OANDA won the “Best Forex Broker” award at the Forex Magnates Summit held in London on November 14th. A panel of 15 judges awarded OANDA, which competed against 13 other brokers. OANDA recently launched a Google Chrome extension that enables trading. High technology was one of the reasons for the prize. LONDON – 20 November, … “Forex Magnates Summit: OANDA Wins Best Forex Broker Award”
Month: November 2012
Bank of Japan Refrains from Easing, Boosting Yen
The Japanese yen gained today after the Bank of Japan refrained from easing its monetary policy. Yet the central bank hinted that it may implement accommodative measures in the future, limiting gains of the currency. The Bank of Japan left its main interest rate near zero after concluding its two-day policy meeting today. At the same time, the statement said that the bank “will pursue aggressive monetary easing in a continuous … “Bank of Japan Refrains from Easing, Boosting Yen”
Oil Broke Trend Line – A Change In Trend?
Oil prices are breaking higher, now testing highs from November 6th. Notice that the price already broke out of the upper channel resistance line which is called a base channel break. Those who are with us for some time now will know that this break usually occurs in a wave three rally within impulsive recovery. … “Oil Broke Trend Line – A Change In Trend?”
FX Solutions Launches Capped Variable Spreads from 0.8 pips
US based forex broker FX Solutions introduces a new and interesting initiative for U.S. customers: 0.8 pips for EUR/USD and 1 pip for 3 additional popular pairs. These spreads are available on both the MetaTrader 4 platform as well as the GTS one. James Chen recently returned to FX Solutions. It will be interesting to … “FX Solutions Launches Capped Variable Spreads from 0.8 pips”
Australian Dollar Follows Rally of Stocks
The Australian dollar rallied today as advance of stocks increased appetite for risk among investors. Equities gained as fears of the fiscal cliff in the United States receded. The risk sentiment improved as US President Barack Obama showed confidence in a positive resolution of the current dangerous fiscal situation in the USA. The MSCI Asia Pacific Index of shares advanced 0.9 percent. The Australian currency was especially stronger against the Japanese yen that was hurt by expectations … “Australian Dollar Follows Rally of Stocks”
US Dollar Drops on Return of Risk Appetite
US dollar is heading lower today as risk aversion fades and Forex traders look for higher yields instead of safe haven. Concerns about the situation around the global have eased a bit on the rumors that an agreement on Greece is about to be reached, and that compromise is likely in the US fiscal cliff drama. European Union officials think that a funding agreement on Greece can be reached in the next couple of days, … “US Dollar Drops on Return of Risk Appetite”
Possible Greek Funding Deal Helps Euro
Euro is getting help today from the possibility of a deal on Greek funding. There are still problems to be worked out — including disagreement over how to proceed between the eurozone officials and the IMF — but for now there is enough optimism to help the 17-nation currency. Thanks to the latest news out of the eurozone, the euro is getting a bit of a boost. European officials are expected to reach a deal arranging for funding … “Possible Greek Funding Deal Helps Euro”
Weekly Recap: Yen Suffers from Stimulus Speculations
The Japanese yen suffered this week, falling against all other most-traded currencies, on speculations that Japan will have new leadership that will demand more aggressive easing from the nation’s central bank. Even poor fundamental news did not lift the currency. Prime Minister Yoshihiko Noda surprised everyone this week, dissolving the parliament. Most analysts believe that the resulting elections will bring the opposition … “Weekly Recap: Yen Suffers from Stimulus Speculations”
Aussie Erases Gains Despite Negative Factors
The Australian dollar followed its Canadian counterpart in gains yesterday, erasing its previous losses. The currency was weaker at the beginning of Friday’s session and dropped near the lowest level in three weeks against the US dollar. The International Monetary Fund said that the Reserve Bank of Australia has ability to lower interest rates if that will be necessary. The RBA has kept its key rate stable at the last policy meeting, … “Aussie Erases Gains Despite Negative Factors”
Canadian Dollar Rises as US Politicians Discuss Fiscal Cliff
The Canadian dollar erased its losses versus the US dollar and the Japanese yen today, while advancing against the euro, on hopes that US politicians will reach an agreement about a way to avoid the fiscal cliff. The time for automatic tax increases and spending cuts is near and that danger causes fear on markets. Many economists believe that so-called fiscal cliff will push the US economy into recession. The global economy … “Canadian Dollar Rises as US Politicians Discuss Fiscal Cliff”