The euro experienced the second day of losses today as the stress tests failed to convince the investors in the ability of the European banking system to withstand the sovereign-debt crisis. The threat of the fiscal crisis’ expansion beyond the boundaries of Greece and Spain turns away the investors from the euro to the relative safety of the U.S. currency. Some economists say that the euro is even overvalued now and the $1.14 level required to bolster the regional exports. EUR/USD traded at about 1.2567 as of 13:22 … “Euro Drops vs. Dollar on Debt Crisis Concerns”
Month: July 2010
Pound Falls as Current Account Deficit Widens
The Great Britain pound dropped today below the $1.50 threshold for the first time from the beginning of this month amid the signs that Britain’s economy falters. The U.K. current account recorded the deficit of £9.6 billion in the first quarter of 2010, down from the revised surplus of £0.5 billion in the previous quarter. That was more than twice of the originally expected value of £4.5 billion deficit. GBP/USD dropped to 1.5028 today as of 11:38 GMT … “Pound Falls as Current Account Deficit Widens”
OpenBook – A new social platform for eToro traders
eToro, a trading platform that emphasizes friendliness and simplicity, launched a social network for its traders. Here’s a review of OpenBook. Traders can opt in to share their trades with everybody or keep them to themselves. This is similar to Currensee’s sharing scheme. eToro’s simplicity is seen here – no option to share trades only … “OpenBook – A new social platform for eToro traders”
Make Your Life Easier By Trading The Higher Time Frames
Guest post from www.visionsofaffluence.com So many forex traders focus exclusively on short term fluctuations of the market and spend their time watching charts in an attempt to profit. They trade like this because they believe that it’s the best way to profit in the forex market. But that couldn’t be further from the truth. These … “Make Your Life Easier By Trading The Higher Time Frames”
Weekly Movement of U.S. Dollar
The U.S. dollar posted gains against the Great Britain pound and the Japanese yen this week, on the other hand, the greenback fell versus the euro, extending its losses for the second week. The speculations that the economic recovery gains momentum and the statement of Jean-Claude Trichet, that the European economy fares better than most market participant think, bolstered the euro against the dollar, despite some losses in the beginning and the end of the week. The week was … “Weekly Movement of U.S. Dollar”
EUR/USD Ending Bullish Correction?
Euro/Dollar had another positive week, but it failed to break above the important long term resistance line. Also the short term trends show an exhaustion. Will it turn down? EUR/USD began a strong upwards move on last week’s Non-Farm Payrolls but couldn’t break the resistance line. These moves came on top of US weakness and … “EUR/USD Ending Bullish Correction?”
Economic Growth Outlook Boosts Aussie vs. Euro
The Australian dollar rose against the euro and fluctuated versus the Japanese yen on the speculation that the global economic recovery gains momentum, attracting the investors to the higher-yielding currencies; the moves against the U.S. dollar currently ended with losses for the Aussie. Australiaâs S&P/ASX 200 Index gained 0.9 percent and the MSCI Asia Pacific Index of regional shares advanced 0.9 percent. The Reuters/Jefferies CRB Index of raw materials went up 0.5 percent yesterday. … “Economic Growth Outlook Boosts Aussie vs. Euro”
Canadian Dollar Rises on Good Employment Data
The Canadian dollar gained for the fourth straight day against its U.S. counterpart and strengthened versus the euro today after the labor market posted the very positive set of results. The employers added 93,000 jobs in June, the astonishing number, which is about 5 times higher then the expected increase by just 17,900 jobs. The unemployment rate dropped to 7.9 percent from 8.1 percent in May, falling below 8 percent threshold … “Canadian Dollar Rises on Good Employment Data”
Rand Strengthens as Global Recovery Gains Momentum
The South African rand extended its gains against the U.S. dollar for the fourth consecutive day as the speculation that the global economic recovery is gaining momentum encourages the investors to purchase the higher-yielding assets. The International Monetary Fund forecast that the global economy would grow by 4.6 percent in 2010, the biggest increase since 2007. The investors bet on the increase of the 6.5 percent benchmark interest rate by the central bank on July 22. USD/ZAR traded … “Rand Strengthens as Global Recovery Gains Momentum”
USD/CAD Drops on Excellent Canadian Job Figures
Canadian unemployment rate fell to 7.9% and 93,200 jobs were gained. This huge surprise sends USD/CAD way down below the support line. Early expectations saw the unemployment rate unchanged at 8.1%, as it didn’t change last month. Not only did it fall, but it dropped below the round number of 8%. And similar to the … “USD/CAD Drops on Excellent Canadian Job Figures”