Jakob Dupont Knudsen of TradeProfits has written a comprehensive book about forex trading. The new book is for beginners as well as seasoned traders. Here’s a review and a hand out. Forex Hacking begins from giving good habits to new traders: Knudsen lays out a proper trade log. He then goes to deal with risk … “Forex Hacking – New Ebook for All Traders”
Month: February 2010
EUR/CHF – Wild Fridays – Courtesy of the Bank
The Swiss central bank has increased its interventions in the markets in an attempt to weaken the Swiss Franc. The moves are seen best against the Euro. Here is how it looks on the graph + a few characteristics of these moves. Click to enlarge. Remember that interventions are short lived. Observing the graph of … “EUR/CHF – Wild Fridays – Courtesy of the Bank”
Brazilian Real Posts Weekly Rebound on Optimism
After several weeks dropping on high risk aversion, the Brazilian real benefited from positive news this week coming from North America and Europe, attracting investors back to emerging markets, allowing more attractive riskier assets in Brazil to force the nation’s currency up in foreign-exchange markets. Despite China’s statement announcing new lending restrictions, risk appetite was positive for emerging markets currencies, as the EU announcde that it … “Brazilian Real Posts Weekly Rebound on Optimism”
Euro Continues Bearish on Fiscal Crisis
The euro ended another week losing versus most of the 16 main trading currencies as a concrete rescue plan for several Eurozone members budget crisis hasn’t been proposed by government officials, bringing pessimism and declining confidence among traders to invest in the region. The budget deficit crisis in Greece and to a lesser extent in other nations using the euro has nearly eliminated possibilities of interest rate hikes in the Eurozone anytime soon this year, and this … “Euro Continues Bearish on Fiscal Crisis”
Norway’s Krone Falls on China’s Reserve Requirements
The Norwegian currency ended this week losing versus the euro and the dollar, after the crude oil rally that fueled the krone’s advance during most of this week’s session lost strength, since risk aversion returned to trading markets this Friday with a new Chinese restrictive lending policy announcement. Risk aversion returned to markets today impacting the Norwegian commodity-linked currency after several days of advances versus the euro and the U.S. … “Norway’s Krone Falls on China’s Reserve Requirements”
Europe Economic Data Extends Euro’s Downtrend
The euro is going to finish another week posting losses versus most of the 16 main traded currencies after GDP figures published today for the European Union showed worse-than-expected numbers for the region which is already suffering from Greece’s financial crisis. Economic figures published today for the last quarter of 2009 showed that the economic recovery in the European Union lost traction as the data was considerably below forecasts, evidencing the economic … “Europe Economic Data Extends Euro’s Downtrend”
Pound Down on China’s New Requirements
China brought risk aversion once again to high levels before the end of this week’s session after it announced new lending requirements for banks, making the pound to trade towards another week of losses versus lower yielding currencies. The pound was once again affected by a negative market sentiment internationally after China, for a second time this year, announced new lending reserve requirements for banks to provide loans, in order … “Pound Down on China’s New Requirements”
EUR/USD Falls on Stagnant Europe
EUR/USD breaks to a new 9 month low after GDP is very worrying. An no – the Greek crisis is far from over. Next stop – 1.3420. European GDP figures were very disappointing. Germany’s economy didn’t grow in Q4. This followed weak growth in Q3. According to the initial release, the German economy stalled. This … “EUR/USD Falls on Stagnant Europe”
Forex book review: Making Sense of the Dollar
Guest Post by John Forman John Forman is a Forex author and expert. He is the Senior Foreign Exchange Analyst for the IFR Markets group of Thomson Reuters and frequent blog poster on Currensee.com. You may be familiar with Marc Chandler from appearances on CNBC and/or reading articles he’s published in a number of venues. … “Forex book review: Making Sense of the Dollar”
Ruble Benefits From Oil Rally
Russia is one of the main suppliers of oil for Europe, and today, as the energetic commodity continued to climb, the ruble profited from renewed confidence in trade markets and gained versus several currencies of its trading partners. The ruble continued its longest winning streak in 2010 so far this Monday, as the crude oil traded above $74 a barrel today, allowing commodity-linked currencies to outperform less appealing options in foreign-exchange markets as optimism was … “Ruble Benefits From Oil Rally”