Forex News and Rumors for October 14th, 2008

TSX Opens with a Bang

The Toronto Stock Exchange played catch-up with other surging global markets Tuesday morning after being closed Monday for a national holiday by posting its largest ever intra-day gain. Within fifteen minutes of opening the S&P/TSX index was up nearly thirteen percent with all ten sectors recording significant gains.

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Morgan Stanley Predicts Euro Losses to Continue

Suggesting that the European Union’s $1.5 trillion bank support plan is insufficient to stem a long-term slide in the euro, Morgan Stanley analysts feel that the euro could fall to $1.25 by the end of the year.

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Loonie Rebounds on Crude Oil Price Increase

After two days of severe losses, the Canadian dollar rises on the strength of commodities especially crude oil.

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Market Rallies Continue in Asia and London

After record rallies on Monday, the optimistic mood continues with Asia and London leading the charge. Shares were up six percent by mid-morning in London while Japan’s Nikkei Index closed up over fourteen percent after being closed Monday for a national holiday.

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