The Great Britain pound surged today after the Standard & Poor’s raised the credit outlook for Britain and the GDP report trimmed the bets for the quantitative easing. The Standard & Poor’s raised the Britain’s outlook from negative to stable and confirmed the Britain’s AAA credit rating. The preliminary GDP report showed that the gross domestic product grew 0.8 percent in the third quarter, compared to the expected value of 0.4 percent. GBP/USD went up from … “Pound Rises on GDP and Better Outlook from S&P”
Month: October 2010
Yen Weakens on Intervention Concerns
The Japanese yen fell today as the concerns about another intervention continue to mount. The yen appreciated more than 5 percent since the last intervention. Yoshihiko Noda, Japan’s Minister of Finance, said on October 23rd that Japan’s government is ready to intervene if it’d deem necessary. He also stated the government’s currency policy hasn’t changed after the Group of Twenty meeting. USD/JPY rose from 80.81 to about 81.37 … “Yen Weakens on Intervention Concerns”
Pound Falls as UK Mortgage Approvals Declined in September
The Great Britain pound fell today against the Japanese yen after report showed the number of the mortgage approval decreased more than expected. The pound gained against the US dollar, which fell against all other currencies. The number of new mortgages approved for home purchase during the September was 31,104, compared to the August value of 31,781. The analysts expected the value near 31,600. The analysts also expect the house prices to continue their … “Pound Falls as UK Mortgage Approvals Declined in September”
Yen Continues to Strengthen, Intervention May Be Possible
The Japanese yen continued to rise today as the Group of Twenty meeting last week hasn’t provided decision, which could change the behavior of the currencies. The Bank of Japan confirmed its readiness to intervene in order to weaken the currency for protection of the nation’s exporters. Japan’s companies already reported the earnings, which declined because of the stronger yen. The analysts think the central bank wouldn’t intervene in the near term, attempting to gauge the influence of the strong currency on the economy before … “Yen Continues to Strengthen, Intervention May Be Possible”
Why What You Know Can Kill Your Trading
We have all been there before. You look at your charts and you see a classic pattern forming be it a head and shoulders or bear flag or any of the other well known trading patterns. Since you’ve seen this pattern many times before and you just know exactly what the market is going to … “Why What You Know Can Kill Your Trading”
Australian Dollar Rises with Higher PPI
The Australian dollar rose today after the report showed the Producer Price Index rose more than forecast in the third quarter. The Australian Producer Price Index (PPI) advanced from 0.3 percent to 1.3 percent in the third quarter of this year. The traders expected more moderate growth by 0.6 percent. The Australian dollar also rose as the report this weak expected to show that the inflation accelerated. AUD/USD advanced from 0.9846 to 0.9949 … “Australian Dollar Rises with Higher PPI”
Dollar Falls After G-20 Meeting
The US dollar slumped today as the G-20 meeting failed to provided any reasonable plan on how to avoid the competitive devaluation of the currencies across the world, fueling the speculation about future quantitative easing by the Federal Reserve. While the problem of the “currency wars” was discussed on the meeting, the participants haven’t decided on any actual measures to prevent forceful weakening of the currencies of the various countries. Japan announced that it’s ready to prevent any excessive gains of its … “Dollar Falls After G-20 Meeting”
Markets.com Now Alive – A Rebranding of GFC
GFC Markets was a relatively young forex broker. It grew fast and now moves forward by rebranding with a lucrative domain name – markets.com. In addition to the shiny new name, they are adding useful tools to traders: 7 different trading platforms, including MT4, a browser based platform and mobile applications which see a growing … “Markets.com Now Alive – A Rebranding of GFC”
If they can’t take my house, why should I pay for it?
That’s the question that millions of Americans struggling to pay their mortgages should be asking now with the foreclosure freeze. The question for forex traders is: how will this mortgage mess move currencies? Here’s a review of the crisis, still a low profile crisis, the devastating implications and scenarios for the dollar. Bank of America has stopped … “If they can’t take my house, why should I pay for it?”
How G-20 Meeting May Influence Japanese Yen?
The Japanese yen demonstrated yesterday the same pattern as other currencies as it was highly volatile, yet closed near its opening level. Unlike some other currencies it managed to close above the opening level against most currencies. The explanation for such behavior is simple: the traders were agitated, anticipating the G-20 meeting, yet was unwilling to risk as the outcome of the meeting is far from clear. It was obvious … “How G-20 Meeting May Influence Japanese Yen?”