Aussie Falls as RBA Cut Growth Forecast

The Australian dollar tumbled as the Reserve Bank of Australia revised its growth forecast for this year downwardly, spurring speculation that more interest rate cuts will follow.The RBA forecast that nation’s gross domestic product will rise 3 percent, compared to the previous estimate of 3.5 percent. Inflation growth was revised from 3 percent to 2.5 percent. The central bank wrote in its policy statement:   ...

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Euro Drops Ahead of Elections on Weekend

The euro was falling today as elections in European countries this weekend and the next week add to uncertainty regarding the ability of the eurozone to withstand its financial crisis.Greece is the country that was most damaged by the crisis and its parliamentary elections on May 6 are very important for the well-being of the euro. As Holger Schmieding, a chief economist at Berenberg Bank, outlined:    The biggest...

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Pound Gains vs. Euro Ahead of Elections in France & Greece

The Great Britain pound gained against the euro today as Forex traders were nervous before the election in Greece and France this week. The currency fell against the US dollar despite the negative fundamental data from the United States.The French will vote in the final round of the presidential elections on May 6, while Greeks will choose a new parliament. Some participants use plenty of anti-euro rhetorics in their speeches....

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