Currency News
FXstreet.com: Fundamental
Stability at Low Altitude (Fri, 03 Sep 2010)U.S. Review Stability at Low Altitude This week’s data suggest that the economic dive that goes by the alias “double dip” remains a low probability outcome. This view is reinforced by policy presentations suggesting that any future weakness would be met with further monetary easing. The roots of the current negative sentiment are found in the disappointing economic and jobs outlook relative to historical patterns. Fiscal stimulus associated with the Kennedy and Reagan tax cuts appeared to be
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"Double-Dip" Deepens as Housing Collapses (Fri, 03 Sep 2010)
The Double-Dip recession I’ve been predicting for some time is deepening. And nowhere is the emergence of this powerful economic force more clear than in the housing market. All the fresh economic data confirms that home sales are weakening … home inventories are rising … and home price pressure is building. Meanwhile, we’re seeing a fresh rise in early-stage mortgage delinquencies after a multi-quarter respite. Credit demand is contracting for real estate and other loans. And bank failures are
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Bulls feed on Tyson Foods, Inc. call options (Fri, 03 Sep 2010)
TSN – Tyson Foods, Inc. – Call options on the food products company are a hot commodity this morning for bullish players positioning for a near-term rally in the price of the underlying shares. Tyson Foods’ shares rallied as much as 1.7% at the start of the session to an intraday high of $16.31. Shares of the producer and distributor of chicken, beef, pork, prepared foods and other products are perhaps higher following an upgrade to Ba2 from Ba3 by ratings agency, Moody’s Investors Service, on
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US: Economy-wide wage bill continues to expand (Fri, 03 Sep 2010)
The U.S. labour market is not collapsing. Total payroll employment posted a better-than-expected performance in August with the loss of 54,000 jobs. The jobs report was all the more encouraging given that the two previous months were revised up by a cumulative 123,000. While negative job creation at this point in the economic cycle is a disappointment, the good news is that the losses continue to be more than offset by the combination of rising hourly earnings and a longer workweek. We
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US: ISM Non-Manufacturing Falls to Lowest Level Since January (Fri, 03 Sep 2010)
The drop in the ISM non-manufacturing survey was larger than expected, but the index remains in expansion territory, consistent with our outlook for very slow growth. Jobs and export orders both contracted. A Tale of Two Surveys, Second Surprise this Week In a separate report earlier this week, the ISM manufacturing index showed unexpected strength, but today’s report on the service side of the economy reflects the slowest pace of expansion since January. Still, the non-manufacturing survey
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DailyFX -
Australian Dollar May Gain Further on RBA Expectations, S&P Strength (Fri, 03 Sep 2010)
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Canadian Dollar Looks to BoC Rate Decision for Next Moves (Fri, 03 Sep 2010)
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Japanese Yen: Currency Intervention Grows Ahead of BoJ Rate Decision (Fri, 03 Sep 2010)
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Euro Forecast Turns Bullish on S&P 500 Rallies – Test of 1.30 Likely (Fri, 03 Sep 2010)
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NFPs Offer a Last Gasp of Volatility Before Liquidity Drains (Fri, 03 Sep 2010)
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FT.com - Currency Markets News and Data
Swiss franc benefits from haven status as doubts spread (Sat, 04 Sep 2010)Swiss franc hits record high against the euro and nears parity against the dollar as worries over the global economic recovery drive haven demand
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Renminbi dispute looks set to haunt Sino-US economic talks (Fri, 03 Sep 2010)
President Barack Obama's top economic adviser will arrive for talks in Beijing this weekend, just as the simmering argument about the Chinese currency and global imbalances threatens to heat up again.
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Swedish krona hits high against euro (Fri, 03 Sep 2010)
The Swedish krona rises to a two-year high against the euro after the Swedish central bank raises interest rates and delivers an upbeat economic assessment
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SNB is backed into a forex corner (Thu, 02 Sep 2010)
The Swiss franc might be hovering near record highs against the euro, but the Swiss National Bank is unlikely to revert to direct intervention
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Growth provides fillip for Australian dollar (Thu, 02 Sep 2010)
The Australian dollar makes rapid progress as forecast-beating growth data dents expectations that the Reserve Bank of Australia will cut interest rates
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Commodity Online Forex Reports
Why the Yuan Could Replace the Dollar By 2015 (Fri, 03 Sep 2010)In the past two months China s leaders allowed the yuan to trade offshore in Hong Kong. They announced opening their bond market to foreign banks.
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Indonesia to raise bank s reserve requirement ratio (Fri, 03 Sep 2010)
Indonesia's central bank on Friday decided to raise banks' reserve requirement ratio in a bid to curb lending amid rising inflation. It also left its benchmark interest rate unchanged at 6.5% as expected.
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ECB keeps interest rates at record low (Fri, 03 Sep 2010)
The European Central Bank held interest rates at a record low and extended its liquidity safety net in response to a lopsided recovery and worries about vulnerable banks.
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Pak forex reserves rises to $16.12 billion (Fri, 03 Sep 2010)
Pakistan s central bank State Bank of Pakistan (SBP) said country s foreign exchange reserves rose to $16.12 billion in the week ending on August 27 from $16.11 billion a week earlier.
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NZ dollar ends higher vs greenback (Fri, 03 Sep 2010)
The New Zealand dollar was firm Friday ahead of the United States payrolls report.
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World News Headlines
Financial Times - World
Buffett and Gates on Chinese mission (Fri, 03 Sep 2010)Having persuaded many of their billionaire peers in the US into giving away chunks of money, Bill Gates and Warren Buffett are travelling to China to host newly minted Chinese tycoons to sell them on the value of philanthropy
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Renminbi dispute looks set to haunt Sino-US economic talks (Fri, 03 Sep 2010)
President Barack Obama’s top economic adviser will arrive for talks in Beijing this weekend, just as the simmering argument about the Chinese currency and global imbalances threatens to heat up again.
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US jobs data allay double dip concerns (Fri, 03 Sep 2010)
Fears of a double-dip recession in the US were allayed on Friday by data showing that the private sector had created 235,000 jobs in the past three months
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EU finance regulation shake-up welcomed (Fri, 03 Sep 2010)
European Union governments gave their approval to an overhaul of the way banks and markets in the region are supervised. However, they warned that new pan-European Union watchdogs would need to exercise their powers cautiously
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Gates rallies troops in Kandahar (Fri, 03 Sep 2010)
US defence chief strikes an optimistic note on his trip to the spiritual homeland of the Taliban, the new front line in the war in Afghanistan, forecasting ‘an inexorable process’ in strategy over the next two to three years
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