Stock Charts
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Forex - Forex market is mixed ahead of US presidential election
The Dollar tends to gain as risk aversion rises because dollar-based investors repatriate money or look for safety in U.S. Treasury debt.
US factory activity plunged to a 26-year low last month boosted US and global recession fears. Analyst said the US manufacturing data, an $11bio capital injection in South Korea, an interest rate cut in India and expected rate cuts in the euro zone, Britain and Australia show ongoing stress in financial markets and the world economy even as interbank lending markets continue to loosen up.
The European Central Bank and the Bank of England are expected to c (more…)
Forex - Month-end demand from fund managers rebalancing Forex hedges boost the Dollar
The Dollar recorded its biggest monthly gain against a basket of currencies in more than 17 years on Friday, boosted by month-end demand and concerns about a deteriorating global economy. The Yen pared most of its gains against the Dollar, but traded sharply higher against the Euro as investors remained averse to risk after bleak US economic reports heightened global recession fears.
Financial markets took little comfort from the Bank of Japan’s interest rate cut, the latest monetary policy initiative after central banks in the United States and other countries lowered rates last week to supp (more…)