The euro surged today after the European Central Bank held the interest rates unchanged. The 16-nation shared European currency now declines versus the US dollar and the Japanese yen. The Governing Council of the ECB decided at todayâs meeting that the interest rate will remain unchanged at 1.00 percent. Jean-Claude Trichet, the president of the European Central Bank, said in his statement: Overall, the current monetary policy stance remains accommodative. The stance, the provision of liquidity … “ECB Keeps Interest Rates Unchanged â Euro Rises”
Month: November 2010
Improving Employment in New Zealand Bolster Kiwi
The New Zealand dollar gained today as the reports showed the better-than-expected employment figures, increasing the possibility that the central bank would raise the interest rates. The employment in New Zealand grew 1.0 percent in September, compared to the expected value of 0.5 percent. The employment went down to 6.4 percent, while it was expected to be 6.7 percent. The improving labor market increases the prospect for the central bank to perform the rates hike. NZD/USD jumped … “Improving Employment in New Zealand Bolster Kiwi”
BoE Keeps Rates & Bonds Buying Unchanged, Pound Climbs
The Great Britain pound jumped today as the Bank of England refused to follow the Federal Reserve in the quantitative easing and kept its bonds-purchase program unchanged. The Bank of England stuck to its plan to spend £200 ($324 billion) on buying the government bonds. The bank also left the interest rates at 0.5 percent. The minutes of the Bank’s policy makers meeting will be published on November 17th. GBP/USD jumped from 1.6101 to 1.6260 as of 12:20 GMT today, … “BoE Keeps Rates & Bonds Buying Unchanged, Pound Climbs”
How About Investing in Forex?
Forex is associated with active trading, very active trading, sticking the nose to the screen. There’s an option to invest in forex trading – not buying a currency and sitting on it, but rather investing your money with successful forex traders that trade for you – the same way as putting your money with mutual funds. With … “How About Investing in Forex?”
3 Tips For Controlling Your Emotions
Trading can be one of the most emotionally taxing activities that you can partake it. The emotionally highs and lows that result from our successes and failures as traders can really take their toll and eventually cause many would be traders to quit before they ever get a chance to realize their full potential. In … “3 Tips For Controlling Your Emotions”
EUR/USD Elliott Wave – Unfinished Uptrend
Morning Guys! Stocks and commodities are trading higher across the board after the Federal Reserve said it will spend $600 billion in a new bond-buying program to support the economy. So it’s not a surprise that US dollar is showing a very weak picture against the other major currencies, especially against the Euro which is the … “EUR/USD Elliott Wave – Unfinished Uptrend”
Finally Job Gains? Non-Farm Payrolls Preview
Non-Farm Payrolls for October are expected to be positive and could provide support for the dollar after the QE2 deci. As the effect of the decennial census is finally gone, the unemployment rate will attract more attention. Here are the things to watch for in the NFP release on November 5th. As of mid-December, only … “Finally Job Gains? Non-Farm Payrolls Preview”
Better Outlook for US Economy Pushes Loonie Up
The Canadian dollar gained today after the Federal Reserve announced its bonds-buying plans, improving the outlook for the economy of the US, the biggest Canada’s trading partner. The Federal Reserve it’s going to spend $600 to purchase the Treasuries. While the size of purchases is lower than some analysts expected, it’s quite significant. The improving economy of Canada’s neighbor can support the economy of Canada itself. Crude oil, the key Canada’s export, reached $85.12 … “Better Outlook for US Economy Pushes Loonie Up”
Fed Performs Quantitative Easing, Debasing Dollar
The US dollar fell after the US Federal Reserve announced its Treasuries-purchase program, causing the greenback to drop against 15 of 16 most-traded currencies. The Federal Reserve announced that it’s going to “purchase a further $600 billion of longer-term Treasury securities by the end of the second quarter of 2011, a pace of about $75 billion per month” and left the interest rates near zero. The plans of the Fed to print more money debase the US currency. … “Fed Performs Quantitative Easing, Debasing Dollar”
Britain’s Services PMI Report Supports Pound
The report today showed the unexpected growth of Britain’s services PMI, helping the Great Britain pound to gain and causing the speculation that the central bank would keep its policy unchanged tomorrow. Britain’s Services Purchasing Managers’ Index grew to 53.2 in October from 52.8 in September, while the analysts predicted the decline to 52.4. The good economic data caused the speculation that the Bank of England wouldn’t follow the US Federal Reserve into the quantitative … “Britain’s Services PMI Report Supports Pound”