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Day: November 25, 2011
November 252011
Euro Lowest Since October
The euro dropped against the dollar and the yen to the lowest rate since October and retreated versus the pound today as there are no sings that the crisis in Europe may end. The Italian borrowing costs surged to the highest level since 1997, reinforcing concerns about the debt crisis. Analysts say that the contagion now isn’t limited to only the peripheral economies. The downgrades of Portugal’s and Hungary’s credit ratings weren’t helping to improve the sentiment. And now […]
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November 252011
Canadian Dollar Falls as Risk Aversion Rises
Risk aversion was the main driver today on the Forex market, as the week came to a close. With risk aversion rising, the Canadian dollar dropped, ending the week on a lower note against the US dollar. Loonie weakened against the US dollar on the day following Thanksgiving, US equities fell on concerns about what is next for the eurozone. Troubles in Europe continue as bond yields rise, and as credit rating continue to drop; Belgium was the latest […]
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November 252011
US Dollar Gains as Europe Continues to Struggle
US dollar is heading higher on the Forex market, gaining as traders look for safe haven in the face of more European troubles. This time, it’s a credit rating cut for Belgium. US dollar is getting a boost today, rising against majors as US stocks move modestly lower on Black Friday. High beta currencies are heading lower today as concerns about what’s coming worry investors and Forex traders alike. […]
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November 252011
Record Drop of Yuan Since July 2010
The Chinese yuan headed for a third weekly drop today, demonstrating the longest decline since July 2010, on the speculation that the slower economic growth will cause China to trim the currency’s gains to protect the nation’s exporters. The government report showed that exports grew 15.9 percent in October, showing the slowest growth rate in almost two years. The data from HSBC Holdings Plc and Markit Economics signaled that the Chinese manufacturing may […]
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November 252011
Rand Heads to Weekly Drop on European Problems
The South African rand dropped today, heading to the worst week in more than two months, as the European debt crisis continues to produce a downward pressure on the riskier currencies. The market sentiment worsened after German Chancellor Angela Merkel rejected the idea of joint euro-bonds. Germany’s leader reasoned that the idea was a too easy way for exiting the crisis that can hurt the fiscal discipline of the peripheral European economies and lead to even bigger […]
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November 252011
Cypriot Broker with Arabian Awards — AFB FX
After a rather a long break, a new broker was listed on EarnForex.com today — AFB FX. It’s a rather new brokerage company that was founded in 2010 and went online with its services in 2011. It’s based in Cyprus and is regulated by CySEC, British FSA and Spanish CNMV. AFB FX is a MetaTrader broker that also provides access to a web-based platform and a mobile platform for several types of cellular phones. The company […]
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