The Malaysian ringgit rose today together with other Asian currencies after the report yesterday showed that the US housing sector improved. The positive data improved prospects for the Asian exports. The housing starts rose to 685,000 in November from 627,000 in October. The housing starts advanced to 681,000 in the last month from 644,000 in the month before. Both were expected to decline. The MSCI Asia-Pacific Index of stocks gained as much as 2.3 percent, showing … “Ringgit Advances as US Housing Improves”
Month: December 2011
USD/JPY: Trading the US jobless claims Dec 2011
The US Unemployment Claims indicator is published weekly, and measures the number of people filing for unemployment for the first time during the previous week. A reading which is higher than the market forecast is bullish for the yen. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Thursday at 13:30 GMT. Indicator Background Unemployment … “USD/JPY: Trading the US jobless claims Dec 2011”
New Zealand Dollar Gains as Optimism Hits Forex Market
The New Zealand dollar advanced today, extending its gains from yesterday, as Forex market participants felt a bit more optimistic about Europe and favored higher-yielding assets. The resulting rally of the global stocks was also beneficial to the currency. The European Central Bank will announce the results of the first tranche of its unlimited three-year loans today. Economists think that banks will use the loaned money to buy the sovereign debt. The Standard … “New Zealand Dollar Gains as Optimism Hits Forex Market”
Traders Again Willing to Risk, Benefiting Canada’s Dollar
The Canadian dollar advanced today as the prices for crude oil rose and stocks gained after risk appetite reemerged on markets and traders again became interested in riskier assets. Crude oil futures advanced as much as 3.8 percent to $97.59 per barrel in New York. The Standard & Poorâs 500 Index rose 3 percent, while the S&P/TSX Composite Index climbed 1.5 percent. The risk appetite appeared after Europe’s good data … “Traders Again Willing to Risk, Benefiting Canada’s Dollar”
FXCM Receives a $75 Million Credit Line from Bank of
US Forex broker FXCM announces a credit line of $75 million from Bank of America (BAC). This credit line could be doubled in the future, and will enable the company to expand its operations and perform further mergers and acquisitions. FXCM already had some M&A action following its IPO around a year ago and continues … “FXCM Receives a $75 Million Credit Line from Bank of”
NZD/USD:Trading the New Zealand GDP
The Gross Domestic Product (GDP), is an important measurement of the production and growth of the economy. Analysts consider GDP, which is released quarterly, one of the most significant indicators of economic activity. A reading which is better than the market forecast is bullish for the New Zealand dollar. Here are all the details, and 5 … “NZD/USD:Trading the New Zealand GDP”
US Dollar Lower as Optimism Returns
Optimism has returned to the financial markets today, and that has resulted in a lower US dollar on the Forex market. Forex traders are feeling better about the situation around the world and, as a result, are turning to high beta currencies with better yields. For now, low yielding currencies like the US dollar and the Japanese yen are out of favor as Forex traders look for other options. Optimism about a recovery US economy … “US Dollar Lower as Optimism Returns”
30 Sites to Thank and Recommend
The holidays are also a time of giving. I would like to take the opportunity to thank and recommend sites / blogs that are very useful for forex traders. Here are my 30 picks. With some of these websites, I have different kinds of collaboration which I’m happy with, and it’s also an opportunity to … “30 Sites to Thank and Recommend”
Yen Falls as Japanese Government Prepares to Boost Intervention Funds
Japanese yen is falling today, heading lower on the news that the government is prepared to increase its intervention in the currency market. The Ministry of Finance is hoping for an extra 30 trillion yen for use in currency intervention operations. The new intervention funds bring a cap on the bills issued up to 195 trillion yen, and leaves 65 trillion of that available for currency intervention. The Japanese have already intervened in the Forex market multiple times … “Yen Falls as Japanese Government Prepares to Boost Intervention Funds”
Rand Goes Higher on Spain’s Bill Auction & Germany’s Business Confidence
The South African rand advanced today after Spain auctioned its three- and six-month bills with a good result and the German business confidence unexpectedly improved this month. Spain sold â¬5.64 billion of bills, exceeding its maximum target, while the borrowing costs went down. The Ifo Business Climate index increased from 106.6 in November to 107.2 in December. It was expected to drop to 106.2. Traders remained cautious as Europe … “Rand Goes Higher on Spain’s Bill Auction & Germany’s Business Confidence”