October 2009 Blog Posts (25)

The Forex Daily Digest - October 6, 2009

High-ranking oil and finance officials in the Persian Gulf, denying a report in a British newspaper, said the world's oil producers will continue using the U.S. dollar as the currency for buying and selling crude. Earlier, The Independent, a London newspaper, reported that Gulf Arab states, as well as China, Russia, Japan and France, were in secret talks to end the use of the USD to trade oil, causing the U.S. currency to fall in overseas trading this morning.

The USD fell against… Continue

Added by Forex Daily Digest on October 6, 2009 at 9:00am — No Comments

The Forex Daily Digest – October 5, 2009

The G7 nations released a final report after their meeting this weekend in Istanbul which stated that too much instability in foreign exchange markets could harm the international economy and the financial system, and again welcomed China's commitment to move toward greater currency flexibility. The language on currencies in the final communiqué issued by the G7 finance ministers and central bankers was nearly identical to a statement released after their last meeting in April.

IMF… Continue

Added by Forex Daily Digest on October 4, 2009 at 1:49pm — No Comments

sept non farm

US employers cut a deeper-than-expected 263,000 jobs in September, lifting the unemployment rate to 9.8 percent, according to a government report on Friday that fueled fears the weak labor market could undermine economic recovery.

The Labor Department said the unemployment rate was the highest since June 1983 and payrolls had now dropped for 21 consecutive months.

As I discused on my daily radio show prior to todays release, I was looking for payrolls to come… Continue

Added by Adam Horak on October 2, 2009 at 8:53am — No Comments

The Forex Daily Digest – October 2, 2009

The USD saw some strength against the EUR after European Union officials voiced concern about the EUR’s recent increase. The E.U. Economic and Monetary Affairs Commissioner, Joaquin Almunia, said the finance ministers from the 16 euro nations will discuss the currency's rise in order to develop a common position ahead of the G7 meeting in Istanbul which begins tomorrow. A senior Canadian finance official said G7 finance ministers and central bank heads will try to figure out how to activate the… Continue

Added by Forex Daily Digest on October 2, 2009 at 8:11am — No Comments

The Forex Daily Digest – October 1, 2009

The third quarter wasn’t kind to the U.S. dollar. As a matter of fact, the USD fell against most of the major world currencies as the International Monetary Fund cut its projections for losses and write-downs associated with the world’s current economic crisis. The dollar index fell 4.4 percent in the quarter and was down 2.0 percent for the month of September alone. The CAD increased the most in three weeks based on the same IMF projections. U.S. gold futures hit $1,000 an ounce yesterday,… Continue

Added by Forex Daily Digest on October 1, 2009 at 7:57am — No Comments