The euro was down intraday as investors were afraid that problems of Deutsche Bank may spill over the entire eurozone banking sector. Yet the currency managed to close above the opening level as fears receded. European shares went sharply higher on Friday as the situation with German’s biggest bank was improving. There were reports that the bank is close to settlement with the US Justice Department, which charged the bank […]
Read moreEUR/USD was falling today but started to recover intraday despite economic data from the United States that was coming out good. The possible reason for the bounce were easing fears surrounding Deutsche Bank. There are still concerns that Germany’s biggest bank may yet collapse, potentially creating a Lehman Brothers situation. Personal income rose 0.2% in August, in line with expectations, after increasing 0.4% […]
Read moreThe Canadian dollar fell on Thursday after two days of gains and maintained its weakness during the Asian trading hours on Friday. One of the possible reasons for the decline of the currency was the waning support from the deal to cut oil production announced by the Organization of Petroleum Exporting Countries on Wednesday. The output limit should support oil prices, and that boosted futures for the commodity as well as currencies of oil-exporting countries. Yet now, the rally is waning as traders […]
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