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Day: April 2, 2011
April 22011
Aussie Ran Away to Upside, Doesn’t Want to Come Back
Analysts expected a correction of the Australian dollar after the impressive rally a week ago. Instead, the Aussie was climbing to new records against the US dollar almost every day. The reason for the strength of the Australian currency is the continuing global recovery. The macroeconomic data across the world, including the rising non-farm payrolls in the US and the increasing growing manufacturing in China, supported the growth story. The growth of the economy bolsters commodities and that’s good for the Aussie, as it’s a commodity […]
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April 22011
Forex Technical Analysis for Week 04/04—04/08
Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3864 1.3942 1.4088 1.4166 1.4312 1.4390 1.4536 GBP/USD 1.5768 1.5852 1.5981 1.6065 1.6194 1.6278 1.6407 USD/JPY 78.57 79.94 81.99 83.36 85.41 86.78 88.83 EUR/JPY 110.30 112.23 115.93 117.86 121.56 123.49 127.19 GBP/JPY 126.05 128.09 131.74 133.78 137.43 […]
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April 22011
Chinese Yuan Appreciates with Other Asian Currencies
The strong economic growth of the Asian countries spurred talks about future rate increases. These talks benefited the currencies of the region, including the Chinese yuan. China’s Manufacturing PMI rose from 52.2 to 53.4 in March, according to the China Federation of Logistics and Purchasing. The Bloomberg-JPMorgan Asia Dollar Index, tracking 10 most-traded Asian currencies, increased 0.6 percent this week to 117.61, the highest level since 1997. The MSCI Asia-Pacific Index added […]
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April 22011
Loonie at 3-Year High Against Greenback
The Canadian dollar gained for the fifth consecutive session against its US peer, reaching the highest level in more than three years, as the employment in the US, the biggest trading partner of Canada, improved and crude oil, the main nation’s export, advanced. The contract for delivery of crude oil in May gained as much as 1.6 percent to $108.47 per barrel in New York, the highest since September 2008, on the forecast that the economy of China, the largest energy consumer […]
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