![[Video] – More Drops in EUR/USD As Currency War Already](https://investinearth.org/wp-content/uploads/2010/11/forexcrunch-logo-351x185-24.jpg){kind=logo}
Derek Frey, “Senior Market Manipulator” and head trader at Forex Traders Daily continues to be bearish on EUR/USD and metals. In an interview on Forex TV, Julie Sinha discusses where the Euro is headed towards the head of the year, and marks the next lows for EUR/USD.Frey mentions that rallies are opportunities to sell EUR/USD … “[Video] – More Drops in EUR/USD As Currency War Already”
Month: November 2010
Chinese Yuan Rises on Outlook for Further Interest Rates Hike
The Chinese yuan strengthened on the speculation that the central bank may increase the interest rates in order to slow the rapidly growing inflation, which may create an asset bubble. The rapid growth of the Chinese economy attracted investors, boosting the consumer prices to 4.4 percent in October from a year ago. The accelerating inflation troubles the Chinese officials, who may prefer the stronger currency to the risk of the asset bubble. The policy makers are taking steps to curb … “Chinese Yuan Rises on Outlook for Further Interest Rates Hike”
Euro Posts Gains, but Trend Remains Bearish
The euro jumped today on the speculation that the European Union would support its most indebted nations. The euro resumed its decline later as the traders weren’t convinced. The speculations suggested that Ireland’s government discussed with the EU leaders the possibility of the bailout for Ireland. The EU officials dismissed such suggestions as mere rumors. The traders weren’t much convinced by the attempts of the EU leaders to improve confidence in the European economy, therefore the euro’s gains were … “Euro Posts Gains, but Trend Remains Bearish”
Falling Stocks Lead to Decline of Canada’s Dollar
The Canadian dollar extended its losses against its US counterpart today as the stocks fell, decreasing the risk appetite and damping demand for the growth-related assets. The Standard & Poorâs 500 Index slipped 0.4 percent and the S&P/TSX Composite Index went down 0.1 percent. Futures on crude oil, Canadaâs key export, traded at $87.75 per barrel, following the advance to the highest level in two years of $88.63. USD/CAD advanced from 1.0030 … “Falling Stocks Lead to Decline of Canada’s Dollar”
Pound Drops as Britain’s Consumer Confidence Slips
The Great Britain pound dropped today after the report showed that the UK consumer confidence slipped, showing the concerns of Britons about the planned spending cuts. The Nationwide Consumer Confidence fell from 53 to 52 in October, while it was expected to rise to 55. The report said that “the decrease in sentiment during October was led by continued pessimism towards the future situation”. GBP/USD dropped from 1.6121 to 1.6030 as of 10:12 GMT … “Pound Drops as Britain’s Consumer Confidence Slips”
Aussie Drops from Parity vs. Greenback on Unemployment Rate
The Australian dollar fell from parity with its US counterpart today as the unemployment rate increased, even though it was supposed to fall. The Aussie extended its gains against the euro. The Australian employers added 29,700 jobs in October, following the 49,600 increase in September. That was better than the expected 20,200 employment change. The better-than-expected employment change hasn’t helped to decrease the added 29,700 jobs in October, though, which … “Aussie Drops from Parity vs. Greenback on Unemployment Rate”
Eur/Usd Oversold – Looking For Recovery – Elliot Wave
Eur/Usd is down already more than 500 pips since past weeks high, established at 1.4278 region. The pair is extremely oversold, and a five wave structure from the most recent highs suggests that Euro should recover in the very near future. Elliott wave theory says that trend always change a direction after every five waves, … “Eur/Usd Oversold – Looking For Recovery – Elliot Wave”
Yen Rebounds After Previous Decline as China May Cool Economy
The Japanese yen rose today, before returning to the opening level, on the speculation that the accelerating inflation in China would prompt the government to take steps to cool the economy. The consumer prices in China grew 4 percent in October, the biggest advance since October 2008, following the 3.6 percent increase in September. The rapidly growing prices and the increasing trade surplus caused concerns among the Chinese policy makers about the possible asset bubble. The concerns caused … “Yen Rebounds After Previous Decline as China May Cool Economy”
Fed’s Easing Spurred Commodities and Bolstered Ruble
The Russian ruble posted gains today as the prices for crude oil rallied and the quantitative easing in the US spurred the demand for the riskier assets. The quantitative easing weakened the dollar and boosted commodities, including oil, the main source of Russia’s export revenue. Crude oil reached $87.63 per barrel yesterday, the highest price in more than two years. The ruble also strengthened as the Federal Reserve kept the interest rates near zero, prompting the investors to seek … “Fed’s Easing Spurred Commodities and Bolstered Ruble”
Britain’s Inflation Stay Above Target, Boosting Pound
The Great Britain pound advanced against the US dollar today after the Bank of England said that the inflation may stay above the 2 percent target, decreasing the probability of the quantitative easing by the bank and bolstering the pound. The Bank of England raised its near-term forecast for the inflation and expects it to stay above the target through the next year. The bank said that it “stood ready to respond in either direction as the balance of risks evolved”. GBP/USD … “Britain’s Inflation Stay Above Target, Boosting Pound”