Day: August 6, 2012

August 6
2012

Euro Loses Strength as Monti Sparks Fears

The euro was stronger at the beginning of today’s session, boosted by the optimism that persisted from the last week, but trimmed its gains and fell against some major currencies later after Italian Prime Minister Mario Monti warned that the eurozone may fall apart because of the disagreement among the European Union members. Monti said on the weekend that “the tensions that have accompanied the eurozone in the past years are already showing […]

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August 6
2012

Aussie Near Four-Month High vs. Greenback

The Australian dollar pared its losses versus the US dollar and the euro on speculations that the Reserve Bank of Australia would refrain from cutting the interest rates further. The Aussie traded near the four-month high against the greenback. The mood of Forex market participants soared after US non-farm payrolls were released on Friday and the positive sentiment persisted today. The optimism added to the strength of the Aussie that was caused by speculations that the RBA would […]

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August 6
2012

US Dollar Looks for Gains against other Majors

US dollar is looking at gains against high beta majors today, after seeing some weakness earlier. Some of the gains are being pared a little bit, but even with the expectation of good news in the eurozone, there are still doubts, and the US dollar is still being considered a safe haven. Often, when stocks are doing well, the US dollar drops, as it is an indication that riskier […]

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August 6
2012

Ruble Rises as Oil Prices Advance & Borrowing Costs Fall

The Russian ruble climbed today as prices for Urals oil rose and Russia’s borrowing costs fell. Trades retained their confidence from Friday and that helped riskier currencies, including the ruble. Futures on Urals crude surged as much as 3 percent to $109.81 per barrel on August 3 and traded at $109.06 today. About 50 percent of Russia’s export revenue comes from oil and gas exports. The yield on the Russian bonds maturing in 2015 […]

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August 6
2012

UK Pound Falls after Disappointing Housing Data

UK pound is lower today, dropping to a one-month low against the euro and pulling back against the US dollar as the latest housing data disappoints. Pound is on the defensive in trading as the housing market in the United Kingdom continues to struggle, and as the economy languishes. Right now, the issue is home prices. Rightmove Plc reports that home sellers might need to lower prices. Home prices dropped in June and July, but surveys indicate […]

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August 6
2012

UK VPS Service for Forex Traders — Virtrader

A new VPS hosting company is now listed on EarnForex.com. It is Virtrader from the United Kingdom. Virtrader is a branch of dediShack company and is specializing in services for traders. They claim to provide an extremely low-latency connection to the brokers with Europe-based trading servers. They also provide free connection speed monitoring service. Other features of Virtrader include: Payments are accepted only via PayPal and wire transfer. Trading […]

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