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Day: February 18, 2011
February 182011
Euro Rises as ECB Official Speaks in Favor of Interest Rates Hike
The euro advanced to the highest level in a week versus the US dollar today after member of the European Central Bank Executive Board Lorenzo Bini Smaghi said that the inflation pressure may force the bank to raise the interest rates. Bini Smaghi said: As the economy gradually recovers and global inflationary pressures arise, the degree of accommodation of monetary policy has to be monitored and, if needed, corrected. The ECB policy makers look worried […]
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February 182011
Great Britain Pound Jumps as Retails Sales Grow
The Great Britain pound climbed today after the report showed that the retail sales in the UK advanced three times more than was forecast. Britain’s retail sales jumped 1.9 percent in January, compared to the predicted value of 0.6 percent. In December the sales declined 1.4 percent. The surge of the retail sales intensified the talks about the increase of the interest rates by the Bank of England. GBP/USD advanced from 1.6171 to 1.6231 today as of 16:50 GMT, […]
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February 182011
Biggest Forex Scam Pt. V (David A. Smith)
Every profession has its share of great businessmen, and every profession certainly has its share of con artists too. David A. Smith seems to be one such person who allegedly took over $200 million from more than 6,000 investors located in Orange County, Jamaica, the Turks and Caicos Islands, and other places. The Seminole County Connection In Orlando, US prosecutors charged banker David A. Smith […]
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February 182011
CAD Retreats After Touching Two-Year High vs. USD
The Canadian dollar retreated after it jumped to the highest level since March 2008 versus its US counterpart. The Canadian currencies had gained as crude oil advanced on the concerns about supply from Middle East. April contract for Brent crude oil dropped 1 percent to $102.77 per barrel on ICE after reaching yesterday $103.78, the highest price since September 25, 2008. Crude oil is Canadaâs main […]
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