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Oil Rises as Traders Buy Crude Amid Speculation of OPEC Cut

posted by maximumpips 1327 days ago in Oil made popular 1327 days ago

Crude oil rose as traders took advantage of the cheapest prices in eight months to buy oil, amid speculation OPEC will cut output.

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Euro Moves Away From Long-Term Lows Versus Dollar, Yen

posted by fxmasta 1327 days ago in EUR, Technical, Daily made popular 1327 days ago

The euro edged modestly higher against other major currencies on Tuesday in New York. The European currency climbed away from a seven-year low against the yen and a yearly low versus the dollar. The euro also gained on the British pound

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BoJ Holds Key Interest Rate

posted by pippinallnite 1327 days ago in JPY, Fundamental, Inflation made popular 1327 days ago

Tuesday, the Bank of Japan maintained its key interest rate in October, while the Bank Indonesia hiked the policy rate for the sixth straight month. Official data showed inflation slowed in the Philippines.

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Carry Trade Shakeout - Opportunity?

posted by jameschen 1327 days ago in JPY, AUD, Technical made popular 1327 days ago

Virtually across the board, currency carry trades have unwound drastically, shaking out even the most determined yield-seekers at an almost unprecedented pace. The big question now is how much longer the freefall will last.

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Dollar Strong as Talk of Coordinated Rate Cut Looms

posted by anniemei 1327 days ago in USD, AUD, Daily made popular 1327 days ago

Riding to the rescue of this near-global near-free fall is, hopefully, a coordinated response by the world’s major central banks. No doubt led by the Fed, there is talk of at least 50 basis points being shaved off of key rates. It is doubtful we’

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Oil Declines Below $90 a Barrel on Concern Demand Will Weake

posted by maximumpips 1328 days ago in Oil

Crude oil fell below $90 a barrel for the first time since February as the credit crisis deepened in Europe, adding to concern that global economic growth will slow and reduce demand for fuels

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Fed, Treasury move again to help financial markets

posted by pipsmgee 1328 days ago in USD, Fundamental made popular 1328 days ago

The Bush Administration and the Federal Reserve said Monday they are moving "with substantial force on a number of fronts" to shore up confidence in, and protect, the financial system.

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Euro Drops To Long-Term Lows Versus Yen And Dollar

posted by pippinallnite 1328 days ago in USD, EUR, JPY made popular 1328 days ago

The euro saw sharp weakness against the other major currencies again on Monday as the credit crisis continued to make its way through Europe. The currency saw its biggest single-day drop ever versus the yen and added to a yearly low against the U

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New Zealand to Record Higher Budget Deficit

posted by nancypants 1328 days ago in USD, NZD, Fundamental made popular 1328 days ago

With the economic slowdown and resultant slower tax growth, the New Zealand economy is expected to witness higher budget deficit as well as cash deficit over the coming years.

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Markets Convinced US Federal Reserve Will Cut Interest Rates

posted by nancypants 1328 days ago in USD, Fundamental, Daily made popular 1328 days ago

The market seems convinced that the Federal Reserve will cut interest rates at their next meeting on October 29th. The question, it seems, is by how much. According to pricing of Fed Funds futures contracts, traders are pricing in an 84% chance t

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Euro Falls to 14-Month Low as Credit Crisis Spreads

posted by fxhottie 1328 days ago in USD, EUR, Fundamental made popular 1328 days ago

The euro had its biggest one-day drop against the yen since its debut in 1999 as the deepening credit crisis prompted European governments to pledge bailouts for troubled banks while stopping short of coordinated action.

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Job Losses Pushing U.S. Economy Into `Significant' Recession

posted by MarcB 1329 days ago in USD, Fundamental, Daily made popular 1328 days ago

The U.S. may be heading for its worst recession in at least a quarter century as the credit crisis forces employers across the country to cut workers and ratchet back spending.

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