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July 3
2008

Bank Indonesia Raises Borrowing Costs

The Bank Indonesia increased the interest rates today for its third meeting in a row to efficiently fight the accelerating inflation caused by the growing food and oil prices. The central bank voted for the interest rate to be raised from 8.5 percent to 8.75 percent. The only reason the government wants to hold the rates that high, despite the unpopularity of such measures, is the fastest […]

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July 2
2008

Dollar Goes Down on Job Losses

EUR/USD grew today to its monthly maximum and remained well above the yesterday’s close level after the bad data on employment was released in U.S. today. Other economic releases failed to support the dollar today. ADP employment report surprised markets with 79k drop in jobs in June, whereas the forecast was a 40k decline. This was the first drop in employment since February according […]

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July 2
2008

Dollar at 2-Month Minimum versus Euro

The U.S. dollar reached its lowest value against the European currency in more than two months today as the traders are waiting ADP report on the June jobs dynamics and expect it to show a first decline in four months. Automatic Data Processing, Inc. reports on the employment in the non-farm private business sector each month, relying on the private data of its business clients. June […]

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July 1
2008

Dollar Holds Steady on Construction and PMI

The dollar traded with an elevated volatility against the euro today, going both high above the opening level and diving down below it. The overall fundamental background is positive for the greenback today. Yesterday’s report on Chicago PMI index also supported the U.S. currency. Currently EUR/USD is trading near its open level at 1.5754. Total construction spending in May was down 0.4% after […]

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July 1
2008

Automated Trading Championship 2008 Open for Registration

MetaQuotes Software is organizing its third yearly automated trading championship (basically a contest of the expert advisors). There are three sponsoring Forex brokers this time — FXCM, Interbank FX and FXDD. The total prize funds are $80,000 with $40,000 going for the first place, $25,000 — for the second one and $15,000 — for the third. The registration for the championship opened today, July […]

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June 30
2008

Another MetaTrader Broker — FastBrokers

Another broker supporting the MetaTrader 4 Forex trading platform took its rightful place in my list of brokers. This broker is called FastBrokers. It’s not a very new on-line broker — according to the Wayback Machine FastBrokers is on-line since 2006. Its head company is Fast Trading Services LLC, which is registered with NFA and CFTC. As a payment method they support PayPal, credit cards and, of course, bank wire. These factors combined […]

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June 30
2008

Yen Shows Growth on Moody’s Rating

The Japanese yen showed some really strong growth against the other Forex most-traded currencies today as the investors favored the Moody’s upgrade of the Japan’s yen debt rating. Despite the weak performance of the Japanese stock market today the country’s currency showed one of the fastest growing day this month against dollar, euro and pound after Moody’s news about rating upgrade. It also rose […]

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June 30
2008

AUD at 25-Year High against Greenback

The Australian dollar reached a record high value since February 1983 against its counterpart from the United States today as the USD slumped and the commodity currencies grew on optimism. The Australia’s national resource producers climbed up today on the stock market as the traders showed an elevetated optimism in the global economy growth. This boosted the USD-AUD conversion and supported the AUD/USD growth, while […]

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June 30
2008

Currency Volatility Down at 2001 Value

The currency market volatility fell to its lowest values since the second quarter of 2001, signaling that the central banks probably won’t interfere into the Forex trading to support the U.S. dollar. As the currency swings became less dangerous to the global financial stability, less analysts believe that the European or U.S. central banks will go for a dollar-supporting intervention. The dollar lost more […]

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June 28
2008

Forex Technical Analysis for 06/30—07/04 Week

EUR/USD trend: sell. GBP/USD trend: sell. USD/JPY trend: buy. EUR/JPY trend: buy. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.5253 1.5360 1.5576 1.5683 1.5899 1.6006 1.6222 GBP/USD 1.9341 1.9464 1.9706 1.9829 2.0071 2.0194 2.0436 USD/JPY 102.65 104.25 105.20 106.80 107.75 109.35 110.30 EUR/JPY 163.89 […]

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