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[QUOTE="andy003, post: 299, member: 245"]
Here is the combined forex news excerpts from dowjones.com and rttnews.com

The euro and dollar were little changed against the yen in Asia Thursday, although they appeared poised to resume recent their downtrend as players stood on the sidelines ahead of the European Central Bank's rate decision later in the day.

"Because global stock prices are falling and economic indicators (from the U.S. and Europe) are unfavorable recently, many players want to sell" both the euro and dollar, said Yuji Saito, head of FX Group at Societe Generale.

But players were still in a wait-and-see mood during Asian trading hours because they want to get a better idea of how equity markets will react to the ECB's policy rate decision.
In Asian trading Thursday, the impact of short-term-focused players' euro and dollar selling was canceled out by buying from European and other non-Japanese banks, some dealers said. "The euro and other units have been relatively stable in Asia these days due to European and other banks' debt finance," said Hideki Amikura, a senior dealer at Nomura Trust and Banking.

As regards the Indian market on Thursday is trading sharply lower on account of profit taking and weak cues from overseas markets following a rally on Wednesday. Stocks across the sectors are coming under selling pressure. Realty, IT, banking, metal and oil/gas are leading the decliners

Source:[url]http://forexdailyupdates.blogspot.com/[/url]
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