I’m very proud to announce that Forex Crunch has won the Best Fundamental Analysis award in the Forex Best Awards 2011 event held by FXstreet. This is a great honor. 7880 votes were cast in 12 categories during two weeks. In the best technical analysis reward, the winning report is the weekly experts forecast, in … “Forex Crunch Wins FXStreet’s Best Fundamental Analysis Award”
Month: February 2011
Looking at Crosses – Elliott Wave
Hello Traders! Major pairs are very tricky at the moment, with some choppy and mixed signals across the board. It’s not easy to read those patterns right now and as such, we deiced to look at some crosses. On the video below Gregor Horvat will make a detailed outlook on Eur/Aud, Eur/Cad, Eur/Jpy and Gbp/Chf. … “Looking at Crosses – Elliott Wave”
CAD Retreats After Touching Two-Year High vs. USD
The Canadian dollar retreated after it jumped to the highest level since March 2008 versus its US counterpart. The Canadian currencies had gained as crude oil advanced on the concerns about supply from Middle East. April contract for Brent crude oil dropped 1 percent to $102.77 per barrel on ICE after reaching yesterday $103.78, the highest price since September 25, 2008. Crude oil is Canadaâs main … “CAD Retreats After Touching Two-Year High vs. USD”
US Dollar Falls as Unemployment Claims Rise
The US dollar weakened today against most other major currencies after the reports showed that the number of the unemployment claims in the US rose and the leading indicators increased less than was predicted. Analysts predicted that the claims for the unemployment benefits would increase from 385,000 to 401,000 in the previous week. The actual reading was higher than the prediction â 410,000. The Leading Index of the Conference Board Inc. posted the growth by 0.1 percent … “US Dollar Falls as Unemployment Claims Rise”
Pound Rebounds as Sentance Insists on Rising Interest Rates
The Great Britain pound strengthened against the US dollar and the euro today after Bank of England policy maker Andrew Sentance explained in his today speech the necessity of raising the interest rates. In his speech at the Institute of Economic Affairs 2011 State of the Economy conference today Sentance said: One of the benefits which we might see from a policy of raising interest rates is a modest appreciation of sterling, which would mitigate the impact … “Pound Rebounds as Sentance Insists on Rising Interest Rates”
Franc Gains as Unrest in Middle East Spurs Demand for Safety
The Swiss franc gained today, strengthening versus the US dollar for the fourth day and rising against other most-traded currencies, as the worries that the tensions will spread across the Middle East spurred demand for the safe currencies. The demonstrators in Bahrain demand resignation of Prime Minister Sheikh Khalifa bin Salman al-Khalifa, protesting for the third day. The protests have left at least three people dead. The people are also protesting in Yemen and Libya. USD/CHF … “Franc Gains as Unrest in Middle East Spurs Demand for Safety”
King Cools Expectations for Interest Rates Hike, Sterling Drops
The Great Britain pound weakened today after Bank of England Governor Mervyn King suggested that the Bank isn’t ready for the interest rates hike. The inflation exceeded the target of the BoE for more than a year, causing the Governor to write the explanation to Chancellor George Osborne. This letter fueled hopes for the increase of the interest rates. King cooled these expectations today at the press conference about the Inflation Report in London: The market has gotten it … “King Cools Expectations for Interest Rates Hike, Sterling Drops”
Australian Dollar Rises as Asian Stocks Gain
The Australian dollar recovered from the two-year low after the Asian stocks advanced, increasing demand for the higher-yielding currencies. The MSCI Asia Pacific Index of shares gained 0.3 percent. The minutes of the Monetary Policy meeting of the Reserve Bank of Australia’s board signaled that an increase of the interest rates may be performed in the near future: Given the medium-term outlook for the economy, and the limited amount of spare capacity that existed, members judged that this slightly … “Australian Dollar Rises as Asian Stocks Gain”
Great Britain Pound Rises as BOE Governor Expects High Inflation
The Great Britain pound gained as Bank of England Governor Mervyn King was hawkish about the inflation, causing the speculation that the Bank may raise the interest rate soon. King wrote in his letter to Chancellor George Osborne: Inflation is likely to continue to pick up to somewhere between 4% and 5% over the next few months, appreciably higher than when I last wrote to you. That primarily reflects further pass … “Great Britain Pound Rises as BOE Governor Expects High Inflation”
Important Week for US Dollar, Can It Confirm Bullish Trend?
Last week was very important for the US dollar because the currency reversed its bearish trend and strengthened versus most of its counterparts. This week can be even more important as it may confirm the trend or break it. Most analysts, including Daily FX, Action Forex and Forexyard, are pretty optimistic about the US currency. The spreading unrest in Northern Africa and the Middle East, the renewed concerns about European … “Important Week for US Dollar, Can It Confirm Bullish Trend?”