australia declined in the last quarter of the previous year. The Australian retail sales declined 0.3 percent in the fourth quarter of 2010 on the seasonally adjusted basis, according to the estimates of the Australian Bureau of Statistics. On month-to-month basis the retail sales increased 0.2 percent in December (seasonally adjusted), less than 0.5 percent forecast by the analysts. AUD/USD traded at 1.0121 as of 11:44 GMT, slightly […]

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February 7
2011

Book Review: The Black Swan (Nassim Nicholas Taleb)

It’s been some time since my last Forex book review, so today I’ve decided to share my impressions of the latest book on probability by the “financial dissident” Nassim Nicholas Taleb. If you still haven’t read his previous book — Fooled by Randomness (see my review here) — I strongly urge you to do so, even if you aren’t into trading. His latest book — The Black Swan — became a major bestseller […]

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February 7
2011

Korean Won Gains with Decrease of US Jobless Rate

The unexpected decline of the US unemployment rate last week bolstered the South Korean won by improving the outlook for the exports of the Asian nation. The Bank of Korea reported today that the nation’s foreign-exchange reserves posted gains for the second month in January, climbing from $292 billion in December to the record $296 billion. The won also rose on the prediction that the Bank will raise the interest rates to slow the inflation that rapidly grows as the South Korean economy […]

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