Yen Loses Ground as Japan’s Economic Growth Slows

The Japanese yen slid today as the attractiveness of the currency was diminished by the report that showed decline of the nation’s economy. The yen was trading sideways against the dollar and the pound for the past several weeks. In fact, the currency has ended its major streak of gains in June. Against the euro, though, the yen continues to rise as today’s advance did not break the downward pattern. Japan’s gross domestic product rose 0.3 percent in the second quarter … “Yen Loses Ground as Japan’s Economic Growth Slows”

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Italy: Monti’s Activism Losing Traction

Italian Prime Minister toured European capitals with great success (at least until he criticized the German Bundestag), and he managed to move stubborn Germany and other countries to support the European cause. However, his popularity is falling in his own country. The technocrat PM is scheduled to step down in 2013, but his government may … “Italy: Monti’s Activism Losing Traction”

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EUR/USD: Trading the German ZEW Aug 2012

The German ZEW Economic Sentiment Index is based on a monthly survey of institutional investors and analysts and their views of the German economy. A reading that is higher than the market forecast is bullish for the euro. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Tuesday at 9:00 GMT. … “EUR/USD: Trading the German ZEW Aug 2012”

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5 Signs that Israel is Close to Attacking Iran

In the past year, it was easy to label the Israeli rhetoric about war as a diversion from burning internal affairs, such as social justice protests, tax reliefs for big companies, tax hikes for regular citizens and the issue of drafting ultra-orthodox Jews to the military. However, in the past few days, there are ominous … “5 Signs that Israel is Close to Attacking Iran”

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Uneventful Week of Trading Not Good for Euro

This trading week was a bit uneventful. That was not good for the euro as traders hoped that the European Central Bank would act to support the currency as its President Mario Draghi had promised previously. The currency was trying to keep its gains from the previous week’s Friday at the start of this week, but for the most part of the week the euro was going down. Spanish yields were rising and nearing the critical … “Uneventful Week of Trading Not Good for Euro”

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Aussie Pares Losses as RBA Raises Growth Forecast

The Australian dollar was falling, but snapped its losses versus its US peer and closed near the record high against the euro. The currency ended with a loss against the Japanese yen. The main bullish driver for the Aussie was Reserve Bank of Australia’s monetary statement. The RBA revised its growth forecast for 2012 to 3.75 percent, up from 3 percent in May prediction. The central bank named several risks for Australia’s … “Aussie Pares Losses as RBA Raises Growth Forecast”

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Employment in Canada Worsens, Canadian Dollar Fluctuates

The poor employment data weakened the Canadian dollar today. Nevertheless, the loonie snapped its losses versus the US dollar and gained against the euro. The currency closed lower versus the Japanese yen. Canadian employment shrank by 30.000 jobs in July, following the increase by 7,300 jobs in June. The report proved that forecasters, who expected an increase by 9,600, were wrong. Moreover, the unemployment rate was expected to stay at 7.2 percent, but actually … “Employment in Canada Worsens, Canadian Dollar Fluctuates”

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Bank Rossii Keeps Rates Steady, Does Not Help Ruble

The Russian ruble slid today as crude oil, Russia’s main export, fell amid concerns about the global economic slowdown. The currency weakened even after the central bank refrained from lowering interest rates for the eight month. The Bank Rossii (the Bank of Russia) kept its lending rates unchanged today, including the main refinancing rate that stayed at 8 percent. The bank said in the statement: According to the Bank of Russia estimates, gross … “Bank Rossii Keeps Rates Steady, Does Not Help Ruble”

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Yuan Slides, Can Negative Data Lead to Rebound?

The Chinese yuan weakened today as macroeconomic reports showed that the biggest Asian economy is slowing. Analysts think that the negative data may be bullish for the currency in a longer term as Chinese policy makers will step up to boost growth. China’s consumer price inflation slowed to 1.8 percent in July, falling from 2.2 percent in June. The Asian economy felt the negative impact of the European troubles as demand for Chinese goods … “Yuan Slides, Can Negative Data Lead to Rebound?”

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FX Trader of the Year Contest – Registration Open

Leading forex portal FXStreet launches the 5th edition of its FX Trader of the Year contest in collaboration with Hantec markets. Participants will trade using demo accounts from September 17th to October 26th and the winners will received great prizes. In previous years, the contest was quite fierce, and traders learned a lot from this … “FX Trader of the Year Contest – Registration Open”

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