What is forex? Yes, the answer is long, but here’s a chance to get quick explanations and many interesting figures in one graphic image. CMS Forex has made a nice infographic explaining it. While it doesn’t and can’t provide the full picture, it looks great. CMS Forex, that was acquired by Gain a few months … “A Quick Glimpse at Forex”
Month: June 2011
GBP/JPY Maintains Recovery Tone, GBP/USD Loses Momentum
GBPJPY: Maintains A Recovery Tone. GBPJPY – While GBPJPY has halted its weakness started from the 140.02 level in early April’2011, it requires further strength to prevent a return to the 129.68 level, it June 12’2011 low.If this happens, GBPJPY will strengthen further towards its daily 200 ema at 132.94 with a violation of that … “GBP/JPY Maintains Recovery Tone, GBP/USD Loses Momentum”
Orderly Restructuring? There’s No Such Thing
Any restructuring of Greek debt will be a default and therefore pure disorder. In the following interview, John Kicklighter of DailyFX discusses the situation in Europe, the chances of QE3, Oil/CAD correlation and more. JOHN KICKLIGHTER – Currency StrategistOffice: San FranciscoBio: John Kicklighter is a currency strategist for FXCM in New York where he specializes … “Orderly Restructuring? There’s No Such Thing”
Pound Slides on Rising Jobless Claims & Slowing Wage Growth
The Great Britain pound tumbled today as the government reports showed that the number of unemployment claims unexpectedly increased and the wage growth slowed. The number of people seeking unemployment benefits rose to 19,600 in May from 16,900 in April, according to the report of National Statistics. The unemployment rate stayed at 7.7 percent. The average earnings growth slowed to 1.8 percent in April from 2.4 percent in March. GBP/USD slid to 1.6272 from 1.6369 today as of 11:36 … “Pound Slides on Rising Jobless Claims & Slowing Wage Growth”
Debt Crisis Eats Away Euro’s Strength
The euro slumped today, erasing this week’s gains against the US dollar, on concerns that the European Union leaders won’t be able to reach agreement about measures necessary to battle the debt crisis. German Chancellor Angela Merkel and French President Nicolas Sarkozy will meet on June 17 in Berlin as the pressure to resolve their disagreement strengthens. Standard & Poor’s lowered its long-term sovereign credit ratings on Greece to ‘CCC’ … “Debt Crisis Eats Away Euro’s Strength”
EUR/USD: Trading the Philly Fed Manufacturing Index
The Philly Fed Index has had a stronger effect on currencies in recent months, due to big surprises and swings. The upcoming release provides a trading opportunity. Here are the details, and 5 possible scenarios for EUR/USD. Published on Thursday, at 14:00 GMT. Indicator Background The Federal Reserve region of Philadelphia always had a significant impact … “EUR/USD: Trading the Philly Fed Manufacturing Index”
USD/CHF Setting For a Return, GBP/USD Recovering with Caution
USDCHF: Setting Up For A Return To The 0.8325 Level. USDCHF: With its inability to sustain its past week momentum, USDCHF could be headed towards its Jun 05’2011 low at 0.8325. Guest post by www.fxtechstrategy.com If this level is taken out, the pair will resume its long term downtrend towards the 0.8300 level, representing its psycho … “USD/CHF Setting For a Return, GBP/USD Recovering with Caution”
Pound Weakened by Slowing Inflation
The Great Britain pound weakened today as the reports showed that the core inflation slowed and the retail price index remained unchanged last month. The consumer price index remained at 4.5 percent in May (year-on-year) as was expected. Yet the core inflation decreased to 3.3 percent from 3.7 percent, while only a small drop to 3.6 percent was expected. The retail price index surprised traders unpleasantly, remaining at 5.2 percent despite … “Pound Weakened by Slowing Inflation”
Euro Forming A Higher Corrective Pull-back; Now Threatening 1.4500
Euro is forming a short covering rally after the some powerful downward reaction at the end of the past week, which is quite interesting after S&P downgraded Greece to negative CCC outlook. In normal circumstances you would expect a Euro sell-off, but technical always win, very similar and contrary reaction that was already seen in … “Euro Forming A Higher Corrective Pull-back; Now Threatening 1.4500”
Improving Economy Pushes Dollar Down
The US dollar fell today against higher-yielding currencies, but rose against riskier ones, as the macroeconomic data improved outlook for growth of the US economy. The US data combined with the reports from China sapped attractiveness of safer currencies to Forex traders. The Producer Price Index rose 0.2 percent in May after rising 0.8 percent in April. The expected growth was 0.1 percent. The retail sales fell 0.2 percent last … “Improving Economy Pushes Dollar Down”