The Canadian dollar strengthened as crude oil, key export of Canada, posted the biggest weekly gain since 2009 and as recovering Canada’s economy fueled the speculations about the interest rates hike by the Canadian central bank. April delivery for crude oil rose 1 percent to $98.28 per barrel after it advanced yesterday to $103.41, the highest intraday price since September 29, 2008. The price jumped 14 percent this week, the biggest … “Loonie Reaches Almost 3-Year High on Crude Oil Prices”
Month: February 2011
Forex Factory Trade Explorer – Powerful Trading Tool
Forex Factory just launched a great new tool. Trade Explorer enables traders to see basic and also not so basic statistical analysis of their trades, such as average trade return and average drawdown. Here’s a quick look. It’s important to note that the synchronization with real time data from the brokerage account allows viewing data … “Forex Factory Trade Explorer – Powerful Trading Tool”
Sterling Declines as UK Economy Shrinks
The Great Britain pound extended its losses today after the report showed that Britain’s economy shrank more than predicted in the fourth quarter of the last year. Britain’s gross domestic product contracted by 0.6 percent in the fourth quarter of 2010, revised down from the previously estimated fall of 0.5 percent. Chris Huddleston, a trader at Investec Bank Plc, said that the decline was caused by the profit-taking by traders and didn’t affect the expectations … “Sterling Declines as UK Economy Shrinks”
Japanese Yen Regains Strength After Declining
The Japanese yen rebounded today after it weakened on the speculation that the tensions in Libya has eased and that the Japanese currency is overbought. Specialists say that the unrest in North Africa and Middle East isn’t severe enough to derail the global economic recovery. OPEC promised to increase supply of oil in case if the tensions will disrupt production. Still, uncertainty in the markets persists, driving investors to safer assets. USD/JPY fell from … “Japanese Yen Regains Strength After Declining”
Pound Slumps as Sales & Consumer Confidence Decline
The Great Britain pound tumbled as the reports showed that the UK economic recovery stalled and the political unrest in the countries of North Africa and Middle East drove traders away from riskier assets. The CBIâs Distributive Trades survey showed that 36 percent of retailers saw the volume of sales rise in the two weeks to February 16, while 30 percent said they fell compared with a year ago, resulting in the balance of +6 percent. … “Pound Slumps as Sales & Consumer Confidence Decline”
Loonie Rises as Libyan Uprising Spur Oil Prices to 29-Month High
The Canadian dollar strengthened as the unrest in Libya caused the prices for crude oil to jump to the highest level in 29 months, increasing attractiveness of the currencies related to economic growth. The tensions in North Africa and Middle East have two-sided effect on the Canadian currency. On one side, they caused the market sentiment to shift towards risk aversion, which is negative for the loonie. On the other side, they caused the rally of some commodities, especially crude oil â … “Loonie Rises as Libyan Uprising Spur Oil Prices to 29-Month High”
Swiss Franc Rise to Record as Traders Shun Risk
The Swiss franc rallied to the record against the US dollar as the attempts of Libyan leader Muammar al-Gaddafi caused traders to avoid risk. The Swiss franc is considered to be a safe currency, attractive in times of uncertainties, and the conflicts in Libya and other countries of the region bring a lot of uncertainty on the markets. The MSCI World Index of shares fell 0.2 percent and the Stoxx Europe 600 Index dropped 0.6 percent. Futures on crude oil climbed to $119.79 per … “Swiss Franc Rise to Record as Traders Shun Risk”
Rally of Oil Bolsters Russian Ruble
The Russian ruble advanced today as oil rallied to the highest level in 30 months on the concerns about supplies from Africa and Middle East. Brent crude oil, the largest export revenue earner of Russia, jumped as much as 7.7 percent to $119.79 per barrel, the highest level since August 2008, on the concerns that the conflict in Libya, Africaâs third largest producer, will reduce supplies. Oil has risen 24 percent this year … “Rally of Oil Bolsters Russian Ruble”
Automated Mirror Trading Launched by Signal Trader
Signal Trader, from the founders of ForexPros, launched automated mirror trading Signal Trader partnered with FXCM, Gain Capital and Ava FX for enabling automatic trading. This is another tools for copying trades of other traders, similar to what Currensee does. Similar to Currensee, the accounts that can be followed are real live account. Different than … “Automated Mirror Trading Launched by Signal Trader”
Elliott Wave Video- Detailed Look At Cad/Jpy and Chf/Jpy
In the next video we will discuss about Cad/Jpy and Chf/Jpy where both pairs are trapped in a corrective phase already for more than two years now. In the video below will make a detailed technical outlook for these two pairs, and where prices are likely headed in the next few months. The method that … “Elliott Wave Video- Detailed Look At Cad/Jpy and Chf/Jpy”