Trading is a business. Now you may be thinking to yourself “Yeah know that, tell me something I don’t know” but you would be surprised at how many people don’t realize this and if they do they certainly don’t treat it like one. They start trading and they think that all they have to do … “What It Really Takes To Be Successful”
Month: November 2010
New Zealand Dollar Advances as Producer Prices Rise
The New Zealand dollar strengthened today against its US counterpart after the report showed that the producer prices rose more than the economists anticipated, causing the speculation that the central bank may raise the interest rates further. New Zealand output producer prices rose 1.2 percent in September, while it was expected to increase only by 0.6 percent. The output producer prices rose 0.7 percent, compared to the median … “New Zealand Dollar Advances as Producer Prices Rise”
Canadian Dollar Weakens on Concerns About US Economic Health
The Canadian dollar dropped today as the poor economic reports from the US caused the concerns about the effect of the quantitative easing on the US economy and decreased the attractiveness of the currencies related to the economic growth. The Federal Reserve announced on November 3rd the so-called quantitative easing. The Fed said it plans to purchase $600 billion in Treasuries through June to bolster the employment and the inflation. These plans received the tremendous amount of the criticism as many economists thought that the excessive … “Canadian Dollar Weakens on Concerns About US Economic Health”
Dollar Falls as CPI & Housing Starts Decline, Jobless Claims May Rise
The US dollar declined today as the reports from the US signaled that the recovery of the US economy may be slowing, decreasing the attractiveness of the US currency as the safe haven. The Consumer Prices Index increased 0.2 percent in October, while it was expected to rise by 0.3 percent. The housing starts were at the seasonally adjusted annual rate of 519,000 in October, while the September reading was 588,000. The tomorrow’s report expected to show the growth of the jobless … “Dollar Falls as CPI & Housing Starts Decline, Jobless Claims May Rise”
Pound At The Channel Support
Pound was one of the weakest currencies yesterday, especially against the US dollar, when Gbp/Usd broke through 1.5950 support region. A very sharp bearish price action from 1.6180 suggests that pair could be in a third wave here; a red wave 3) which may easily reach much lower levels in the near future. Guest post … “Pound At The Channel Support”
Elliot Wave Analysis – S&P500: Corrective Pull-back
S&P is covering some yesterday’s losses, but probably trades only in a corrective pull-back, labelled as a blue wave (iv), as a sharp decline from the 1207 shows a personality of a third wave. With this being said, a current trend remains bearish for S&P500 as long as the market trades below 1194 critical wave … “Elliot Wave Analysis – S&P500: Corrective Pull-back”
Decline of Unemployment Claims Bolsters Pound
The Great Britain pound gained today after the jobless claims in the UK unexpectedly declined and the concerns about the Irish debt crisis spreading to other countries of the European Union increased the demand for the relative safety of the UK currency. The number of the unemployment claims in Britain fell by 3,700 from September to October. The expected reading was the growth by 5,100. The quarterly unemployment rate decreased by 0.1 percent from the previous quarter to 7.7 percent in September. GBP/USD rose … “Decline of Unemployment Claims Bolsters Pound”
Loonie Falls on Stocks, Oil & Concerns for European Debt Problems
The Canadian dollar declined today as the concerns about the sovereign debt in the European countries caused the investors’ sentiment to shift toward the risk aversion, damping the appeal of the commodities and the stocks and decreasing demand for the growth-related currencies. The futures on crude oil, Canadaâs key export, dropped as much as 3.3 percent to $82.10 per barrel, the lowest level this month. The MSCI World Index of equities in developed nations posted the decline for the seventh day, tumbling 2.1 percent … “Loonie Falls on Stocks, Oil & Concerns for European Debt Problems”
Ireland’s & Greece’s Debt Problems Continues to Weaken Euro
The euro dropped today as Ireland’s Prime Minister claimed that the nation doesn’t seek the external aid, the concerns about Greece’s debt intensified and the investors’ sentiment turned to risk aversion. Ireland continues to discuss its debt and the way out of it with the European Union and the International Monetary Fund. In the same time, Brian Cowen, the Prime Minister of Ireland, claimed that the nation doesn’t seek aid, but “a credible, efficient and above all … “Ireland’s & Greece’s Debt Problems Continues to Weaken Euro”
Fundamental Overview – Market Movers Last Week – 11/15/2010
The U.S. Dollar shot up against all the major currencies last week on renewed risk aversion due to the unstable debt situation of the financially weaker members of the European Union, with rumors about a pending Irish default swirling around the market. In addition, last week was the first week since early October that the … “Fundamental Overview – Market Movers Last Week – 11/15/2010”