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Forex Market Commentary

USD/JPY Rises on Japan Prime Minister Resignation

By FXCompass — Wednesday, 02 June 2010

Nine months after the start of his mandate, Japan Prime Minister Yukio Hatoyama stepped down amid consistent political pressures and a record drop in popularity.

 

Euro Reverses Losses on Positive US Data

By FXCompass — Tuesday, 01 June 2010

The EUR/USD rebound strongly from its 4-year low after the release of positive US manufacturing and construction data.

 

Bank of Canada Raises Interest Rate

By FXCompass — Tuesday, 01 June 2010

The Bank of Canada raised its overnight rate by 25bps to 0.50% on Tuesday to become the first G7 country to hike interest rates since the start of the recession.

   

S&P Downgrades Spain, EUR/USD Falls to a New Yearly Low

By FXCompass — Wednesday, 28 April 2010

The EUR/USD fell below yesterday’s twelve-month low to reach 1.3115 right after S&P announced the downgrade of Spain’s credit to AA from AA+.

 

Euro Crushed by S&P Downgrades

By FXCompass — Tuesday, 27 April 2010

The EUR/USD fell below 1.3200 for the first time since April 2009 after Standard & Poor's ratings agency announced the downgrade of both Portugal and Greece on Tuesday.

   

Forex Market Outlook — April 26-30

By FXCompass — Monday, 26 April 2010

The Greece government officially asked for aid last Friday in order to help pay €8.5 billion in maturing bonds due before May 19. Despite some opposition from Germany, it seems like EU leaders are unlikely to let Greece default on its debt payments. An official announcement of lending terms is likely to give a push to the euro in the short term.

 

Greece Asks for Aid but Faces German Demands

By FXCompass — Monday, 26 April 2010

Greek finance minister George Papaconstantinou officially requested the use of the joint EU/IMF bailout package last Friday. Germany reluctantly agreed to contribute, but wants a more vigorous budget plan and further austerity measures before lending its €8.4 billion share.

   

USD/CAD Retracts on Disappointing Data

By FXCompass — Friday, 23 April 2010

The Canadian dollar dropped on Friday after the release of disappointing CPI and Retails Sales data for the month of March.

   

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