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Day: October 29, 2012
October 292012
Rupee Down Ahead of Monetary Policy Decision
The Indian rupee weakened today ahead of tomorrow’s monetary policy decision as the central bank mentioned that there is need for some measures to spur growth. Analysts interpreted such comments as a hint at future interest rate cuts. The Reserve Bank of India wrote today: As macro-risks from inflation and twin deficits recede further, that could yield space down the line for monetary policy to respond more effectively to growth concerns. The bank […]
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October 292012
Ringgit Heads Down as US Stock Markets Close
The Malaysian ringgit dropped as US equity markets were closed today due to the threat from a hurricane. The event threw other markets in turmoil and Forex traders preferred to keep dollars amid uncertainty and fear. Hurricane Sandy may be one of the worst storms that hit the United States in a century. Stock markets were closed amid the threat from the hurricane. On top of that, the presidential elections on November 6 may be affected […]
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October 292012
Euro Mostly Lower in Forex Trading
Euro is mostly lower in Forex trading today, pulling back as uncertainty — particularly about what’s next for embattled eurozone countries — weighs on the 17-nation currency. Euro is heading lower as worries about what will happen in Greece and Spain once again take center stage. In Greece, there are still talks about austerity measures. Last week, an analysis showed that Greece was nowhere near its targets. […]
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October 292012
US Dollar Gains Ground on Continued Uncertainty
US dollar is heading higher today, gaining ground as uncertainty about what’s next for the global economy weighs on risk and high beta currencies. There is a lot of uncertainty out there right now. Risk aversion is high as concerns about the eurozone continue to provide a reason for worry. The situation in Greece still isn’t resolved to everyone’s satisfaction, and Spain continues to put off what many think is the inevitable. The question […]
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October 292012
Book Review: The Little Book of Currency Trading by Kathy Lien
Kathy Lien is a famous Forex author, analyst and blogger. Although she is better known for her 2005 title Day Trading the Currency Market, I will review her latest work — The Little Book of Currency Trading: How to Make Big Profits in the World of Forex. It was released in late December 2010 and soon became quite a popular book on FX trading. What This Book is About The Little Book […]
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