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Day: May 16, 2012
May 162012
Pound Falls as UK Economy Threatened by Europe’s Crisis
The Great Britain pound slumped today after the Bank of England trimmed its growth forecast as the crisis in Europe escalates. Positive employment data did not manage to help the weakening currency. BoE Governor Mervyn King said at today’s press conference that the central bank cut its growth forecast. The Governor explained that the European debt crisis remains a main threat to the UK economy as the eurozone is the main trading partner […]
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May 162012
Yen Falls vs. Majors as Traders Anticipate Intervention from BoJ
The Japanese yen fell against other major currencies today on speculation that the Bank of Japan will continue its efforts to weaken the currency. Even fears of the European debt crisis were not been able to help Japan’s currency. Specialist estimated that Japan’s gross domestic product grew as much as 3.5 percent of the first quarter of 2012 from Q1 2011, when it fell 0.7 percent. Analysts predict that […]
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May 162012
US Dollar Mixed as Euro Holds on to Gains
US dollar is mixed today as gains against the pound and the yen are offset to some degree by the way the euro is managing to eke out gains in spite of the turmoil over Greece. However, even with this small setback against the euro, the US dollar is still likely to remain strong overall, since safe haven currencies are likely to be in demand for some time. For now, the US dollar is turning […]
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May 162012
Euro Struggles Higher as Data Improves in the United States
Earlier, the euro headed lower as concerns about Greece overcame the markets and worried Forex traders and investors. Good news out of the United States, though, is changing the picture a little bit and providing a measure of confidence that is helping the euro to tenuous gains this morning. Earlier, the euro dropped on the disappointing news out of Greece. Greek President Karolos Papoulias has said that new Parliamentary elections will be called, […]
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May 162012
Chinese Yuan Falls as Greece Damps Demand for Riskier Assets
The Chinese yuan weakened a little today as the crisis in Europe reduced attractiveness of emerging markets’ assets and as China’s central bank lowered reference rate. New elections in Greece may be held as soon as June 10, adding to uncertainty about the situation in the European Union. China’s slowing growth also damp demand for the nation’s currency. The Peopleâs Bank of China set the fixing 0.15 percent lower at 6.3205. The yuan is allowed to trade 1 […]
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May 162012
MetaQuotes Updates Rules for ATC 2012
With less than a month left until the opening of registration for the 6th Automated Trading Championship, its host, MetaQuotes, announces some interesting changes — both to the rules of this Forex trading contest and some technical conditions for the expert advisors. First, the maximum amount of simultaneously open pending orders is increased from 12 to 100 for all symbols. That is a great news for the participants employing some sort of grid strategy. Second, […]
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May 162012
EUR/USD Fluctuates as Fundamentals Drag Down Both Currencies
EUR/USD fluctuated today. The euro is still suffering from the crisis in Europe, while the dollar was weighed down by prospects of additional stimulus. Today’s reports from the US were good, but fears that the US recovery is not stable enough persist. Housing starts were at the seasonally adjusted annual rate of 717k in April, above the revised March estimate of 699k and the predicted value of 690k. Housing starts were at the seasonally […]
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