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Author: admin_mm
March 132008
USD at Record Low against Euro, Yen
The U.S. dollar reached a new historical minimum against the euro today; it also fell below the 12-year old minimum level against the Japanese yen on the expectations of the more interest rate cuts from the Fed. The record on EUR/USD was broken yesterday when it reached 1.5571 after even Bushs speech about a strong national currency preference couldnt help combat the pessimistic expectations regarding […]
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March 122008
Rand Gains for a Fourth Day
The South African rand gained against the U.S. dollar for the fourth day today as the stock markets throughout the world were stimulated by the Federal Reserves decision to pump about $200 billion into the global banking system. The rand grew not only against the U.S. dollar, but most significantly against the low-yielding Asian currencies, as the investors favored high-risks assets […]
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March 122008
New Record on EUR/USD at 1.5526
The February Treasury budget deficit beat the last signs of life out of the fadollar today as the released numbers were far worse than the most pessimistic expectations of the economic strategists. The budget deficit was at $175,6 billion, while the forecasted value was at $170,0 billion. Last year February budget deficit was at $120,0 billion. Thats an astonishing $55 billion (45.8%) increase of the deficit in a year-to-year comparison. EUR/USD hit its new record value on Forex today after the news […]
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March 112008
How to Control Yourself in Forex?
Joe Chalhoub presents an article about how to become a real Forex trader, not some opportunist who is trying to reap some fast rewards and become a millionaire in no time. Foreign exchange market has became very attractive for many people recently. Traders come with hopes and go without after losing some their hard-earned money. Taking control in trading, developing your own organized approach to trading […]
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March 112008
U.S. Trade Balance Improves
Although the U.S. trade balance deficit in January has actually widened compared to Decembers revised value, it was significantly below the analysts expectations. The negative difference between the exported and imported goods value was at -$58.2 billion which is slightly above the Decembers -$57.9 billion (revised up from -$58.8 billion). The trade balance deficit was expected to increase from $58.8 billion to $59.0 billion. The reason for the deficit “widening” […]
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March 112008
Korean Won and Other Asian Currencies Down Today
Today the majority of the Asian currencies, including the South Korean won, fell down on the Forex market as the investors expected that the global financial turmoil will decrease the capital inflow into the emerging Asian economies. Even the Japanese yen declined today against the other major currencies today, almost reversing the yesterdays strong gain. The South Korean won […]
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March 102008
Canadian Dollar Slipped Down on Risk Concerns
The Canadian dollar dropped on Forex today, mainly against the U.S. dollar and the Japanese yen, as the investors favored less commodity-dependent currencies. Commodities fell down during the European session and continued to fall during the New York trading session. Crude oil, gold and copper declined, as the traders were concerned with the slowdown of the U.S. economy. Its an interesting situation […]
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March 102008
New Zealand and Australian Dollar Lose to Yen
The New Zealand and Australian currencies continued their bearish trends against the Japanese yen today and dropped on Forex market during the Asian trading session, as the Japanese stock market plunged. The popularity of the carry trade using the Aussie and Kiwi as the long currencies and the yen as a short currency is currently experiencing a downtrend that lasts since the 26th […]
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March 92008
VarengoldBankFX Forex Broker Division of German Bank
A German banking institution Varengold Wertpapierhandelsbank AG started the on-line retail Forex broker this year VarengoldBankFX. Its one of the few MetaTrader retail brokers maintained by the major banking institution. They support mini Forex accounts, but the minimum positions size is twice as much as usual 0.1 lot. CFD and metal trading is also available (CFD is not available to U.S. citizens). Unfortunately, like with many other […]
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March 82008
Forex Technical Analysis for 03/10—03/14 Week
EUR/USD trend: hold. GBP/USD trend: hold. USD/JPY trend: sell. EUR/JPY trend: sell. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.4872 1.5008 1.5182 1.5318 1.5492 1.5628 1.5802 GBP/USD 1.9339 1.9530 1.9832 2.0023 2.0325 2.0516 2.0818 USD/JPY 98.56 99.98 101.33 102.75 104.10 105.52 106.87 EUR/JPY 152.74 […]
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