Top 10 Weekly Forex Market Headlines – 11.23.2012

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1. Greek debt program should be “rooted in reality”, not in wishful thinking – Lagarde

Nov. 18, An agreement among Greece’s creditors on how to reduce its large debt pile should be “rooted in reality and not in wishful thinking,” the head of the International Monetary Fund said as she heads into a tense meeting with European leaders…

 

2. Fed’s stress test fails to consider higher interest rates

Nov. 19, In the past year or so, banks, looking for safety and some yield, have stashed an increasing amount of their cash in the bond market, much of it in U.S. Treasuries. If rates were to rise quickly, that could cause huge losses at the banks…

 

3. “Fiscal cliff” could cause recession and spike unemployment above 10%: Fitch

Nov. 19, The “fiscal cliff” could trigger a recession and push the unemployment rate above 10 percent, ratings agency Fitch said on Monday. Fitch said it did not expect Congress to allow the tax hikes and spending cuts…

 

4. China’s days of double-digit growth are gone

Nov. 19, Zhang Hanzhong, who supplies locks for auto manufacturers, is part of a swath of China’s economy that is lagging in a two-speed recovery. Business for retailers, hotels, photo studios and other service industries is picking up as China…

 

5. Moody’s downgrades France’s triple-A rating to Aa1

Nov. 19, Moody’s Investors Service downgraded France’s sovereign rating by one notch to Aa1 from triple-A, the agency said on Monday, citing the country’s uncertain fiscal outlook as a result of “deteriorating economic prospects.”…

 

6. U.S. housing starts surge in October to highest level in 4 years

Nov. 20, The pace of home building rose to its highest level in more than four years in October, according to a government reading issued Tuesday. The Census Bureau report showed builders started construction at an annual pace of 894,000 homes last month…

 

7. Foreign investment in China falls for 11th consecutive months

Nov. 20, Why is the money drying up? That question confronts China as it experiences its 11th consecutive month of falling foreign direct investment. Overseas investment in China in October fell 0.2 percent from a year earlier…

 

8. Bernanke: Economic recovery “disappointingly slow”, no further stimulus

Nov. 20, Federal Reserve Chairman Ben Bernanke called the economic recovery “disappointingly slow” but outlined no further stimulative measures, in a speech delivered at the Economic Club in New York. Rather than meet expectations for more central bank easing…

 

9. EU proposes Greek debt buy-back plan of up to 40 billion euros

Nov. 20, Euro zone finance ministers are considering allowing Athens to buy back up to 40 billion euros of its own bonds at a discount as one of a number of measures to cut Greek debt to 120 percent of GDP within the next eight years…

 

10. Japan posts 4th monthly trade deficit, recession concerns mount

Nov. 21, Japan posted its fourth straight monthly trade deficit, as exports to China continued to slump amid territorial tensions between Tokyo and Beijing, stoking concerns that Japan is headed for a recession, according to government figures…
 

About Kelvin Ching

I'm a professional Forex trader and I have been trading for over 7 years. I was a series 3 broker and a registered CTA with the NFA, the main regulatory agency in the United States, and I have been involved at the highest levels in commodity trading. I also have a background in Information Technology, graphics design, and programming... I'm the co-founder of CurrencyNewsTrading.com, a site dedicated to fundamental analysis and news trading.

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