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Archive for January 27th, 2009

Australian Dollar May Drop to Record Versus Yen: Chart of Day

By Ron Harui and Candice Zachariahs
Jan. 27 (Bloomberg) — Australia’s dollar may fall to its weakest level against the yen as Japan’s deepening recession pushes the Nikkei 225 Stock Average toward a 26-year low.

Euro May Decline a Further 5% as Global Trade Slumps, UBS Says

By Candice Zachariahs
Jan. 27 (Bloomberg) — Investors should sell the euro against the dollar because it may fall 5 percent as global trade declines and a “risk premium” weighs on the 16-nation currency, UBS AG said.

U.S. Retail Sales May Post First Drop in 14 Years, Group Says

>By Allison Abell Schwartz
Jan. 27 (Bloomberg) — Sales at U.S. retailers may decline in 2009, the first annual drop in at least 14 years, as consumers continue to spend less and only purchase items that are discounted.

CANADA FX DEBT-C$ takes advantage of US$ weakness

By Jennifer Kwan
TORONTO, Jan 26 (Reuters) - The Canadian dollar rose for a fourth straight session against the U.S. currency on Monday as commodity prices were largely firmer and a rise in equity markets diminished the U.S. dollar’s safe haven appeal.

Australian, New Zealand Dollars Advance on Commodities, Stocks

By Candice Zachariahs
Jan. 27 (Bloomberg) — The Australian and New Zealand dollars advanced for a second day as investor appetite for higher-yielding assets improved after U.S. home sales revived and Barclays Plc said it won’t need further capital increases.

Yen Falls a Second Day as Stock Gains Reduce Demand for Safety

By Stanley White
Jan. 27 (Bloomberg) — The yen weakened for a second day against the Australian dollar as gains in Asian stocks reduced demand for the currency as a haven from the financial crisis.