Iraqi dinar can be an interesting option for traders who look for currencies with great potential for profit. But such potential often comes with higher risk. How investor can predict performance of the dinar? The first thing to remember is that Iraq is one of the biggest world exporters of oil, therefore performance of its currency depends on prices for this commodity. Currently oil shows an upward trend, so the Iraqi … “Iraqi Dinar: Main Drivers & Redenomination”
Month: July 2011
Ruble Goes Down with Oil Prices
The Russian ruble fell today as crude oil, the main source of Russia’s export revenue, declined for the second day on concerns for the recovery of the world economy. August futures for crude oil delivery fell $0.98 (1 percent) to $95.29 a barrel. Crude retreated 10 percent in June to the lowest in eight months. Economists say that the ruble will be driven by global market trends rather than the improving domestic conditions. USD/RUB rose from … “Ruble Goes Down with Oil Prices”
Malaysian Ringgit Slides as World Economy Slows
The Asian currencies, including the Malaysian ringgit, weakened today as concerns for the global economic growth caused investors to shun risk and decreased appeal of the region’s assets. The government report showed today that Malaysiaâs industrial output slumped 5.1 percent in May from a year ago after the drop by 1.7 percent in April. Chinaâs economic growth slowed from 9.7 percent in the first quarter of this year to 9.3 percent in the second quarter, according … “Malaysian Ringgit Slides as World Economy Slows”
Downgrades for Spain and Italy are Next
The third and fourth largest countries in the euro-zone may be next to receive downgrades. With the growing prospects of a Greek default and the turmoil in the markets, downgrades for Italy and Spain could happen soon and exacerbate the current vicious cycle in the debt crisis. Everything seemed fine after the Greek vote. And then … “Downgrades for Spain and Italy are Next”
Gold Builds Higher, EUR/USD Set to Further Weaken
GOLD: Rallies, Risk Builds On The 1,576.20 Level GOLD: The commodity reversed almost all of its two week losses to close strongly higher the past week. This new development now leaves further upside risk targeting its psycho level at 1,600 and then the 1,650.00 level. Its weekly RSI is bullish and pointing higher supporting this view. … “Gold Builds Higher, EUR/USD Set to Further Weaken”
USD/JPY Vulnerable to the Downside, GBP/CHF Loses Upside Momentum
USDJPY: Vulnerable To The Downside Long Term. USDJPY: With attempts on the upside continuing to falter, the risk remains lower in the long term. With that said, further weakness is expected towards the 79.57 level, its May 05’2011 low on continued upside failures. Further down, support lies at the 78.00 level, its psycho level and … “USD/JPY Vulnerable to the Downside, GBP/CHF Loses Upside Momentum”
AUD/USD: Trading the Australian Home Loans
The change in loans for homes is an important measure of the housing sector, and for the economy as a whole. The event is set for the very beginning of the week. This can set the tone for the whole week. Here are all the details, and 5 possible outcomes for AUD/USD. Published on Monday … “AUD/USD: Trading the Australian Home Loans”
$5 Trillion A Day During the Summer – Forex Trading
According to CLS Bank, the volume of forex transaction during the month of June reached $5.12 trillion. This broke a record set in March 2010. This record turnover was 20% higher than one year beforehand. The Greek crisis has a lot to do with it. The near-default experience of Greece is likely the main reason for … “$5 Trillion A Day During the Summer – Forex Trading”
New Worries Return Demand for Franc
The Swiss franc gained this week as concerns about the European indebted nations and the abysmal report about the US employment spurred investors to seek safety of the Swiss currency. The last week was negative for the Swissie as it looked like the European debt problems have subsided for the time being, reducing need for a safe haven. Yet this week demand for safety returned with a new vigor as three main rating agencies: Standard and Poor’s, … “New Worries Return Demand for Franc”
Australian Dollar Falls on Bad US Employment
The Australian dollar fell against its US counterpart and the Japanese yen after the report about the US employment showed a very depressing result, reducing attractiveness of higher-yielding currencies. The depressing US payrolls report caused a surge of risk aversion on the Forex market, hurting currencies related to growth, including the Australian dollar. The S&P 500 Index fell 1.1 percent. The Dow Jones Industrial Average slid 0.9 percent. The employment in Australia showed … “Australian Dollar Falls on Bad US Employment”