Speaking on Forex TV with Julie Sinha, I spoke about technical levels for selected pairs, including key levels to watch for. In addition, we discussed teh impact of the events in Egypt on currencies, and some of the important events awaiting us next week. We’re up for a very busy week regarding US and non-US … “Video – EUR/USD, GBP/USD, AUD/USD and the Egyptian Situation”
Month: February 2011
Is Canadian Dollar Becoming Safe Currency?
The first half of this week wasn’t very good for the Canadian dollar, but the losses were offset in the second half, when the currency surged upward even though the sentiment was favoring safety. The discouraging macroeconomic data and the strong performance of most other currencies have led to the weakness of the Canadian dollar. Yet on Thursday the loonie, as the Canadian currency is often nicknamed, reversed the trend. The gains erased the losses against some currencies and even … “Is Canadian Dollar Becoming Safe Currency?”
Loonie Gains on Canada’s Trade Surplus & Mubarak’s Resignation
The resignation of Egyptian President Hosni Mubarak spurred risk aversion sentiment and pushed up the Canadian dollar that was also bolstered by Canada’s unexpected trade balance surplus today. The Canadian currency continued to show the unusual tendency to move together with the US dollar, rising today after the President Mubarak agreed to step down as the protesters demanded. While some traders hope that such decision may bring stability to the country, … “Loonie Gains on Canada’s Trade Surplus & Mubarak’s Resignation”
US Dollar Gains After Mubarak Resigns
The US dollar extended its gains against most other major currencies today as Egyptian President Hosni Mubarak resigned and handed power to the military, increasing concerns about the political situation in Egypt and spurring demand for safety. Mubarak decided to accept the demands of the protesters and stepped down, giving away power to the Supreme Council of the armed forces. The protesters will likely demand immediate elections to be performed. The traders remained concerned, though, as the power … “US Dollar Gains After Mubarak Resigns”
Even in Forex – Hate the Player, Not the Game
Last week I took on SmartMoney. This week I take on the Prism Money personal finance blog, which is hosted by none other than Reuters, my own employer (it’s a really big company, though, so no, I do not know the author and/or editors responsible). The post in question is Forex folly: Why you shouldn’t be trading … “Even in Forex – Hate the Player, Not the Game”
Mubarak Steps Down!
Update: Mubarak has gone! Egyptian state TV reported that Mubarak has left. This was a short message. The crowd at Tahrir is cheering. President Hosni Mubarak has decided to waive the office of the republic – says Vice President Omar Suleiman – Army in charge of Egypt There are growing talks in Egypt that president Hosni Mubarak … “Mubarak Steps Down!”
Third Day of Losses for Rand Due Egyptian Crisis
The South African rand dropped to the lowest level in more than five months on the worries that Egyptian crisis will intensify and as the global inflationary pressure increases. The concerns that the unrest in Egypt will strengthen emerged after Egyptian President Hosni Mubarak refused to accept the demand of the protester to resign the presidency. The threat of the increasing tensions in North Africa caused the market sentiment to shift to risk aversion and hurt the riskier assets. USD/ZAR was at 7.3130 … “Third Day of Losses for Rand Due Egyptian Crisis”
Taiwan Dollar Tumbles with Stock Index
The Taiwan dollar slumped today as the nation’s stock index dropped to the lowest level in five months, slowing the rapid appreciation of the currency. The Taiex stock index dropped as much as 2.6 percent, the biggest loss since August 25. The Taiwan currency declined 0.1 percent over the week, but has gained 3.9 percent this year so far. USD/TWD rose from the opening rate of 28.9520 to 29.2250, the biggest gain since December … “Taiwan Dollar Tumbles with Stock Index”
CitiFX Announces More Competitive Spreads
CitiFX leverages its strong institutional background and now offers better spreads. The new spreads are divided into two groups, with the tightest spreads, such as 1.2 pips on EUR/USD, available for accounts larger than 50,000. This broker is aiming for the bigger forex traders, not necessarily full time traders, but the ones that don’t come … “CitiFX Announces More Competitive Spreads”
Loonie Moves in Tandem with Greenback
The Canadian dollar fell against its US counterpart, but advanced versus most other actively traded currencies, as the economic recovery in North America increased the attractiveness of the currency for the investors. The report of Canada Mortgage and Housing Corporation this week said that the seasonally adjusted annual rate of housing starts was 170,400 units in January. This is up from 169,000 units in December. Today’s report of Statistics Canada showed that … “Loonie Moves in Tandem with Greenback”