What a difference a day makes!! One day after investors seemed as if they couldn’t get enough of the EUR yesterday morning after comments from ECB President Draghi to the European Parliament that the central bank would be happy to buy bonds with maturities up to 3 years, the market has completely reversed falling to … “Draghi Will Have a Lot of Explaining To Do”
Month: September 2012
2 Things to Watch Out For Besides the ECB’s Rate
The next two weeks are pivotal to the survival of the Euro. Everyone knows it. As a result, the sentiment has placed an emphasis on this week’s interest rate announcement by ECB President Mario Draghi. But it’s not just the central bank’s announcement on interest rates that is the talk of the town. Here are … “2 Things to Watch Out For Besides the ECB’s Rate”
Canadian Dollar Stands Still Ahead of BoC Rate Decision
The Canadian dollar fell against its US counterpart yesterday, but managed to outperform the euro and the Japanese yen. Today, the Canadian currency remained near yesterday’s close, waiting for Bank of Canada’s rate decision. The fall of the loonie against the greenback can be explained by the negative data from the United States. The USA is Canada’s major trading partner, therefore the performance of the US economy has a great impact on Canada’s economy and currency. The data … “Canadian Dollar Stands Still Ahead of BoC Rate Decision”
Euro Loses Gains on Profit-Taking
Hopes for the coming European Central Bank policy meeting were driving the euro higher today. Yet the rally stalled and then failed completely. As a result, the shared 17-nation currency ended the trading session in the negative territory. The euro was rising during the first half of the trading session. ECB President Mario Draghi explained yesterday his plans to start a bond-buying program. Additionally, most analysts predict that the ECB will reduce its … “Euro Loses Gains on Profit-Taking”
Won Weakens as US Data Hurts Risk Appetite
The South Korean won weakened today after the US macroeconomic data came out weaker than was predicted by market analysts, reducing demand for riskier currencies among Forex traders. Earlier, Forex traders were more optimistic as European Central Bank President Mario Draghi said that the central bank may start purchases of 3-year bonds. ISM manufacturing PMI remained below the neutral 50.0 mark, which was … “Won Weakens as US Data Hurts Risk Appetite”
September 2012 Monthly Outlook Available for Download
The Forex monthly outlook for September 2012 is available for download. To download it for free, just join the mailing list below. August mostly saw calm trading, with a dose of optimism regarding the debt crisis in Europe and the situation of the US. As traders return from vacations, September is expected to be far … “September 2012 Monthly Outlook Available for Download”
Franc Weakened by Falling Swiss GDP
The Swiss franc, which is virtually pegged to the euro, did not follow the shared European currency in gains today. The unexpected decline of the Swiss economy spurred speculations that the Swiss National Bank will maintain the ceiling for the franc. Swiss gross domestic product fell 0.1 percent in the second quarter of 2012 from the first quarter, when it rose 0.5 percent. Analysts predicted 0.2 percent growth. Yesterday, SNB President … “Franc Weakened by Falling Swiss GDP”
Aussie Retains Upper Hand on Upbeat RBA
Australian dollar is retaining the upper hand against its major counterparts in currency trading as the Reserve Bank of Australia remains upbeat about the economic situation. The RBA left Australian interest rates unchanged at 3.50 per cent, and delivered its policy statement in a tone that was much less pessimistic than expected. Indeed, economists had expected a little more disappointment about the economy, and were surprised that the policy statement … “Aussie Retains Upper Hand on Upbeat RBA”
UK Pound Weakens on Uncertainty
UK pound is weakening right now on uncertainty. Concerns about what’s next for the British economy, as well as speculation about what will happen with the eurozone, are weighing on the pound today. Yesterday, the pound got a bit of a boost after the manufacturing PMI came in higher than expected. British manufacturing PMI came in at 49.5 in August, representing an increase from July’s 45.2. The number still represents a contraction (it’s below 50), … “UK Pound Weakens on Uncertainty”
James Chen Returns to FX Solutions as Chief Technical
After working for some time with FXDD, James Chen is coming back to FX Solutions. Chen is one of the best technical analysts, and his return to FX Solutions is a great addition to their team. James Chen is a CMT, and CTA. His various books about forex trading such as “Essentials of Foreign Exchange … “James Chen Returns to FX Solutions as Chief Technical”