The News Review:

- Forex – Canadian dollar falls as retail sales ex-autos fall 0.4 pct
- Forex – Euro strengthens on strong services, manufacturing PMIs UPDATE
- Forex – Dollar stays weak but euro gains capped by poor factory orders
- Forex deals take toll on Hexaware Technologies

Forex – Canadian dollar falls as retail sales ex-autos fall 0.4 pct
Forbes – Feb 22, 2008
Official figures showed retail sales rose by 0. 6 pct between November and December, the third rise in four months, for a 5. Auto sales accounted for most of December’s increase in sales, however, and sales excluding autos fell by 0.

Forex – Euro strengthens on strong services, manufacturing PMIs UPDATE
Forbes – Feb 22, 2008
Sources said the ‘flash’ estimate for the purchasing manager’s index for the services sector in the euro zone rose to 52. 3 in February from January’s four-year low of 50. 6, easily beating forecasts for a decline to 50.

Forex – Dollar stays weak but euro gains capped by poor factory orders
Forbes – Feb 22, 2008
A set of poor data yesterday appeared to confirm investors’ worries that the world’s largest economy is either in, or heading towards, recession. The Philadelphia Fed survey of manufacturing activity fell to minus 24. 0 in February from minus 20. 9 in January — its lowest levels since the 2001 recession, and way below analysts’ expectations.

Forex deals take toll on Hexaware Technologies
Economic Times – Feb 22, 2008
This led to a net loss of Rs 81
crore for the period. The
company management said there would be no further impact on its results and the
contracts were not being carried forward into 2008. Not counting this impact,
the company made a net profit of Rs 22 crore. The company also said it has
tightened norms for foreign exchange contracts to prevent unauthorised
transactions.