China is not happy after being snubbed by Rio Tinto, and the China Iron and Steel Association is denying reports that they have agreed to fall into line with Japan and Korea by accepting a 33% drop in iron ore prices. China had been pushing for a 40%+ drop. The Australian newspaper reports. Elsewhere, a Chinalco spokesperson has said that Rio Tinto acted dishonourably in their negotiations and the Australian government is feverishly working to keep relations cordial with their most important trading partner.
China denies reports of iron ore price agreement
Source: www.forexlive.com
Read more...
New York forex wrap-up; EUR rally falters, recovers
Russia may switch share of US Treasuries to IMF-issued bonds Weber: Central banks need tools to avoid asset bubbles US trade deficit rises to $29.2 bln, meets expectations Canada posts rare trade deficit; home prices drop Goldman Sachs CEO: Recession likely to be protracted Fed’s Lacker: Fed...
Bank of England Holds Rate at 0.50%, APP at 275B
The Bank of England (BoE) kept the Bank Rate at a record low stimulatory level of 0.50%, and kept its Asset Purchase Program...
Fed’s Fisher: Inflation not an issue, not a “screeching hawk” at moment
Noted hawk Dick Fisher of the Dalas Fed says he doesn’t see the Fed tightening any time soon because there is so much slack in the US economy inflation is not a concern. Therefore, he says its not appropriate to be a “screeching hawk” at the moment. The Fed is constantly working...
Forex Trading Strategy
Learn how to trade EUR/USD, USD/CAD, GBP/USD or any other major currency pair by mastering a system that combines top level mathematics with the fundamental principles of human behavior - simplified in such a way that even a high school ... Docstoc feed for: Guides -...
Fundamental Outlook at 1500 GMT (EDT + 0500)
The euro moved lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4305 level and was capped...