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09.11.2012 08:21

Forex: Thursday review

 

 

The euro fell to a two-month low against the dollar after European Union finance ministers said they would postpone a decision until the revenge issue of providing financial assistance to Greece.

The single currency fell against most of its 16 major counterparts as European Central Bank President Mario Draghi said that the economic growth will remain weak. He also said that the finance ministers of the euro area will not be able to take action on Greece until the end of November, as they expect a full report on compliance with requirements.

The yen rose against all 16 major currencies, as the demand for safe assets was raised amid speculation that U.S. lawmakers will take measures that prevent a looming "fiscal cliff," which carries with it the tax increases and spending cuts.

The pound continued its yesterday's rise against the euro after the Bank of England has said it will support a program to purchase assets at 375 billion pounds ($ 599 billion). Also today, the BA decided by the level of interest rate, leaving it unchanged at 0.5%.

The Canadian dollar fell against the fact that the published data showed that the number of bookmarks new foundations were well below analysts' expectations. At the same time, it became known that the price index for new homes showed an increase in line with forecasts. Also on this momentum influenced gradual decline in demand for riskier assets.


 

09.11.2012 08:02

Stocks: Thursday review

Market Focus

  • The eurozone started the third quarter on a solid footing, according to PMI survey data
  • Earnings Season in U.S.: Major Reports of the Week
  • German private sector output growth slowed for the second month running in July
  • ECB's Mersch says as conditions normalise, it is unlikely that uncoventional policies will remain necessary
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