The Canadian dollar fell versus its US counterpart and advanced against the euro as the optimism for Ireland’s rescue package wasn’t been able to sustain the good outlook for Europe’s economy. The optimism for Ireland’s bailout supported the markets last week, but it was short-lived without actual signs of the improvement. For now situation looks even worse as the Moodyâs Investors Service said that it may downgrade Ireland’s credit rating more than … “Concern for Ireland’s Debt Pushes USD/CAD Higher, EUR/CAD Lower”
Month: November 2010
NZD Drops as S&P Downgrades New Zealand Credit Rating Outlook
The New Zealand dollar dropped heavily today as the Standard & Poor’s downgraded its outlook for New Zealand’s credit rating as the nation’s banks may be weakening. The outlook for the New Zealand credit rating was downgraded from stable to negative by S&P. S&P confirmed the âAA+â long-term and âA-1+â short-term sovereign credit ratings of New Zealand. Alan Bollard, the governor of the Reserve Bank of New Zealand, said last week that the nation’s … “NZD Drops as S&P Downgrades New Zealand Credit Rating Outlook”
Stop Loss – Did You Try Trading Without It?
Andriy put up an interesting post about the famous or infamous stop loss. He asks if you trade without it – something which is usually highly not recommended. He mentions that everybody witnessed his stop loss being taken just to see the market change direction in their favor immediately afterwards, making it very very frustrating. … “Stop Loss – Did You Try Trading Without It?”
Concerns for European Debt Undermines Euro’s Strength
The euro jumped today on the speculation that the rescue package would help Ireland to deal with its debt crisis, but after the sharp advance the currency experienced even stronger drop and currently continues to decline. Brian Lenihan, Ireland’s Finance Minister, said on the press conference yesterday that the loan would be less than â¬100 billion ($137 billion), but refused to provide more details. Brian Cowen, Prime Minister, … “Concerns for European Debt Undermines Euro’s Strength”
Forex Sites Traffic Jumps in October
Arnaud Jeulin of mataf.net published statistics of forex sites in October. The data, based on Google’s Double Click Ad Planner, shows that Forex Factory continues to be the clear leader of the space, with small growth also in October. DailyFX, owned by FXCM remains in second place, with a small dip. FXStreet is in the … “Forex Sites Traffic Jumps in October”
Week Marked by Optimism for Canadian Currency
The Canadian dollar declined last week. One of the major reasons for the underperformance was the economic tightening measures in China. The ensued speculation about Chinaâs plans to cool its economy weakened the growth-related currencies and caused the decline of the prices for crude oil, the biggest Canadaâs export. The concerns about the actions of the Chinese government will cause pressure on the Canadian currency. Still the outlook for the loonie this week is rather positive. The fundamental reports expected to support … “Week Marked by Optimism for Canadian Currency”
Tradency Pause Feature Launched – Risk Control
Tradency, which develops mirror trading technology, announced a new and interesting feature – allowing the users to set a limit for losing strategies and limit risk. When this limit is reached, no new positions are made by the strategy – it is deactivated. This is a useful tool for controlling risk. In addition, the new … “Tradency Pause Feature Launched – Risk Control”
Temporary Top for Dollar Index
Risk is on today (higher stocks) on news of Ireland’s bailout package, which however is still not fully confirmed. Stocks may easily trade even higher today and push the US dollar even lower against the majors, since we know that higher stock are positive correlated with the Eur/Usd, Gbp/Usd, Aud/Usd… A current trend is also … “Temporary Top for Dollar Index”
NZD/USD Falls as S&P Downgrades New Zealand’s outlook
NZD/USD got a punch from S&P – the credit rating agency downgraded the country’s outlook from stable to negative and sent the kiwi down. NZD/USD rose before the announcement and reached 0.7835, but plunged more than 100 pips after this surprising news. The blame falls on the banking sector,that suffers a “significant weakening in the … “NZD/USD Falls as S&P Downgrades New Zealand’s outlook”
EUR/USD Expected To Jump On Irish Bailout Request
EUR/USD could have a good start to the week, perhaps with a weekend gap, as the Irish cabinet made a decision to officially ask for aid from the EU and the IMF. The size of the aid package is expected to be lower than 100-120 billion euros that was expected. This will impact other currencies … “EUR/USD Expected To Jump On Irish Bailout Request”