Forex Market Update

Forex Market Update Monday, October 31, 2011, 09:04 Contents Economic News Forex Top Story Commodities Political News Analyst Currency Comments Currency Alerts General News Economic News Japan Will Buy More EFSF Bonds, Rescue Fund Chief Says Japan will continue to purchase the bonds issued by the European Financial Stability Facility, or EFSF, the fund's chief Klaus Regling was quoted as saying in Tokyo on Monday. (Oct 31, 2011) Full Article ECB's Trichet Says Crisis Not Over; Tightening Of Rules Critical: Report The euro area debt crisis is not over, European Central Bank President Jean-Claude Trichet said in an interview with the German newspaper Bild am Sonntag. (Oct 31, 2011) Full Article Schauble Wants EU To Take Global Lead In Introducing Tobin Tax: Report The European Union must take the lead role in introducing the financial transaction tax to curb speculative trade, German Finance Minister Wolfgang Schauble told the Financial Times. (Oct 31, 2011) Full Article U.K. Mortgage Approvals Decline In September U.K. mortgage approvals declined in September, the figures from the Bank of England showed Monday. (Oct 31, 2011) Full Article Swiss Retail Sales Decline In September Switzerland's retail sales declined in September, data released by the Federal Statistical Office showed Monday. (Oct 31, 2011) Full Article OECD Seeks Decisive Action From G20 The Organization for Economic Cooperation and Development warned on Monday that without decisive action the global economic outlook is gloomy. In a note released ahead of the Group of 20 Cannes Summit, OECD Secretary-General Angel Gurria said, "Much of the current weakness is due to a generalized loss of confidence in the ability of policymakers to put in place appropriate responses." (Oct 31, 2011) Full Article Forex Top Story South Korea Industrial Output +6.8% In September Industrial production in South Korea jumped 6.8 percent on year in September, Statistics Korea said on Monday, rising for the 27th straight month. (Oct 31, 2011) Full Article Japan Intervenes In Currency Market To Weaken Yen The Japan government on Monday intervened in the foreign exchange market to weaken the yen, after the currency climbed to post-World War II high against dollar, threatening the country's recovery and exports. (Oct 31, 2011) Full Article Economic Hopes Reviving? After a long wait and protracted discussions, European leaders delivered at last, bringing cheer to the equity markets and also catalyzing massive buying of risky assets. (Oct 31, 2011) Full Article German Retail Sales Expand In September Reflecting an improvement in the labor market conditions, German retail sales expanded in September, but the pace of growth missed economists' expectations. (Oct 31, 2011) Full Article Eurozone Inflation Stable At 3%; Unemployment Rises Eurozone annual inflation remained stable at a three-year high in October, while the unemployment rate rose further, adding to the dilemma of central bank's act of maintaining price stability and supporting balanced economic growth. (Oct 31, 2011) Full Article Commodities Gold Pares Gains Amid Strong Dollar The price of gold was paring last week's gains Monday morning as the U.S. dollar was trading firm versus a basket of currencies. (Oct 31, 2011) Full Article Crude Slips Below $93 The price of crude oil moved below $93 Monday morning as the U.S. dollar turned firm ahead of a host of economic data during this week. (Oct 31, 2011) Full Article Political News NATO To End Libyan Mission By Monday Midnight The NATO will wind up its seven-month-old mission of enforcing the U.N. mandated no fly-zone over Libya and protecting the civilians by midnight (Libyan time) on Monday. (Oct 31, 2011) Full Article Rosen Plevneliev Wins Bulgarian Presidential Election In Run-Off Ruling center-right Citizens for European Development of Bulgaria (GERB) party candidate Rosen Plevneliev has won the Bulgarian presidential election. (Oct 31, 2011) Full Article Almasbek Atambayev Elected Kyrgyzstan President Kyrgyzstan's Pro-Russian former Prime Minister Almasbek Atambayev has won the presidential election with an overwhelming majority. (Oct 31, 2011) Full Article Analyst Currency Comments Dollar Soars As Bank Of Japan Shakes The Market - Westpac While noting that the initial risk-aversion was attributed to concerns that the post-EC summit rally was overdone, analysts at Westpac noted on Monday that the negative mood was inverted after the Bank of Japan intervened to weaken the yen for the first time since September 2010. The intervention, which is highly unusual, produced a wave of USD short covering. (Oct 31, 2011) Full Article Currency Alerts Yen Tumbles As Japan Intervenes In Forex Market For First Time Since August The yen fell sharply against its major counterparts in Asian trading on Monday after Japan intervened in the foreign exchange for the first time since August 04 to stem the yen's recent surge against the dollar that is increasingly hurting exporters and disrupting the economy's recovery after the March earthquake. (Oct 31, 2011) Full Article Dollar Surges Up After Japan Intervenes Yen During Asian deals on Monday, the U.S. dollar showed strength against other major currencies after Japanese authorities intervened yen to halt its gains, which is threatening the country's recovery and exports. (Oct 31, 2011) Full Article Euro Trades At 4-day Low Against Most Majors The European currency weakened in early deals on Monday as European equities fell on doubts about the effective economic recovery of the 17-nation bloc despite last week's EU summit deal. (Oct 31, 2011) Full Article Dollar Gains As Stocks Turn Lower The dollar was stronger versus other major currencies Monday morning in New York, as global stocks slumped following big gains earlier this month. (Oct 31, 2011) Full Article General News Yemeni Capital Airport Closed After Explosions The international airport in the Yemeni capital Sanaa was closed on Sunday after a series of explosions that rocked an adjacent Air Force base, reports quoting officials said. (Oct 31, 2011) Full Article Suicide Bomber Kills Four In Afghan City Of Kandahar An Afghan policeman and three civilians were killed when a Taliban car-bomber struck a checkpoint close to the office building of the United Nations High Commissioner for Refugees (UNHCR) and the U.S.-based International Relief and Development (IRD) in the southern Afghan city of Kandahar at dawn on Monday, media reported quoting officials. (Oct 31, 2011) Full Article Home | Top Stories | Breaking News | Economic News | Forex | Politics | Featured Interviews Sent to autoforextradingpro@gmail.com | Customize your alerts | Unsubscribe Copyright © 2011 RTTNews. All rights reserved. By using this service, you agree to the Terms of Service