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FOMC Minutes October 28-29th 2008 Fed expects the economy to contract moderately in 2H08 and 1H09 and to overall grow at around zero in 2009 Some participants saw risks to the downside on inflation We expect an additional rate cut on December 16th, 2008 The staff reduced its forecast for economic activity in 2H08, 2009 and 2010. It expected GDP to contract in 4Q08. Moreover, it predicted that real GDP would continue to contract somewhat in the first half of 2009 and then rise in the
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rifkin
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EURUSD yesterday made one more attempt to go up, but it was short lived. For now Euro is in danger to go below 1.2342, unless pair will find enormous strength to turn around situation. Most likely it will be attempt to test support line at 1.2342.
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Good morning from Hamburg. Oh, shame on us. Yesterday there was the soccer prestige duel Germany against England in Berlin and we lost it 1:2 as well the EUR lost 0.7 % versus the GBP. We think this is a good chance to congratulate all English soccer fans who make FX trading. Market review In October the RBA bought a net of 3.15 billion AUD to turn away a plunge in the currency. This was the largest amount ever bought in a single month and the first net purchase since 2001. The central bank
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rifkin
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EUR/USD Resistance: 1,2560/ 1,2600-10/ 1,2650/ 1,2690-2710/ 1,2755/ 1,2800-10/ 1,2865/ 1,2930 Support : 1,2480/ 1,2430/ 1,2390-00/ 1,2330-50/ 1,2280 Comment : High volatility yesterday, as euro broke the first resistance levels that set the short term ranges and moved to 1,2800-10 area. The break of the trend line, that links the tops from October and sets the triangle formation (clear in the 4hour chart) , was false and this usually indicates that a move to the opposite direction should
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joe
adam
hurd
rifkin
Category:
Investing
Tags
joe
adam
hurd
rifkin
Category:
Investing