The US dollar showed a monthly decline against all of its major counterparts on the Forex market in April, confirming its long-term downward trend even against the currencies closely connected with the US economy. The greenback demonstrated the worst month against the euro since September 2010 and the worst month against the Great Britain pound since last July. It also managed to slid against the Canadian dollar, which wasn’t feeling great … “US Dollar — Loser of the Month”
Month: April 2011
Overall Forex Activity Grows, Forex Factory Continues Leading
The interest in forex trading has grown during March, partly due to the horrific tragedy in Japan. Forex Factory continues to lead, with the highest traffic. Here’s some data of what forex stats look like. Arnaud Jeulin, owner of Mataf, has released his monthly summary of forex global statistics.Note that Jeulin bases his data on … “Overall Forex Activity Grows, Forex Factory Continues Leading”
Swiss Franc at New Record High Against Dollar
Prompted by the positive macroeconomic news, the Swiss franc managed to rise to a new record high against the US dollar and to grow against other major currencies today. The Swiss currency benefited from today’s leading economic indicator (KOF Economic Barometer) release that showed that its value rose unexpectedly in April. The report shows a growth from 2.25 to 2.29. Not only it’s above the expected 2.20 value, it’s also … “Swiss Franc at New Record High Against Dollar”
Yuan Appreciates Above 6.5 vs. USD for a Short Time
The Chinese yuan rose above the 6.5 level against the US dollar today for several hours before returning to the levels below this important psychological rate. The yuan reference trading rate was moved up to 6.499 per USD by the People’s Bank of China today. The currency is allowed to appreciate or depreciate within 0.5 percent boundary during a daily trading session, allowing an intraday low on the USD/CNY currency pair of 6.4805. The main … “Yuan Appreciates Above 6.5 vs. USD for a Short Time”
GOLD On The Offensive With Eyes On The 1,550.00 Level
The precious metal remains on the offensive pressing higher and increasing risk of a run at the 1,550.00 level, its psycho level.Its present offensive is coming on the back of its recent consolidation at the 1,480.85 level. Guest post by www.fxtechstrategy.com Price extension is expected towards the 1,600 level, its psycho levels if the 1,550.00 … “GOLD On The Offensive With Eyes On The 1,550.00 Level”
Virtual Desktop Interface Launched by CMS
CMS Forex launches VDI – Virtual Desktop Interface service for forex trading. This service, which is similar to VPS, allows traders to access their demo or live accounts from any location. VDI supports MT4, ForexTraderPro and the VT Trader 2.0 charting package. The really nice part about this service is that traders receive a dedicated … “Virtual Desktop Interface Launched by CMS”
Russian Ruble Appreciates Despite Central Bank Intervention
The Russian continued to rise against the US dollar and stabilized against the euro today, following the exceptional intervention measures conducted by the central bank. Bank Rosii (the country’s central bank) released Russiaâs International Reserves statistics for the past week today, showing an increase of $5.1 billion up to $517.9 billion. It’s said by the market analysts from the Russian Otkritie financial corporation that about $1.9 of that gain was purchased by the bank to hold … “Russian Ruble Appreciates Despite Central Bank Intervention”
USD/CAD: Trading the Canadian GDP Apr 2011
Canada’s is unique by providing GDP on a monthly basis, providing action for USD/CAD each time. This release is expected to cut the winning streak. Here’s an outlook for this event 5 possible outcomes for USD/CAD. Indicator Background While the releases are scheduled two months after the reported month ended, they still provide a good … “USD/CAD: Trading the Canadian GDP Apr 2011”
AUD/USD Challenges Higher Prices
We maintain our bullish call on AUDUSD as it continues to press higher on the back of its long term resumption. The pair should strengthen further with the possibility of convincingly breaking and holding above the 1.0900 level, its psycho level. Guest post by www.fxtechstrategy.com This will drive the pair further towards another big psycho … “AUD/USD Challenges Higher Prices”
AUD Jumps to New Record Maximum vs. USD
The Australian dollar continued its 3-day race against its US counterpart today, following the dovish FOMC statement and in expectance of the interest rate hike in Australia. The Aussie rose against the greenback by about 0.7 percent and added slightly against the euro today, while trading near the open level against the Japanese yen. The US dollar is falling against almost all Forex-traded pairs, while the Australian dollar is benefiting from … “AUD Jumps to New Record Maximum vs. USD”