I’m happy to report that Casey Stubbs starts a daily show for traders. The show will be aired every day at 7:30 EST (11:30 GMT) and will provide practical trading advice based on the experiences of long-term forex traders. The presentations will be led by Michael Storm from Winners Edge Trading although there will be … “TV Broadcasts on Winners Edge Trading”
Month: June 2010
Great Britain Pound Gains on Improving Confidence
The Great Britain pound strengthened today after the leaders of the Group of Twenty set the budget-deficit targets, stating that they would focus on the supporting the economic growth and would try to avoid levies on the banks. The U.S. President Barack Obama said that the G-20’s target to halve the budget deficits by 2013 is in line with the U.S. plans and reflects the economic needs of every nation. The U.K. Prime Minister David Cameron said that the Britain’s … “Great Britain Pound Gains on Improving Confidence”
South African Rand Strengthens After G-20 Meeting
The South African rand gained today as the attractiveness of the higher-yielding currencies increased after the Group of Twenty leaders discussed plans to curb the budget deficits. The G-20 pledged at least to halve deficits by 2013, to maintain existing stimulus measures and perform “concerted actions” to support the recovery of the global economy. The traders continue to bet on the decrease of the 6.5 percent benchmark interest rate by the central bank on July 22. USD/ZAR traded at 7.574 as of 11:08 GMT down from … “South African Rand Strengthens After G-20 Meeting”
Yen Weakens as Demand for Safety Wanes
The Japanese yen weakened today as the demand for the safety waned after the Group of Twenty leaders agreed on the measures to battle the budget deficits, boosting the equities. The G-20 leaders pledged to halve the deficits by 2013 and stabilize debt-to-output ratios by 2016. Angela Merkel, the Chancellor of Germany, commented on the fiscal targets: “Honestly, this is more than I expected, because it is quite specific. Itâs a success that industrialized countries as a group accepted this.” USD/JPY … “Yen Weakens as Demand for Safety Wanes”
Jobs Hangover? Non-Farm Payrolls Preview
The upcoming release of the Non-Farm Payrolls will be a correction from the previous release due to government’s cut in jobs. Here’s a preview for the NFP on July 2nd, and the things to watch out for. The decennial census that was held in May had an impact on Non-Farm Payrolls from the beginning of the year. … “Jobs Hangover? Non-Farm Payrolls Preview”
Weekly Losses of U.S. Currency
The strength of the U.S. dollar was severely tested this week by the bad macroeconomic indicator, and the U.S. currency passed this test not very well, rising questions about its credibility as the safe currency. The dollar’s performance against the euro, the Great Britain pound and the Japanese yen followed the same trend. At the beginning of the week the greenback rose on the optimism, brought by the China’s promises to lift the two-year yuan’s peg to the dollar. But then the terrible news … “Weekly Losses of U.S. Currency”
Canadian Dollar as Safe Currency? It May Be Possible
The Canadian dollar strengthened today, rising for the first time this week against the U.S. currency and for the first time in four days versus the euro, as the crude oil gained and the U.S. economic growth were slower than expected, increasing the demand for the safe haven. The Canadian currency went up as the equities gained and the crude oil futures rose by 2.8 percent. The U.S. economy grew by 2.7 percent in the first quarter of this year, less then … “Canadian Dollar as Safe Currency? It May Be Possible”
Dollar Weakens vs. Pound & Yen on GDP Report
The U.S. dollar weakened today against the Great Britain pound and the Japanese yen as the economic growth in the first quarter of this year were lower than expected; the concerns about the European debt crisis allowed the U.S. currency to rise versus the euro before returning to the opening level. The U.S. gross domestic product rose by 2.7 percent in the first quarter of this year, compared to 5.6 percent in the fourth quarter of 2009. The median forecast of the analysts … “Dollar Weakens vs. Pound & Yen on GDP Report”
Euro Fall on Grim Outlook for Global Economic Growth
The euro fell today on the speculation that on the forthcoming meeting the Group of Twenty nations’ leaders would fail too achieve agreement on the way to deal with the European crisis. The experts think that the U.S. politicians prefer the stimulus measures, while the European leaders lean to the austerity measures. Considering the radically different approaches, many don’t believe that the politicians would find the agreement. The U.S.gross domestic product rose by 2.7 percent, lower than … “Euro Fall on Grim Outlook for Global Economic Growth”
Yuan Rises Before G-20 Meeting
The Chinese yuan rose today as China set the daily reference rate to the record high level, giving the currency the chance to appreciate before the Group of Twenty nation’s meeting tomorrow in order to stop criticism for the yuan’s dollar peg. The Peopleâs Bank of China stated on June 19 that it would end the yuan’s two-year peg to the dollar. The other G-20 leaders seem to remain wary, though, about the sincerity of this promise. The yuan is … “Yuan Rises Before G-20 Meeting”