Breaking News
December 10
2007

Australian Dollar Rises on Global Economy Optimism

Aussie was on a rising edge today on the better investors sentiments, spurred by the recent stock markets growth. Australian dollar gained against both dollar and Japanese yen — its main carry trade counterparts. Going through the upper average range of the previous week for AUD/USD was significantly helped by the yen depreciation, based on the new wave of carry trade entries. If Federal Reserve will decide to lower the interest rate by 50 basis […]

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December 10
2007

Chinese Yuan Rushed by Henry Paulson

U.S. Treasury Secretary Henry Paulson is going to visit China again in order to motivate the government to increase the pace of the change in which yuan would appreciate against U.S. dollar and other world currencies. Recently China urged their banks to use the advantage of the globally weak dollar to buy the American assets […]

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December 10
2007

Forex E-Books: Two New Pieces

Two new Forex e-books were uploaded to my site today, again, they are more articles than books, but I think that they fit better in Forex books section rather than articles, because they are finely formatted into the Word documents (EDIT: I’ve converted them to PDF as a more conventional format) and are more complex than other articles. These e-books both come from Mr. […]

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December 8
2007

Forex Technical Analysis for 12/10—12/14 Week

EUR/USD trend: sell.GBP/USD trend: sell.USD/JPY trend: buy.EUR/JPY trend: hold. Floor Pivot Points: Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.4286 1.4405 1.4531 1.4650 1.4776 1.4895 1.5021 GBP/USD 1.9598 1.9889 2.0096 2.0387 2.0594 2.0885 2.1092 USD/JPY 108.01 108.78 110.23 111.00 112.45 113.22 114.67 EUR/JPY 158.77 159.83 161.76 162.82 […]

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December 8
2007

South Africa Lowers Foreign Purchases

South African Reserve Bank decreased its foreign currency purchases volume almost by a half after the national currency felt significantly against the U.S. dollar in November. Depreciated rand kept country’s central bank from increasing their Forex reserves at the previous pace. On November 27 USD/ZAR crawled up to the highest value since September 21, showing that recent South African Reserve Bank measures to hold the rand’s fast […]

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December 7
2007

Australian Dollar Gained on Lower Risks

Australian dollar gained against other currencies — about 1% against U.S. dollar and more than 1.1% against Japanese yen, yesterday after U.S. President George W. Bush stated that government will act to prevent the further damage from the mortgage financing crisis and to help those already hurt by the crisis consequences. AUD is currently experiencing downtrend which  started in the mid October, when the subprime lending crisis […]

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December 7
2007

EUR/USD Unconcerned with U.S. Employment Data

EUR/USD was mainly ranging today as the markets were undecided whether it is going bullish or bearish expecting the release by U.S. BLS on the November employment situation. After quite optimistic release came out dollar bulls took their ride for a while, but then euro bulls started to push EUR/USD back up keeping it slightly above the average daily range. Nonfarm payrolls — the main indicator of the U.S. employment […]

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December 6
2007

ECB Holds Rate, Trichet Predicts Hike

European Central Bank published its scheduled Monetary policy decisions today, leaving the main refinancing operations interest rate at 4.00%. Jean-Claude Trichet, Central Bank President, commented this decision saying that ECB is ready to fight the pressure of the rising inflation. EUR/USD jumped back almost 1% after being generally bearish this week. Accelerating inflation, which reached its yearly highs last month, makes […]

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December 6
2007

Bank of England Cut Rate by 0.25

The Bank of England’s Monetary Policy Committee today decided to reduce the official interest rate paid on commercial bank reserves by 0.25% from 5.75% to 5.5%. The decision was driven mainly by the slowdown in the economical output and moderating consumers’ spendings. Other problems noted by the Committee, which are “posing downside risks to the outlook for both output and inflation further ahead”, relate to the financial sector affected by the mortgage banking crisis. As the inflation rate for October was […]

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December 6
2007

Offset Trading Strategy E-Book

Another Forex strategy e-book can now be downloaded from my site, it is Offset Trading by Dana Martin. This e-book isn’t very bright, but describes one of the most potentially profitable Forex trading strategy — range breakout trading on news releases. After 2–3 pages of actually describing the strategy it becomes a some sort of advertisement for MB Trading broker and their trading platform. But I can assure […]

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