Hello Traders! Euro is showing a very strong picture across the board, already since start of January. This currency is also showing a significant recovery against the Australian dollar, which is quite interesting if we consider that Euro was one of the weakest while the Australian dollar was one of the strongest lcurrencies in 2010. Guest … “Corrective Reversal on EUR/AUD – Eliott Wave Video”
Month: February 2011
Ruble Gains as Brent Oil Trades Above $100
The Russian ruble strengthened after Brent crude oil rallied above $100, attracting investors to the assets of the biggest world energy exporter. Brent oil rallied 0.6 percent to $102.36 per barrel. Brent has risen 8 percent this year, allowing the ruble to appreciate 1.8 percent. Oil and natural gas makes up about a quarter of Russiaâs economic output. The analysts say that the ruble has potential to rise further. … “Ruble Gains as Brent Oil Trades Above $100”
Loonie Gains as Crude Oil Climbs to Two-Year High
The Canadian dollar rose today as the prices for crude oil rallied to the highest level in two years and as the global economic recovery increased attractiveness of the currencies linked to growth. The price for crude oil, the main export of Canada, climbed as much as 1.1 percent to $91.78 a barrel. The loonie, as the Canadian currency is nickname, also is benefiting from the signs of the global economic growth. The employment increase in the US was considerably better than was predicted, posting … “Loonie Gains as Crude Oil Climbs to Two-Year High”
Rumor – Obama to Egyptian Army: Down With Mubarak
There’s a rumor that US President Barack Obama has told the Egyptian army to put Mubarak down and take over the country. Right now. The White House is in touch with commanders Egypt’s army and is telling them to act against Hosni Mubarak right now. Western government are using softer words in the open: “the … “Rumor – Obama to Egyptian Army: Down With Mubarak”
Forex Best Awards 2011 – FXStreet
Leading forex portal FXStreet has an annual awards events in 12 different categories – all are contributors to their site. I’m honored that Forex Crunch is nominated in 2 categories – both in the best fundamental analysis category and in the best new contributor category. The winners will be determined according to viewers’ votes. Voting … “Forex Best Awards 2011 – FXStreet”
Dollar-Stocks Correlation – Has it Broken Down?
There’s been loads of talk this week about the correlation between stocks and the dollar thanks to an article in the Wall Street Journal and the reactions to it from folks on CNBC and in the blogosphere. The driving idea is that the relationship has broken down of late. Is that really the case? Well, let’s take … “Dollar-Stocks Correlation – Has it Broken Down?”
Yen Weakens as Economic Recovery Progresses
The Japanese yen dropped today as the signs of the accelerating economic recovery decreased the attractiveness of the currency as a safe haven. The good economic data from all around the world reinforces optimism of traders, prompting them to leave safer assets in favor of higher-yielding ones. The forecasts, like the one predicting that the ADP Employer Services report will show an employment growth by 140,000 jobs, also support the good outlook. The MSCI Asia Pacific Index of regional … “Yen Weakens as Economic Recovery Progresses”
Civil War in Egypt?
Cairo is burning once again: Pro-Mubarak protesters are throwing stones and clashing with the masses of opposition, anti-Mubarak demonstrators. There are claims that the pro-Mubarak crowd is actually the police force, wearing plain clothes. The Egyptian army, including armored vehicles and tanks isn’t intervening. At first, they separated between the groups, but currently they’re not … “Civil War in Egypt?”
Pound Extends Gains on Expanding Construction Sector
The Great Britain pound continued its rally today, rising for a third day against the US dollar, as the report showed that UK construction sector returned to growth in January. The Markit/CIPS Construction Purchasing Managersâ Index (seasonally adjusted) showed a solid expansion of activity in the UK construction sector, rising from 49.1 in December to 53.7 in January. Market participants expected a smaller growth to 49.8. One of the reasons for the improvement was better weather conditions … “Pound Extends Gains on Expanding Construction Sector”
Lower Demand for Safety Saps Strength of Swiss Franc
The good reports from Europe, especially Germany and the general optimism about the global economy reduced demand for safer currencies, including the Swiss franc, which retreated versus the Euro. The franc rose against the US dollar. The Eurozone Purchasing Managers’ Index increased from 56.9 to 57.3 in January. The number of jobless people in Germany declined by 13,000, reaching the lowest level in 18 years. The jobless rate in Germany slid to 7.4 percent in January, compared … “Lower Demand for Safety Saps Strength of Swiss Franc”