The US dollar fell against most major currencies today on the speculation that the Federal Reserve will lag behind the European Central Bank in increasing its borrowing costs as the US economy isn’t recovering fast enough to warrant higher rates. Today’s macroeconomic reports supported such outlook. The unemployment claims in the US rose from 385,000 to 412,000 last week, while they were expected to drop to 379,000. The Producer Price Index … “Dollar Falls on Forecast Fed Lag Behind ECB”
Month: April 2011
EUR/USD Falls on Debt Concerns
The euro fell versus the US dollar today on concerns that Greece and other indebted nation of the European Union will be required to restructure their debt. The currency pair somewhat recovered after the economic reports from the US were worse than predicted. Germany’s Finance Minister Wolfgang Schaeuble said that Greece may be required to restructure its debt if the audit in June would show the nation’s inability to repay … “EUR/USD Falls on Debt Concerns”
Is the CFTC Actually Helping Traders?
The new CFTC rules regarding forex imposed leverage limits that angered many traders. Nobody likes to be held back. But after 6 months, there’s evidence that these limits might actually be helping traders make more money. On October 18th, the new leverage limits came into effect: 50:1 on major pairs and 20:1 on others. This … “Is the CFTC Actually Helping Traders?”
Currensee Raises $4M in Series C Financing
Forex social network Currensee gets $4 million. The fresh funds will go towards developing new tools for decision making, portfolio management, infrastructure and more. This is Round C of financing. The previous round was made for the development of the Trade Leaders program and for expansion outside the US. In the past year or so, … “Currensee Raises $4M in Series C Financing”
Cable targeting 1.6500
Cable reversed early this week from 1.64 resistance level after a nice clear five sub-waves within an extended wave 3. As such, a wave 4 pull-back occurred, which in fact already appears complete around 1.6200 support from where pair bounced back above 1.6320 uptrend confirmation level. Guest post by Gregor Horvat Notice that wave 4 … “Cable targeting 1.6500”
Australia’s Dollar Falls on Asia’s Stocks & Europe’s Problems
The Australian dollar slipped today against most major currencies on concerns about the European sovereign issues and as the Asian stocks fell after Singapore signaled about possible tightening. The Monetary Authority of Singapore stated in its Monetary Policy Statement the “policy will ensure price stability in the medium term while keeping growth on a sustainable path”. The government will allow faster appreciation of the nation’s currency but the trading band will be kept … “Australia’s Dollar Falls on Asia’s Stocks & Europe’s Problems”
GBPUSD: Maintains Sideways Range
GBPUSD: The pair continues to hold and trade within its sideways trading range after bull pressure faded and saw it returning into that range on Tuesday. On further weakness, the pair should target the 1.6149 level and then the 1.5964/35 levels. Guest post by www.fxtechstrategy.com Below there will bring the pair out of its range and … “GBPUSD: Maintains Sideways Range”
Swedish Krona Rises with Better Growth Outlook
The Swedish krona strengthened today after the government raised its growth forecast for the nation’s economy, adding to reasons for the central bank to raise its interest rates. The government estimated that Sweden’s economy will expand 3.8 percent in 2012 and 3.6 percent in 2013. The growth forecast for this year was revised to 4.6 percent from the last month’s estimates of 3.7 percent growth. Economists expected increase of the nation’s trade surplus and decrease … “Swedish Krona Rises with Better Growth Outlook”
GFT Has Highest Profitability Rate in Q1 2011
The first quarter of 2011 has ended, and US broker has released very interesting figures. GFT now has the highest profitability rate in 2011, but the race is very close. Apart from profitability rate, the number of traders was also reported, and there are interesting findings. The new CFTC rules limit leverage in the US, … “GFT Has Highest Profitability Rate in Q1 2011”
Sterling Recovers from Six-Month Low vs. Euro
The Great Britain pound went down today to the lowest level in six months versus the euro as the inflation grew less than forecast and the jobless claims rose, but recovered as unemployment rate unexpectedly fell. The currency also gained against the US dollar. The UK consumer prices rose 4 percent in March, while they were expected to rise 4.4 percent â the same rate as in February. The number of people seeking jobless benefits … “Sterling Recovers from Six-Month Low vs. Euro”