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Day: September 7, 2011
September 72011
BoC Maintains Interest Rates, Canadian Dollar Climbs
The Canadian dollar jumped against its US counterpart as the Bank of Canada announced, after deciding to keep the target lending rate unchanged, that it’s expecting the economic growth to resume in the second half of this year. The BoC announced today that it’s keeping the key overnight rate at 1 per cent. The bank said in its announcement: The Bank continues to expect that growth will resume in the second half of this year, led […]
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September 72011
More Bad Macroeconomic Data from UK, Pound Hurt
The Great Britain pound slid versus the euro and the Japanese yen today after the macroeconomic data showed that industrial production slowed in July and house prices declined last month. Both results came out as an unpleasant surprise for market participants. Halifax house price index declined 1.2 percent in August on a monthly basis. The decline followed three consecutive months of increases and traders hoped that last month the index would also […]
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September 72011
Carry Trade Opportunity with SNB’s Help
As you all probably know already, the Swiss National Bank (country’s central bank) has pegged the Swiss franc’s Forex rate to the euro at about 1.20. The Swiss financial authorities got tired with their inability to weaken the currency using less drastic measures (classical currency interventions) and have just fixed the EUR/CHF rate slightly above the 1.2000 rate. For the past 40 hours it’s been trading in a tight range between […]
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September 72011
Aussie Gains as Australian Economy Grows
The Australian dollar rallied today, ending the three-day decline against the US dollar, after the report showed that the Australian economy grew more than expected in the second quarter. The Australian Bureau of Statistics reported today that Australia’s gross domestic product expanded 1.2 percent from March to June, compared to the median forecast of 1.0 percent. The advanced followed the drop by 0.9 percent in the previous three months. Analysts predict that tomorrow’s […]
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