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US Dollar weakened 17th Aug 2010

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Old 18-08-2010, 01:43
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Default US Dollar weakened 17th Aug 2010

USD weakened against many other major Forex currencies amid worries over the strong point of the U.S. recovery. Many more concern came just after a flood of mixed economic data of U.S., such as sales and orders of manufacturers at New York that cut in August for the 1st time in more than a year.
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Old 18-08-2010, 19:39
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Default The US Dollar was mixed vs. other major forex currencies -18th Aug 2010

The US Dollar was mixed vs. other major forex currencies after optimistic U.S. economic data which really support the idea of a getting better economy, succeeded to maintain the equity market as well as commodities. Dow Jones and NASDAQ climbed by 1.01% and 1.26% respectively, Gold (XAU) increased by 0.2%, crude oil improved by 0.7% and closing at 75.7 USD a barrel, closing at 1228.3 USD an ounce.
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Old 21-08-2010, 11:51
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The Dollar weakened against other major currencies after more Americans than expected filed for unemployment benefits last week and a gauge of manufacturing in the Philadelphia region unexpectedly declined, increasing concern the economic recovery is slowing. Unemployment Claims came out at 500K vs. 478K forecast and Philly Fed Manufacturing came at -7.7 vs. 7.1 forecast. NASDAQ and Dow Jones weakened by 1.66% and 1.39% respectively, crude oil weakened by 1.3% closing at 74.4$ a barrel, Gold (XAU) strengthened by 0.3% , closing at 1235.4$ an ounce. No economic data expected today.
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Old 26-08-2010, 06:39
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When traders start buying defensive stocks this should be a stop sign for investors. One should ask how long do these traders plan on holding these stocks. It is always good to get a reference point to see where they think the market will turn around. This way one can study the technicals and try to find some sort of rationalization in this market. In the next few weeks when kids go back to school, the market could jump due to cyclical buying. This means investors or traders believe the winter months could bring profits to certain companies. So, September and October could be rally months and then sell-off before the holidays. Companies like Staples may get a jump in earnings due to back to school sales. Does this mean all defensive or cyclical stocks will be up? No, this means trends have formed in the past with various stocks at certain times.
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