Day: November 5, 2011

November 5
2011

Aussie Posts Weekly Loss as RBA Cut Interest Rates

The Australian dollar ended this week with losses against some majors, including the US currency and the euro, as the negative fundamentals caused Australia’s central bank to cut its main interest rate. The Australian currency (often called the “Aussie”) depends on the performance of commodities as Australia’s economy is based on export. And commodities are under heavy pressure from various negative factors these days. The debt problems in Europe, the signs of an economic slowdown […]

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November 5
2011

Forex Technical Analysis for Week 11/07—11/11

Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.2980 1.3294 1.3542 1.3856 1.4104 1.4418 1.4666 GBP/USD 1.5591 1.5733 1.5881 1.6023 1.6171 1.6313 1.6461 USD/JPY 71.98 73.76 75.97 77.75 79.96 81.74 83.95 EUR/JPY 100.63 103.55 105.71 108.63 110.79 113.71 115.87 GBP/JPY 116.93 119.39 122.38 124.84 127.83 […]

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November 5
2011

Swiss Franc Lower as Foreign Currency Reserves Decline

The Swiss franc dropped after Switzerland’s central bank reported that the nation’s foreign currency reserves decline last month. The Swiss National Bank reported that the foreign currency reserves declined to 242.7 billion francs on October from 282.2 billion francs in September. The balance of the foreign assets was down 29.7 billion francs in September, following the drop by 12.3 billion francs in August. For a long time the SNB was attempting to weaken […]

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