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Japan's economy is slowing
www.investing.com/analysis/market-analysis/japan%2527s-economy-is-slowing-2885
Japan's economy is slowing
By Dukascopy Bank SA | Dec 17, 2007 07:00PM ET Previous session overview
Japan's economy is slowing down due to factors such as the U.S. due to loan problem and higher energy prices.
On Monday EUR/CHF has moved higher due to a fresh bout of risk aversion.
On Monday, the dollar advanced to several multi-month highs against its major rivals Monday on the back of momentum from last week's higher-than-expected U.S. inflation and consumption data, which seemed to assure currency investors that the dollar is protected from a near-term rate cut by the Federal Reserve.
The Australian dollar ended marginally weaker Tuesday as revived expectations for a February interest rate hike and a late recovery in Asian equities helped mitigate recent losses.
The British pound slumped the U.S. dollar on Monday as cable tested bids around the US$ 2.0100 figure and was capped around the $2.0215 level.
The New Zealand dollar continued the sharp losses seen on Friday night, though this time it was almost alone among the major currencies. Volatility over the Christmas period and a softer tone to recent economic data are likely to keep the NZD under pressure in the short term.
Market expectation
The euro is mixed on Tuesday, with slight gains against the yen and a shade lower against the dollar. Several currency traders think that the euro may even dip below $1.43 before the year end.
The Federal Reserve Board will take up the problem of protecting mortgage borrowers from abusive lending at an unusual open board meeting Tuesday morning.
Traders will continue to focus on US economic data this week to gauge the state of the economy and discern whether a recession over the coming months remains imminent. Data slated for release today we will see November housing starts and building permits, both of which are expected to deteriorate further from the previous month.
Most important events today:
UK - Consumer Price Index.
Canada - Consumer Price Index.
USA - Building permits and housing starts.
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Japan's economy is slowing
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